Brokerages Expect Teladoc, Inc. (TDOC) Will Announce Quarterly Sales of $44.34 Million
Equities analysts expect that Teladoc, Inc. (NYSE:TDOC) will report sales of $44.34 million for the current quarter, Zacks Investment Research reports. Thirteen analysts have made estimates for Teladoc’s earnings, with estimates ranging from $43.97 million to $44.61 million. Teladoc posted sales of $26.49 million in the same quarter last year, which suggests a positive year-over-year growth rate of 67.4%. The company is expected to announce its next earnings report after the market closes on Wednesday, August 2nd.
According to Zacks, analysts expect that Teladoc will report full-year sales of $44.34 million for the current fiscal year, with estimates ranging from $181.20 million to $185.00 million. For the next year, analysts expect that the business will report sales of $248.64 million per share, with estimates ranging from $232.20 million to $258.37 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Teladoc.
Teladoc (NYSE:TDOC) last announced its quarterly earnings data on Monday, May 8th. The health services provider reported ($0.30) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.33) by $0.03. Teladoc had a negative return on equity of 24.73% and a negative net margin of 53.58%. The firm had revenue of $42.90 million during the quarter, compared to analyst estimates of $42.22 million. During the same period last year, the company posted ($0.40) EPS. The business’s quarterly revenue was up 59.5% compared to the same quarter last year.
TDOC has been the subject of several recent research reports. Zacks Investment Research cut Teladoc from a “hold” rating to a “sell” rating in a research report on Tuesday, May 2nd. Chardan Capital reaffirmed a “buy” rating on shares of Teladoc in a research report on Monday, March 27th. Cowen and Company reaffirmed an “outperform” rating and set a $29.00 price objective on shares of Teladoc in a research report on Thursday, March 16th. TheStreet raised Teladoc from a “d” rating to a “c-” rating in a research report on Thursday, April 13th. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and set a $32.00 price objective on shares of Teladoc in a research report on Wednesday, June 21st. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Teladoc currently has an average rating of “Buy” and a consensus target price of $32.77.
In related news, insider Michael H. King sold 5,000 shares of the stock in a transaction that occurred on Wednesday, April 19th. The stock was sold at an average price of $25.75, for a total transaction of $128,750.00. Following the completion of the transaction, the insider now directly owns 61,459 shares of the company’s stock, valued at $1,582,569.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jason N. Gorevic sold 15,000 shares of the stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $23.11, for a total value of $346,650.00. Following the transaction, the chief executive officer now directly owns 833,261 shares of the company’s stock, valued at $19,256,661.71. The disclosure for this sale can be found here. Insiders have sold 232,480 shares of company stock valued at $6,439,354 over the last three months. Insiders own 5.94% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. raised its stake in Teladoc by 125.7% in the first quarter. Ameriprise Financial Inc. now owns 131,493 shares of the health services provider’s stock valued at $3,288,000 after buying an additional 73,231 shares in the last quarter. UBS Asset Management Americas Inc. acquired a new stake in Teladoc during the first quarter valued at about $271,000. Swiss National Bank raised its stake in Teladoc by 37.5% in the first quarter. Swiss National Bank now owns 56,800 shares of the health services provider’s stock valued at $1,420,000 after buying an additional 15,500 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Teladoc by 115.3% in the first quarter. Bank of New York Mellon Corp now owns 227,360 shares of the health services provider’s stock valued at $5,683,000 after buying an additional 121,736 shares in the last quarter. Finally, US Bancorp DE raised its stake in Teladoc by 10.3% in the first quarter. US Bancorp DE now owns 4,617 shares of the health services provider’s stock valued at $116,000 after buying an additional 433 shares in the last quarter. Hedge funds and other institutional investors own 93.77% of the company’s stock.
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Shares of Teladoc (NYSE:TDOC) traded up 2.01% during midday trading on Friday, reaching $35.45. The company’s stock had a trading volume of 887,053 shares. The company’s market cap is $1.93 billion. Teladoc has a 12 month low of $13.49 and a 12 month high of $36.90. The stock has a 50-day moving average of $31.90 and a 200 day moving average of $24.09.
Teladoc Company Profile
Teladoc, Inc is a telehealth company. The Company offers telehealth platform, delivering on-demand healthcare anytime, anywhere, through mobile devices, the Internet, video and phone. The Company’s solution connects its Members, with its over 3,000 board certified physicians and behavioral health professionals treating a range of conditions and cases from acute diagnoses, such as upper respiratory infection, urinary tract infection and sinusitis to dermatological conditions, anxiety and smoking cessation.
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