After Piper Jaffray and Jefferies gave Teladoc (NYSE: TDOC) a Buy rating last month, the company received another Buy, this time from Oppenheimer. Analyst Mohan Naidu maintained a Buy rating on Teladoc today and set a price target of $84. The company’s shares closed yesterday at $68.99.
Naidu observed:
“TDOC’s Q4 was as pre-released last month and visits were above expectations, and more importantly, the utilization is trending very impressively—annualized Q4 utilization of 10.8% shows strong traction within members. But the shortfall in CY19 EBITDA guidance and lack of UNH news is likely to pressure the stock. While CY18 had a record selling season, management noted a spread-out onboarding this year which reduces the full-year contribution, and increased investments in the new products, are pressuring margins further. The prolonged wait around potential UNH book of business is likely to cause uncertainty and be exhausting to investors, but that could just be the complexity of working with UNH and its massive potential. Remain Outperform, adjusting target to $84 from $87.”
According to TipRanks.com, Naidu is a 5-star analyst with an average return of 11.1% and a 54.7% success rate. Naidu covers the Services sector, focusing on stocks such as Tivity Health Inc, Hms Holdings Corp, and Evolent Health.
Currently, the analyst consensus on Teladoc is a Strong Buy with an average price target of $84.50, implying a 22.5% upside from current levels. In a report issued on February 14, Jefferies also maintained a Buy rating on the stock.
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The company has a one-year high of $89.05 and a one-year low of $37.85. Currently, Teladoc has an average volume of 1.45M.
Based on the recent corporate insider activity of 69 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of TDOC in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Teladoc Health, Inc. engages in the provision of telehealthcare services using a technology platform via mobile devices, the Internet, video and phone. Its portfolio of services and solutions covers medical subspecialties from non-urgent, episodic needs like flu and upper respiratory infections, to chronic, complicated medical conditions like cancer and congestive heart failure. The company was founded on June 13, 2002 by George Byron Brooks and is headquartered in Purchase, NY.
