$67.50 Million in Sales Expected for Teladoc, Inc. (TDOC) This Quarter
Analysts expect that Teladoc, Inc. (NYSE:TDOC) will post sales of $67.50 million for the current quarter, Zacks Investment Research reports. Eight analysts have made estimates for Teladoc’s earnings, with estimates ranging from $67.13 million to $67.80 million. Teladoc reported sales of $32.38 million during the same quarter last year, which would indicate a positive year over year growth rate of 108.5%. The firm is scheduled to announce its next quarterly earnings report on Thursday, October 26th.
On average, analysts expect that Teladoc will report full-year sales of $67.50 million for the current year, with estimates ranging from $230.50 million to $237.90 million. For the next fiscal year, analysts forecast that the company will post sales of $361.62 million per share, with estimates ranging from $350.56 million to $374.23 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Teladoc.
Teladoc (NYSE:TDOC) last issued its quarterly earnings results on Wednesday, August 2nd. The health services provider reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by $0.02. Teladoc had a negative net margin of 47.75% and a negative return on equity of 19.88%. The firm had revenue of $44.60 million for the quarter, compared to analysts’ expectations of $44.39 million. During the same period in the prior year, the company earned ($0.38) EPS. The firm’s quarterly revenue was up 68.3% on a year-over-year basis.
TDOC has been the topic of several research reports. Chardan Capital lifted their target price on Teladoc from $30.00 to $41.00 and gave the stock a “buy” rating in a report on Tuesday, June 20th. William Blair reaffirmed an “outperform” rating on shares of Teladoc in a report on Tuesday, June 20th. Canaccord Genuity reaffirmed a “buy” rating and issued a $42.00 target price (up from $34.00) on shares of Teladoc in a report on Tuesday, June 20th. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $27.00 target price on shares of Teladoc in a report on Monday, June 19th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and issued a $32.00 target price on shares of Teladoc in a report on Friday, July 14th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $35.55.
In other Teladoc news, insider Adam C. Vandervoort sold 53,806 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $30.92, for a total transaction of $1,663,681.52. Following the sale, the insider now directly owns 33,008 shares of the company’s stock, valued at $1,020,607.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.47% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Ameriprise Financial Inc. increased its stake in Teladoc by 125.7% during the first quarter. Ameriprise Financial Inc. now owns 131,493 shares of the health services provider’s stock worth $3,288,000 after acquiring an additional 73,231 shares during the last quarter. Driehaus Capital Management LLC bought a new stake in Teladoc during the first quarter worth approximately $6,411,000. Blair William & Co. IL bought a new stake in Teladoc during the first quarter worth approximately $218,000. Swiss National Bank increased its stake in Teladoc by 37.5% during the first quarter. Swiss National Bank now owns 56,800 shares of the health services provider’s stock worth $1,420,000 after acquiring an additional 15,500 shares during the last quarter. Finally, Riverbridge Partners LLC bought a new stake in Teladoc during the second quarter worth approximately $23,392,000.
Shares of Teladoc (TDOC) traded up 1.97% on Monday, hitting $33.65. The stock had a trading volume of 494,196 shares. The stock has a 50 day moving average of $31.87 and a 200-day moving average of $29.00. The stock’s market cap is $1.91 billion. Teladoc has a 12 month low of $14.00 and a 12 month high of $36.90.
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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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