Canaccord Genuity Believes Teladoc (NYSE: TDOC) Still Has Room to Grow

By Ryan Adsit

Canaccord Genuity analyst Richard Close reiterated a Buy rating on Teladoc (NYSE: TDOC) yesterday and set a price target of $45. The company’s shares closed yesterday at $41.15, close to its 52-week high of $44.65.

According to TipRanks.com, Close is a 4-star analyst with an average return of 8.5% and a 52.9% success rate. Close covers the Services sector, focusing on stocks such as Envision Healthcare, Hms Holdings Corp, and Evolent Health.

Currently, the analyst consensus on Teladoc is Moderate Buy and the average price target is $43.60, representing a 6.0% upside.

In a report issued on April 6, Wells Fargo also maintained a Buy rating on the stock with a $46 price target.

The company has a one-year high of $44.65 and a one-year low of $22.73. Currently, Teladoc has an average volume of 1.02M.

Based on the recent corporate insider activity of 39 insiders, corporate insider sentiment is neutral on the stock.

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, Inc. engages in the provision of telehealth platform, delivering healthcare anytime, and anywhere via mobile devices, the internet, video, and phone. Its physicians treat a wide 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. The company was founded on June 13, 2002 by George Byron Brooks and is headquartered in Purchase, NY.