SOC Telemed, Inc. (NASDAQ:TLMD) Given Average Rating of “Buy” by Analysts
Shares of SOC Telemed, Inc. (NASDAQ:TLMD) have earned a consensus recommendation of “Buy” from the six ratings firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $11.25.
Several research analysts recently weighed in on TLMD shares. Robert W. Baird initiated coverage on shares of SOC Telemed in a report on Monday, November 30th. They set an “outperform” rating and a $12.00 price target on the stock. Benchmark initiated coverage on SOC Telemed in a research report on Friday, January 15th. They issued a “buy” rating and a $12.00 price objective on the stock. BTIG Research lowered SOC Telemed from a “buy” rating to a “neutral” rating in a research report on Friday, January 15th. Credit Suisse Group assumed coverage on shares of SOC Telemed in a research report on Tuesday, February 16th. They set an “outperform” rating and a $11.00 target price for the company. Finally, William Blair started coverage on shares of SOC Telemed in a report on Wednesday, November 25th. They issued an “outperform” rating on the stock.
A number of institutional investors have recently bought and sold shares of the stock. BlackRock Inc. bought a new position in SOC Telemed in the 4th quarter valued at $20,578,000. Blair William & Co. IL bought a new stake in SOC Telemed during the fourth quarter valued at approximately $345,000. Wells Fargo & Company MN bought a new stake in SOC Telemed during the fourth quarter valued at approximately $28,000. Trellus Management Company LLC purchased a new position in SOC Telemed in the 4th quarter worth approximately $866,000. Finally, Clearbridge Investments LLC purchased a new position in SOC Telemed in the fourth quarter worth $12,281,000. 20.70% of the stock is currently owned by institutional investors and hedge funds.
About SOC Telemed
SOC Telemed, Inc provides telemedicine technology and solutions to hospitals, health systems, post-acute providers, physician networks, and value-based care organizations in the United States. The company's technology platform, Telemed IQ, provides telemedicine programs. Its telemedicine solutions include teleNeurology, telePsychiatry, and teleICU.
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