Teladoc Health (NYSE:TDOC – Free Report) had its target price lifted by TD Cowen from $6.00 to $8.00 in a research report report published on Monday morning,Benzinga reports. TD Cowen currently has a hold rating on the health services provider’s stock.
Several other analysts have also recently weighed in on TDOC. Bank of America raised their price target on Teladoc Health from $10.50 to $11.50 in a report on Thursday, October 29th. Stifel Nicolaus boosted their price objective on Teladoc Health from $5.50 to $6.50 and gave the stock a “hold” rating in a report on Thursday, October 29th. Needham & Company LLC reissued a “hold” rating on shares of Teladoc Health in a report on Thursday, October 29th. Truist Financial decreased their price objective on shares of Teladoc Health from $9.00 to $8.00 and set a “hold” rating on the stock in a research report on Friday, August 14th. Finally, JPMorgan Chase & Co. raised their target price on shares of Teladoc Health from $8.00 to $10.00 and gave the company a “neutral” rating in a research note on Friday, October 30th. Five analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Teladoc Health currently has an average rating of “Hold” and a consensus price target of $8.53.
Check Out Our Latest Stock Report on TDOC
Teladoc Health Stock Down 0.1%
TDOC stock opened at $8.94 on Monday. The firm has a market capitalization of $1.63 billion, a PE ratio of -10.39 and a beta of 2.00. Teladoc Health has a twelve month low of $4.40 and a twelve month high of $9.89. The stock has a 50-day simple moving average of $6.67 and a two-hundred day simple moving average of $6.58.
Teladoc Health (NYSE:TDOC – Get Free Report) last posted its earnings results on Wednesday, October 28th. The health services provider reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $605.10 million for the quarter, compared to analyst estimates of $588.14 million. During the same quarter in the prior year, the firm posted ($0.28) EPS. Teladoc Health’s revenue was down 3.4% on a year-over-year basis. On average, equities research analysts anticipate that Teladoc Health will post -0.86 EPS for the current fiscal year.
Insider Buying and Selling
In other Teladoc Health news, CEO Charles III sold 17,805 shares of Teladoc Health stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $6.10, for a total transaction of $108,610.50. Following the transaction, the chief executive officer directly owned 465,535 shares of the company’s stock, 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 legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Carlos Nueno sold 29,432 shares of the business’s stock in a transaction that occurred on Friday, November 6th. The stock was sold at an average price of $9.20, for a total transaction of $270,774.40. Following the completion of the sale, the insider owned 35,312 shares of the company’s stock, valued at approximately $324,870.40. The trade was a 45.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 47,892 shares of company stock valued at $383,086 in the last 90 days. 0.70% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Teladoc Health
A number of institutional investors have recently made changes to their positions in the business. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Teladoc Health in the second quarter worth $1,447,000. Counterpoint Mutual Funds LLC boosted its position in Teladoc Health by 1,017.4% during the third quarter. Counterpoint Mutual Funds LLC now owns 1,650,165 shares of the health services provider’s stock valued at $9,571,000 after buying an additional 1,502,488 shares during the period. Monaco Asset Management SAM bought a new position in shares of Teladoc Health during the second quarter valued at about $26,864,000. ABS Investment Management LLC bought a new position in shares of Teladoc Health during the second quarter valued at about $1,513,154. Finally, ABS Direct Equity Fund LLC purchased a new position in shares of Teladoc Health in the second quarter worth about $1,513,000. Hedge funds and other institutional investors own 76.82% of the company’s stock.
Teladoc Health Company Profile
Teladoc Health, Inc. provides virtual healthcare services through a digital platform that connects individuals with clinicians and other health professionals. Its offerings include virtual primary and specialty care, mental health services, and support for managing chronic conditions. The company serves members in the United States and internationally, with services and availability varying by market. Its consumer mental health services include BetterHelp, while its chronic-care programs draw on technology and services developed by Livongo, which Teladoc acquired in 2020.
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