Argus cut shares of Teladoc Health (NYSE:TDOC – Free Report) from a hold rating to a sell rating in a research note released on Monday, MarketBeat reports.
TDOC has been the topic of several other research reports. Citigroup cut their target price on Teladoc Health from $11.00 to $7.50 and set a “neutral” rating on the stock in a research report on Monday, August 3rd. Stifel Nicolaus increased their price target on Teladoc Health from $5.50 to $6.50 and gave the company a “hold” rating in a research report on Thursday, October 29th. Canaccord Genuity Group dropped their price objective on Teladoc Health from $11.00 to $10.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. JPMorgan Chase & Co. lifted their price objective on shares of Teladoc Health from $8.00 to $10.00 and gave the stock a “neutral” rating in a report on Friday, October 30th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Teladoc Health in a report on Thursday, October 29th. Five analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $8.27.
Check Out Our Latest Research Report on TDOC
Teladoc Health Trading Up 8.6%
Teladoc Health stock opened at $9.66 on Monday. The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of -11.23 and a beta of 2.00. The firm’s fifty day moving average price is $6.40 and its two-hundred day moving average price is $6.51. Teladoc Health has a 1-year low of $4.40 and a 1-year high of $9.89.
Teladoc Health (NYSE:TDOC – Get Free Report) last posted its earnings results on Wednesday, October 28th. The health services provider reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.07. Teladoc Health had a negative net margin of 6.27% and a negative return on equity of 11.63%. The company had revenue of $605.10 million during the quarter, compared to the consensus estimate of $588.14 million. During the same period in the previous year, the firm posted ($0.28) earnings per share. The firm’s revenue for the quarter was down 3.4% on a year-over-year basis. On average, research analysts forecast that Teladoc Health will post -0.86 EPS for the current year.
Insiders Place Their Bets
In related news, CEO Charles III sold 17,805 shares of the firm’s stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $6.10, for a total transaction of $108,610.50. Following the completion of the sale, the chief executive officer owned 465,535 shares in the company, valued at approximately $2,839,763.50. This trade represents a 3.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 0.70% of the company’s stock.
Institutional Trading of Teladoc Health
Several hedge funds have recently added to or reduced their stakes in TDOC. AlphaCore Capital LLC purchased a new stake in Teladoc Health in the third quarter worth $92,000. Fulcrum Asset Management LLP bought a new stake in shares of Teladoc Health in the third quarter valued at $117,000. Formidable Asset Management LLC lifted its position in shares of Teladoc Health by 6.2% during the 3rd quarter. Formidable Asset Management LLC now owns 27,935 shares of the health services provider’s stock valued at $162,000 after buying an additional 1,625 shares during the last quarter. Platform Technology Partners purchased a new position in shares of Teladoc Health during the 3rd quarter valued at $91,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Teladoc Health during the 3rd quarter valued at $60,000. Institutional investors 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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