Teladoc Health (NYSE:TDOC) Releases Q2 2024 Earnings Guidance

Teladoc Health (NYSE:TDOC) updated its second quarter 2024 earnings guidance on Thursday. The company provided earnings per share guidance of -0.450–0.350 for the period, compared to the consensus earnings per share estimate of -0.300. The company issued revenue guidance of $635.0 million-$660.0 million, compared to the consensus revenue estimate of $662.6 million. Teladoc Health also updated its FY24 guidance to ($1.10)-($0.80) EPS.

Wall Street Analyst Weigh In

Several research firms recently commented on TDOC. Leerink Partnrs reiterated a market perform rating on shares of Teladoc Health in a research note on Monday, February 26th. Stifel Nicolaus decreased their target price on shares of Teladoc Health from $21.00 to $16.00 and set a hold rating for the company in a research report on Friday. TD Cowen reduced their price objective on shares of Teladoc Health from $16.00 to $15.00 and set a hold rating for the company in a report on Friday. Truist Financial dropped their price objective on Teladoc Health from $23.00 to $17.00 and set a hold rating on the stock in a research note on Wednesday, March 6th. Finally, Needham & Company LLC restated a hold rating on shares of Teladoc Health in a research report on Friday. Eleven analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Teladoc Health currently has an average rating of Hold and an average target price of $19.67.

Teladoc Health Trading Down 2.4 %

Teladoc Health stock traded down $0.32 during mid-day trading on Friday, hitting $13.01. 7,696,741 shares of the stock were exchanged, compared to its average volume of 4,813,149. The firm’s fifty day simple moving average is $15.01 and its two-hundred day simple moving average is $17.77. The company has a quick ratio of 3.47, a current ratio of 3.54 and a debt-to-equity ratio of 0.66. Teladoc Health has a 12 month low of $12.65 and a 12 month high of $30.41.

Teladoc Health (NYSE:TDOC) last posted its quarterly earnings results on Thursday, April 25th. The health services provider reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.02). Teladoc Health had a negative return on equity of 10.11% and a negative net margin of 8.90%. The firm had revenue of $646.13 million for the quarter, compared to analyst estimates of $637.31 million. During the same period last year, the company posted ($0.37) earnings per share. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. As a group, equities analysts predict that Teladoc Health will post -1.07 earnings per share for the current year.

Insider Transactions at Teladoc Health

In other Teladoc Health news, CTO Nikolaos P. Nanis sold 2,866 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $14.52, for a total transaction of $41,614.32. Following the transaction, the chief technology officer now directly owns 69,850 shares in the company, valued at approximately $1,014,222. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, COO Michael Willem Waters sold 4,523 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $19.18, for a total transaction of $86,751.14. Following the completion of the transaction, the chief operating officer now owns 38,570 shares in the company, valued at approximately $739,772.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Nikolaos P. Nanis sold 2,866 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $14.52, for a total transaction of $41,614.32. Following the sale, the chief technology officer now directly owns 69,850 shares in the company, valued at $1,014,222. The disclosure for this sale can be found here. Insiders sold a total of 135,441 shares of company stock valued at $2,038,251 over the last ninety days. 1.63% of the stock is currently owned by insiders.

About Teladoc Health

Teladoc Health, Inc provides virtual healthcare services worldwide. The company operates through Teladoc Health Integrated Care and BetterHelp segments. The Integrated Care segment offers virtual medical services, including general medical, expert medical, specialty medical, chronic condition management, and mental health, as well as enabling technologies and enterprise telehealth solutions for hospitals and health systems.