2,999 Shares in Teladoc, Inc. (TDOC) Purchased by ETF Managers Group LLC
ETF Managers Group LLC purchased a new position in Teladoc, Inc. (NYSE:TDOC) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,999 shares of the health services provider’s stock, valued at approximately $104,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TDOC. FMR LLC raised its holdings in Teladoc by 163.5% in the 1st quarter. FMR LLC now owns 8,103,237 shares of the health services provider’s stock worth $202,581,000 after purchasing an additional 5,028,237 shares during the period. Janus Henderson Group PLC acquired a new position in Teladoc in the 2nd quarter worth about $58,287,000. Janus Capital Management LLC acquired a new position in Teladoc in the 1st quarter worth about $37,258,000. BlackRock Inc. raised its holdings in Teladoc by 42.9% in the 2nd quarter. BlackRock Inc. now owns 3,844,402 shares of the health services provider’s stock worth $133,400,000 after purchasing an additional 1,154,852 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Teladoc by 65.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,663,600 shares of the health services provider’s stock worth $92,426,000 after purchasing an additional 1,057,065 shares during the period.
In related news, CEO Jason N. Gorevic sold 20,000 shares of Teladoc stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $33.47, for a total transaction of $669,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Mark Hirschhorn sold 25,000 shares of Teladoc stock in a transaction that occurred on Friday, September 22nd. The stock was sold at an average price of $31.93, for a total value of $798,250.00. Following the transaction, the vice president now owns 64,987 shares of the company’s stock, valued at $2,075,034.91. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 108,806 shares of company stock valued at $3,471,732. Insiders own 4.47% of the company’s stock.
A number of equities analysts recently weighed in on TDOC shares. Cowen and Company reaffirmed an “outperform” rating and issued a $39.00 price target (up previously from $36.00) on shares of Teladoc in a report on Thursday, August 3rd. Piper Jaffray Companies reissued a “buy” rating and set a $32.00 target price on shares of Teladoc in a report on Friday, July 14th. TheStreet cut Teladoc from a “c-” rating to a “d” rating in a report on Monday, July 3rd. BidaskClub cut Teladoc from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Finally, William Blair reissued an “outperform” rating on shares of Teladoc in a report on Tuesday, June 20th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $38.00.
Teladoc, Inc. (NYSE TDOC) remained flat at $34.35 during midday trading on Friday. 438,150 shares of the company traded hands. Teladoc, Inc. has a 1-year low of $14.00 and a 1-year high of $37.55. The company’s market capitalization is $1.95 billion. The firm has a 50-day moving average price of $33.36 and a 200-day moving average price of $33.36.
Teladoc (NYSE:TDOC) last posted its quarterly earnings results on Wednesday, August 2nd. The health services provider reported ($0.28) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate 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 company had revenue of $44.60 million for the quarter, compared to analyst estimates of $44.39 million. During the same quarter in the previous year, the business posted ($0.38) earnings per share. Teladoc’s revenue was up 68.3% on a year-over-year basis. Equities research analysts expect that Teladoc, Inc. will post ($1.44) EPS for the current year.
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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