Teladoc Health (NYSE:TDOC) Downgraded by Cowen

Cowen cut shares of Teladoc Health (NYSE:TDOC – Get Rating) from an outperform rating to a market perform rating in a research note published on Tuesday morning, MarketBeat.com reports. They currently have $34.00 target price on the health services provider’s stock, down from their prior target price of $58.00.

Several other analysts have also recently issued reports on the company. Deutsche Bank Aktiengesellschaft decreased their price objective on Teladoc Health from $44.00 to $34.00 in a report on Friday, July 29th. Piper Sandler cut their target price on Teladoc Health from $42.00 to $40.00 and set an overweight rating on the stock in a research report on Thursday, July 28th. Stifel Nicolaus cut their target price on Teladoc Health from $36.00 to $30.00 in a research report on Thursday, July 28th. Needham & Company LLC downgraded Teladoc Health from a buy rating to a hold rating in a research report on Thursday, July 28th. Finally, Oppenheimer cut their target price on Teladoc Health from $65.00 to $55.00 and set an outperform rating on the stock in a research report on Thursday, July 28th. One analyst has rated the stock with a sell rating, twenty-three have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Teladoc Health currently has an average rating of Hold and an average target price of $71.03.

Teladoc Health Stock Up 0.1 %

Shares of TDOC opened at $37.48 on Tuesday. The stock has a market capitalization of $6.04 billion, a price-to-earnings ratio of -0.61 and a beta of 0.82. Teladoc Health has a 1 year low of $27.38 and a 1 year high of $156.82. The business’s 50 day simple moving average is $36.47 and its 200-day simple moving average is $51.88. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.94 and a quick ratio of 3.71.

Insider Buying and Selling

In related news, SVP Daniel Trencher sold 1,000 shares of the firm’s stock in a transaction dated Monday, July 18th. The stock was sold at an average price of $41.12, for a total transaction of $41,120.00. Following the sale, the senior vice president now directly owns 27,408 shares of the company’s stock, valued at $1,127,016.96. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Teladoc Health news, CFO Mala Murthy sold 4,053 shares of the firm’s stock in a transaction that occurred on Monday, June 27th. The stock was sold at an average price of $37.32, for a total value of $151,257.96. Following the sale, the chief financial officer now directly owns 27,295 shares of the company’s stock, valued at $1,018,649.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Daniel Trencher sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, July 18th. The shares were sold at an average price of $41.12, for a total value of $41,120.00. Following the completion of the sale, the senior vice president now directly owns 27,408 shares in the company, valued at $1,127,016.96. The disclosure for this sale can be found here. Insiders have sold a total of 6,053 shares of company stock valued at $221,498 over the last ninety days. Company insiders own 1.55% of the company’s stock.

Hedge Funds Weigh In On Teladoc Health

Several hedge funds and other institutional investors have recently made changes to their positions in the company. State Board of Administration of Florida Retirement System lifted its position in shares of Teladoc Health by 5.7% in the second quarter. State Board of Administration of Florida Retirement System now owns 195,473 shares of the health services provider’s stock valued at $6,492,000 after acquiring an additional 10,583 shares in the last quarter. Landscape Capital Management L.L.C. purchased a new position in shares of Teladoc Health in the second quarter valued at approximately $441,000. Meridian Wealth Management LLC lifted its position in Teladoc Health by 55.0% during the second quarter. Meridian Wealth Management LLC now owns 17,620 shares of the health services provider’s stock worth $585,000 after buying an additional 6,253 shares in the last quarter. Interchange Capital Partners LLC lifted its position in Teladoc Health by 4.4% during the second quarter. Interchange Capital Partners LLC now owns 10,395 shares of the health services provider’s stock worth $345,000 after buying an additional 437 shares in the last quarter. Finally, CMG Global Holdings LLC purchased a new position in Teladoc Health during the second quarter worth approximately $407,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

About Teladoc Health

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Teladoc Health, Inc provides virtual healthcare services in the United States and internationally. The company offers a portfolio of services and solutions covering non-urgent, episodic, chronic, and complicated medical conditions, including diabetes, hypertension, chronic kidney disease, cancer, congestive heart failure, and mental health conditions.