Teladoc (TDOC) Price Target Raised to $77.00

Teladoc (NYSE:TDOC) had its price target increased by SunTrust Banks to $77.00 in a report issued on Thursday, The Fly reports. The brokerage currently has a buy rating on the health services provider’s stock.

Several other equities research analysts have also issued reports on the company. Piper Jaffray Companies raised their price objective on Teladoc to $77.00 and gave the company an overweight rating in a research note on Thursday, August 2nd. Oppenheimer increased their price target on Teladoc from $59.00 to $68.00 and gave the stock an outperform rating in a report on Thursday, August 2nd. Wells Fargo & Co reiterated a buy rating and issued a $70.00 price target on shares of Teladoc in a report on Thursday, August 2nd. KeyCorp increased their price target on Teladoc from $70.00 to $74.00 and gave the stock an overweight rating in a report on Thursday, August 2nd. Finally, Canaccord Genuity reiterated a buy rating and issued a $70.00 price target on shares of Teladoc in a report on Thursday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Teladoc presently has a consensus rating of Buy and an average target price of $62.95.

Teladoc stock traded up $2.85 during midday trading on Thursday, reaching $71.85. 3,588,195 shares of the stock traded hands, compared to its average volume of 1,746,576. Teladoc has a 12 month low of $27.30 and a 12 month high of $71.90. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.14 and a quick ratio of 3.14.

Teladoc (NYSE:TDOC) last announced its quarterly earnings results on Wednesday, August 1st. The health services provider reported ($0.37) EPS for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.01. Teladoc had a negative return on equity of 19.10% and a negative net margin of 37.78%. The company had revenue of $94.60 million during the quarter, compared to analyst estimates of $91.56 million. During the same period in the prior year, the company earned ($0.28) earnings per share. The firm’s revenue was up 112.1% on a year-over-year basis. analysts forecast that Teladoc will post -1.48 earnings per share for the current fiscal year.

In other Teladoc news, VP Mark Hirschhorn sold 20,000 shares of the firm’s stock in a transaction on Tuesday, July 10th. The stock was sold at an average price of $63.00, for a total transaction of $1,260,000.00. Following the transaction, the vice president now directly owns 2,791 shares in the company, valued at approximately $175,833. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jason N. Gorevic sold 25,000 shares of Teladoc stock in a transaction on Tuesday, May 15th. The shares were sold at an average price of $48.93, for a total value of $1,223,250.00. Following the completion of the transaction, the chief executive officer now owns 636,184 shares in the company, valued at $31,128,483.12. The disclosure for this sale can be found here. Insiders have sold a total of 252,460 shares of company stock worth $15,888,224 over the last 90 days. 3.95% of the stock is currently owned by company insiders.

Several large investors have recently made changes to their positions in TDOC. We Are One Seven LLC increased its stake in shares of Teladoc by 241.1% in the 1st quarter. We Are One Seven LLC now owns 2,845 shares of the health services provider’s stock valued at $115,000 after purchasing an additional 2,011 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Teladoc by 68.8% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,874 shares of the health services provider’s stock worth $116,000 after buying an additional 1,171 shares in the last quarter. Rockefeller Capital Management L.P. purchased a new stake in Teladoc during the 1st quarter worth approximately $154,000. Garner Asset Management Corp acquired a new position in shares of Teladoc during the 2nd quarter worth approximately $200,000. Finally, Pier 88 Investment Partners LLC acquired a new position in shares of Teladoc during the 2nd quarter worth approximately $201,000.

About Teladoc

Teladoc, Inc provides telehealth services worldwide. It offers a portfolio of services and solutions covering 450 medical subspecialties, such as flu and upper respiratory infections, cancer, and congestive heart failure. The company provides its services through mobile devices, the Internet, video, and phone.

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