SOC Telemed (NASDAQ:TLMD) Price Target Lowered to $2.00 at Benchmark

SOC Telemed (NASDAQ:TLMD) had its target price cut by equities research analysts at Benchmark from $7.00 to $2.00 in a note issued to investors on Thursday, The Fly reports. Benchmark’s price objective would suggest a potential upside of 130.23% from the company’s current price.

Several other equities research analysts also recently weighed in on the stock. Credit Suisse Group downgraded shares of SOC Telemed from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $6.00 to $2.00 in a research note on Friday, January 7th. Zacks Investment Research raised shares of SOC Telemed from a “sell” rating to a “hold” rating in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $4.38.

NASDAQ:TLMD opened at $0.87 on Thursday. The company’s 50-day moving average is $1.77 and its two-hundred day moving average is $2.73. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.33 and a quick ratio of 3.25. SOC Telemed has a 1-year low of $0.86 and a 1-year high of $9.48. The firm has a market capitalization of $87.60 million, a price-to-earnings ratio of -0.38 and a beta of 0.04.

SOC Telemed (NASDAQ:TLMD) last issued its quarterly earnings data on Friday, November 12th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.09. SOC Telemed had a negative net margin of 77.17% and a negative return on equity of 49.59%. The firm had revenue of $26.68 million for the quarter, compared to analyst estimates of $25.90 million. During the same period in the prior year, the business posted ($0.14) EPS. As a group, equities analysts anticipate that SOC Telemed will post -0.67 earnings per share for the current fiscal year.

Several large investors have recently made changes to their positions in TLMD. Invesco Ltd. boosted its holdings in shares of SOC Telemed by 45.9% in the 3rd quarter. Invesco Ltd. now owns 15,909 shares of the company’s stock valued at $36,000 after buying an additional 5,004 shares in the last quarter. Royal Bank of Canada boosted its holdings in shares of SOC Telemed by 1.6% in the 3rd quarter. Royal Bank of Canada now owns 347,864 shares of the company’s stock valued at $785,000 after buying an additional 5,567 shares in the last quarter. Legal & General Group Plc acquired a new position in shares of SOC Telemed in the 2nd quarter valued at $43,000. Voya Investment Management LLC boosted its holdings in shares of SOC Telemed by 48.2% in the 3rd quarter. Voya Investment Management LLC now owns 24,133 shares of the company’s stock valued at $55,000 after buying an additional 7,852 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in SOC Telemed by 6.0% during the 2nd quarter. Bank of America Corp DE now owns 141,328 shares of the company’s stock worth $805,000 after purchasing an additional 8,034 shares during the period. 66.23% of the stock is currently owned by institutional investors.

SOC Telemed Company Profile

SOC Telemed, Inc provides acute care telemedicine services and technology to hospitals, health systems, physician groups, and government organizations in the United States. The company's technology platform, Telemed IQ, provides telemedicine programs. Its telemedicine solutions include teleNeurology, telePulmonology, telePsychiatry, and teleICU.

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