BlackRock Inc. Purchases 437,136 Shares of Teladoc Inc (TDOC)

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BlackRock Inc. increased its position in shares of Teladoc Inc (NYSE:TDOC) by 9.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,318,850 shares of the health services provider’s stock after buying an additional 437,136 shares during the period. BlackRock Inc. owned about 7.65% of Teladoc worth $308,759,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Wells Fargo & Company MN increased its holdings in shares of Teladoc by 20.2% during the first quarter. Wells Fargo & Company MN now owns 616,056 shares of the health services provider’s stock worth $24,826,000 after buying an additional 103,626 shares in the last quarter. Rhumbline Advisers increased its holdings in Teladoc by 4.0% in the first quarter. Rhumbline Advisers now owns 53,616 shares of the health services provider’s stock valued at $2,161,000 after purchasing an additional 2,065 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Teladoc by 68.8% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,874 shares of the health services provider’s stock valued at $116,000 after purchasing an additional 1,171 shares during the period. American Century Companies Inc. increased its holdings in Teladoc by 5.9% in the first quarter. American Century Companies Inc. now owns 182,056 shares of the health services provider’s stock valued at $7,337,000 after purchasing an additional 10,090 shares during the period. Finally, Swiss National Bank increased its holdings in Teladoc by 1.7% in the first quarter. Swiss National Bank now owns 94,400 shares of the health services provider’s stock valued at $3,804,000 after purchasing an additional 1,600 shares during the period.

A number of research firms recently weighed in on TDOC. Oppenheimer increased their price objective on Teladoc from $59.00 to $68.00 and gave the company an “outperform” rating in a report on Thursday, August 2nd. Canaccord Genuity restated a “buy” rating and issued a $70.00 price objective on shares of Teladoc in a report on Thursday, August 2nd. MED increased their price objective on Teladoc to $56.00 and gave the company a “hold” rating in a report on Thursday, June 7th. Citigroup increased their price objective on Teladoc to $62.00 and gave the company a “buy” rating in a report on Tuesday, June 5th. Finally, Robert W. Baird increased their price objective on Teladoc from $50.00 to $65.00 and gave the company a “neutral” rating in a report on Wednesday, July 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $65.10.

Shares of TDOC opened at $77.30 on Friday. The company has a current ratio of 3.14, a quick ratio of 3.14 and a debt-to-equity ratio of 0.58. The firm has a market cap of $5.35 billion, a price-to-earnings ratio of -46.85 and a beta of 0.58. Teladoc Inc has a 12 month low of $27.30 and a 12 month high of $79.64.

Teladoc (NYSE:TDOC) last issued its quarterly earnings results on Wednesday, August 1st. The health services provider reported ($0.37) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.38) by $0.01. The business had revenue of $94.60 million for the quarter, compared to analysts’ expectations of $91.56 million. Teladoc had a negative net margin of 37.78% and a negative return on equity of 19.10%. The business’s quarterly revenue was up 112.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.28) earnings per share. sell-side analysts predict that Teladoc Inc will post -1.51 EPS for the current year.

In other Teladoc news, insider Adam C. Vandervoort sold 24,250 shares of the company’s stock in a transaction on Monday, July 9th. The shares were sold at an average price of $64.28, for a total transaction of $1,558,790.00. Following the sale, the insider now owns 12,272 shares of the company’s stock, valued at $788,844.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Adam C. Vandervoort sold 5,550 shares of the company’s stock in a transaction on Monday, September 10th. The shares were sold at an average price of $77.67, for a total transaction of $431,068.50. Following the sale, the insider now directly owns 2,934 shares in the company, valued at approximately $227,883.78. The disclosure for this sale can be found here. Insiders have sold 242,497 shares of company stock worth $16,108,269 in the last ninety days. Insiders own 3.95% of the company’s stock.

Teladoc Profile

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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Institutional Ownership by Quarter for Teladoc (NYSE:TDOC)

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