Cantor Fitzgerald Keeps a Hold Rating on Teladoc (TDOC)

By Carrie Williams

Cantor Fitzgerald analyst Steven Halper reiterated a Hold rating on Teladoc (TDOCResearch Report) today and set a price target of $70. The company’s shares opened today at $56.88.

Halper commented:

“. We reiterate our Neutral rating on TDOC shares. Our price target is $70. After the close on Tuesday, April 30, TDOC reported 1Q18 results that were in line with our estimates and reaffirmed its 2019 guidance. Organic revenue growth was 23% compared with 31% in 4Q18. Importantly, the company indicated that it has expanded its relationship with UnitedHealthcare (UNH – Overweight). The company reiterated that it should be able to maintain organic revenue growth in the 20-30% range next year. The company remains optimistic on Medicare Advantage (MA) plans, but expects more ratable adoption over time. On the surface, TDOC is executing nicely on its virtual health strategy.”

According to TipRanks.com, Halper is a 5-star analyst with an average return of 17.4% and a 62.5% success rate. Halper covers the Services sector, focusing on stocks such as WellCare Health Plans, Tivity Health Inc, and Hms Holdings Corp.

Teladoc has an analyst consensus of Strong Buy, with a price target consensus of $81.08.

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The company has a one-year high of $89.05 and a one-year low of $40. Currently, Teladoc has an average volume of 1.61M.

Based on the recent corporate insider activity of 71 insiders, corporate insider sentiment is negative on the stock.

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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.