Analysts Set SOC Telemed, Inc. (NASDAQ:TLMD) Price Target at $11.25


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Shares of SOC Telemed, Inc. (NASDAQ:TLMD) have been given an average rating of “Buy” by the six analysts that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $11.25.

Several research firms have recently commented on TLMD. Royal Bank of Canada initiated coverage on shares of SOC Telemed in a report on Thursday, January 28th. They issued an “outperform” rating and a $10.00 price target for the company. Benchmark started coverage on shares of SOC Telemed in a research note on Friday, January 15th. They issued a “buy” rating and a $12.00 target price for the company. BTIG Research lowered shares of SOC Telemed from a “buy” rating to a “neutral” rating in a report on Friday, January 15th. William Blair began coverage on SOC Telemed in a report on Wednesday, November 25th. They issued an “outperform” rating on the stock. Finally, Robert W. Baird assumed coverage on SOC Telemed in a report on Monday, November 30th. They set an “outperform” rating and a $12.00 target price for the company.

Several institutional investors have recently made changes to their positions in the business. Warburg Pincus LLC purchased a new position in shares of SOC Telemed in the fourth quarter valued at approximately $265,580,000. Alyeska Investment Group L.P. acquired a new position in SOC Telemed in the 4th quarter valued at $47,554,000. Engineers Gate Manager LP purchased a new position in SOC Telemed in the 4th quarter valued at $160,000. ExodusPoint Capital Management LP purchased a new stake in SOC Telemed in the 4th quarter valued at $1,747,000. Finally, Charles Schwab Investment Management Inc. acquired a new position in SOC Telemed in the fourth quarter valued at approximately $1,223,000. 20.70% of the stock is owned by institutional investors and hedge funds.

NASDAQ:TLMD traded down $0.19 during midday trading on Tuesday, hitting $8.61. The stock had a trading volume of 27,488 shares, compared to its average volume of 488,773. The company’s 50-day simple moving average is $7.65. SOC Telemed has a one year low of $6.75 and a one year high of $12.08.

SOC Telemed Company Profile

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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Analyst Recommendations for SOC Telemed (NASDAQ:TLMD)

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