Teladoc Health (NYSE:TDOC – Get Free Report) had its price target raised by equities research analysts at Barclays from $7.00 to $9.00 in a report released on Wednesday, Benzinga reports. The firm currently has an “equal weight” rating on the health services provider’s stock. Barclays‘s price target points to a potential downside of 7.46% from the company’s current price.
TDOC has been the topic of a number of other research reports. Argus lowered shares of Teladoc Health from a “hold” rating to a “sell” rating in a research note on Monday. JPMorgan Chase & Co. boosted their price objective on shares of Teladoc Health from $8.00 to $10.00 and gave the company a “neutral” rating in a report on Friday, October 30th. Truist Financial cut their target price on Teladoc Health from $9.00 to $8.00 and set a “hold” rating on the stock in a research report on Friday, August 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Teladoc Health in a research note on Wednesday, August 19th. Finally, Stifel Nicolaus lifted their price target on Teladoc Health from $5.50 to $6.50 and gave the stock a “hold” rating in a research report on Thursday, October 29th. Five equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $8.27.
Get Our Latest Report on Teladoc Health
Teladoc Health Stock Performance
Shares of TDOC traded up $0.83 during mid-day trading on Wednesday, reaching $9.72. The stock had a trading volume of 4,209,168 shares, compared to its average volume of 5,115,540. The business has a fifty day moving average of $6.33 and a 200 day moving average of $6.49. The firm has a market cap of $1.77 billion, a price-to-earnings ratio of -11.31 and a beta of 2.00. Teladoc Health has a 12 month low of $4.40 and a 12 month high of $9.89.
Teladoc Health (NYSE:TDOC – Get Free Report) last announced its quarterly earnings data on Wednesday, October 28th. The health services provider reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.07. Teladoc Health had a negative return on equity of 11.63% and a negative net margin of 6.27%. The company had revenue of $605.10 million for the quarter, compared to the consensus estimate of $588.14 million. During the same quarter in the prior year, the company posted ($0.28) EPS. Teladoc Health’s quarterly revenue was down 3.4% on a year-over-year basis. On average, research analysts forecast that Teladoc Health will post -0.87 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, CEO Charles III sold 17,805 shares of the company’s stock in a transaction on Friday, September 11th. The stock was sold at an average price of $6.10, for a total transaction of $108,610.50. Following the transaction, the chief executive officer owned 465,535 shares of the company’s stock, valued at $2,839,763.50. This represents a 3.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.70% of the stock is owned by corporate insiders.
Institutional Trading of Teladoc Health
A number of institutional investors and hedge funds have recently bought and sold shares of TDOC. AlphaCore Capital LLC acquired a new stake in shares of Teladoc Health in the 3rd quarter worth approximately $92,000. Fulcrum Asset Management LLP acquired a new position in shares of Teladoc Health during the third quarter valued at approximately $117,000. Formidable Asset Management LLC raised its holdings in Teladoc Health by 6.2% during the third quarter. Formidable Asset Management LLC now owns 27,935 shares of the health services provider’s stock worth $162,000 after purchasing an additional 1,625 shares in the last quarter. Platform Technology Partners bought a new stake in Teladoc Health during the third quarter worth approximately $91,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Teladoc Health during the third quarter worth approximately $60,000. Institutional investors and hedge funds own 76.82% of the company’s stock.
About Teladoc Health
Teladoc Health, Inc provides virtual healthcare services and technology designed to connect patients with medical professionals remotely. Through its digital platforms, the company supports a range of healthcare needs, including general medical consultations, mental health services, specialty care, and ongoing management of chronic conditions.
Its offerings include telehealth visits with physicians and other licensed providers, behavioral health services through BetterHelp, and chronic care programs that use digital tools and clinical support to help people manage conditions such as diabetes and hypertension.
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