SOC Telemed Inc. [TLMD] moved down -1.22: Why It’s Important

SOC Telemed Inc. [NASDAQ: TLMD] closed the trading session at $6.05 on 05/27/21. The day’s price range saw the stock hit a low of $5.95, while the highest price level was $6.45. The company report on May 27, 2021 that SOC Telemed Announces Pricing of Public Offering of Class A Common Stock.

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SOC Telemed, Inc. (Nasdaq: TLMD), the largest national provider of acute care telemedicine, announced the pricing of its previously announced underwritten public offering of 8,000,000 shares of its Class A Common Stock at a price to the public of $6.00 per share. In addition, SOC Telemed has granted the underwriters a 30-day option to purchase up to 1,200,000 additional shares of its Class A Common Stock at the public offering price, less the underwriting discounts and commissions. The aggregate gross proceeds to SOC Telemed from the offering are expected to be approximately $48.0 million, before deducting underwriting discounts and commissions and estimated offering expenses and assuming no exercise of the underwriters’ option to purchase additional shares. All of the shares are being offered by SOC Telemed. The offering is expected to close on June 1, 2021, subject to customary closing conditions.

SOC Telemed intends to use the net proceeds from this offering to repay outstanding indebtedness under its term loan facility and subordinated note borrowed to fund its recent acquisition of Access Physicians, with any remaining net proceeds used for working capital and general corporate purposes.

The stocks have a year to date performance of -22.83 percent and weekly performance of -20.50 percent. The stock has been moved at -24.94 percent over the last six months. The stock has performed -19.01 percent around the most recent 30 days and changed -23.90 percent over the most recent 3-months.

If compared to the average trading volume of 355.22K shares, TLMD reached to a volume of 4452005 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about SOC Telemed Inc. [TLMD]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for TLMD shares is $10.33 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on TLMD stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Credit Suisse have made an estimate for SOC Telemed Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on February 16, 2021. While these analysts kept the previous recommendation, RBC Capital Mkts raised their target price to Outperform. The new note on the price target was released on January 28, 2021, representing the official price target for SOC Telemed Inc. stock. Previously, the target price had yet another raise to $12, while The Benchmark Company analysts kept a Buy rating on TLMD stock.

The Average True Range (ATR) for SOC Telemed Inc. is set at 0.52, with the Price to Sales ratio for TLMD stock in the period of the last 12 months amounting to 9.48. The Price to Book ratio for the last quarter was 3.15, with the Price to Cash per share for the same quarter was set at 0.36.

TLMD stock trade performance evaluation

SOC Telemed Inc. [TLMD] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -20.50. With this latest performance, TLMD shares dropped by -19.01% in over the last four-week period, additionally sinking by -24.94% over the last 6 months – not to mention a drop of -38.89% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for TLMD stock in for the last two-week period is set at 35.27, with the RSI for the last a single of trading hit 29.17, and the three-weeks RSI is set at 38.90 for SOC Telemed Inc. [TLMD]. The present Moving Average for the last 50 days of trading for this stock 6.98, while it was recorded at 6.82 for the last single week of trading, and 8.33 for the last 200 days.

SOC Telemed Inc. [TLMD]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and SOC Telemed Inc. [TLMD] shares currently have an operating margin of -59.61 and a Gross Margin at +30.80. SOC Telemed Inc.’s Net Margin is presently recorded at -85.95.

Return on Total Capital for TLMD is now -23.22, given the latest momentum, and Return on Invested Capital for the company is -33.48. Return on Equity for this stock declined to -33.48, with Return on Assets sitting at -29.63.

Reflecting on the efficiency of the workforce at the company, SOC Telemed Inc. [TLMD] managed to generate an average of -$220,562 per employee. Receivables Turnover for the company is 13.30 with a Total Asset Turnover recorded at a value of 0.34.SOC Telemed Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.70 and a Current Ratio set at 2.70.

SOC Telemed Inc. [TLMD]: Insider Ownership positions

There are presently around $351 million, or 64.70% of TLMD stock, in the hands of institutional investors. The top three institutional holders of TLMD stocks are: WARBURG PINCUS LLC with ownership of 33,874,965, which is approximately 0% of the company’s market cap and around 8.80% of the total institutional ownership; ALYESKA INVESTMENT GROUP, L.P., holding 6,307,597 shares of the stock with an approximate value of $38.63 million in TLMD stocks shares; and BLACKROCK INC., currently with $16.27 million in TLMD stock with ownership of nearly 1.199% of the company’s market capitalization.

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Positions in SOC Telemed Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 42 institutional holders increased their position in SOC Telemed Inc. [NASDAQ:TLMD] by around 6,726,631 shares. Additionally, 25 investors decreased positions by around 5,431,541 shares, while 9 investors held positions by with 45,213,254 shares. The mentioned changes placed institutional holdings at 57,371,426 shares, according to the latest SEC report filing. TLMD stock had 24 new institutional investments in for a total of 5,985,258 shares, while 13 institutional investors sold positions of 4,238,812 shares during the same period.

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