DA Davidson Trims Teladoc Health (NYSE:TDOC) Target Price to $8.00

Teladoc Health (NYSE:TDOC) had its price objective cut by DA Davidson from $12.00 to $8.00 in a report released on Thursday, Benzinga reports. They currently have a neutral rating on the health services provider’s stock.

Other analysts have also recently issued reports about the company. Evercore ISI dropped their price target on Teladoc Health from $14.00 to $10.00 and set an in-line rating on the stock in a research report on Tuesday, July 9th. JPMorgan Chase & Co. reduced their price objective on shares of Teladoc Health from $19.00 to $16.00 and set a neutral rating on the stock in a research report on Tuesday, May 21st. Wells Fargo & Company dropped their price objective on shares of Teladoc Health from $17.00 to $15.00 and set an equal weight rating on the stock in a research note on Monday, April 29th. Barclays lowered their price objective on shares of Teladoc Health from $25.00 to $20.00 and set an overweight rating for the company in a research note on Friday, April 26th. Finally, Oppenheimer cut their price objective on shares of Teladoc Health from $21.00 to $17.00 and set an outperform rating for the company in a report on Thursday. Fourteen analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Teladoc Health has a consensus rating of Hold and a consensus target price of $14.44.

Teladoc Health Stock Down 4.4 %

TDOC traded down $0.35 during midday trading on Thursday, reaching $7.60. 8,597,062 shares of the company were exchanged, compared to its average volume of 5,484,255. Teladoc Health has a one year low of $7.31 and a one year high of $26.00. The company’s fifty day moving average price is $9.88 and its 200 day moving average price is $13.61. The company has a debt-to-equity ratio of 0.67, a quick ratio of 3.74 and a current ratio of 3.82. The company has a market cap of $1.29 billion, a price-to-earnings ratio of -5.64 and a beta of 0.93.

Insider Activity

In other news, Director Karen L. Daniel sold 9,834 shares of the business’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $11.90, for a total value of $117,024.60. Following the transaction, the director now directly owns 36,995 shares in the company, valued at $440,240.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Karen L. Daniel sold 9,834 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $11.90, for a total value of $117,024.60. Following the transaction, the director now directly owns 36,995 shares of the company’s stock, valued at approximately $440,240.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Laizer Kornwasser sold 10,879 shares of Teladoc Health stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $8.14, for a total transaction of $88,555.06. Following the completion of the sale, the chief executive officer now owns 99,929 shares of the company’s stock, valued at approximately $813,422.06. The disclosure for this sale can be found here. Insiders sold a total of 36,177 shares of company stock worth $347,447 in the last quarter. 0.95% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of Teladoc Health by 11.8% in the 4th quarter. Vanguard Group Inc. now owns 17,515,127 shares of the health services provider’s stock valued at $377,451,000 after purchasing an additional 1,855,480 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Teladoc Health by 25.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,834,422 shares of the health services provider’s stock valued at $82,636,000 after purchasing an additional 767,999 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Teladoc Health by 6.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,654,116 shares of the health services provider’s stock valued at $35,646,000 after buying an additional 104,531 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Teladoc Health by 1.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 916,129 shares of the health services provider’s stock worth $8,960,000 after buying an additional 14,910 shares during the last quarter. Finally, Allianz Asset Management GmbH grew its stake in Teladoc Health by 15.4% in the fourth quarter. Allianz Asset Management GmbH now owns 604,238 shares of the health services provider’s stock worth $13,021,000 after purchasing an additional 80,805 shares during the period. 76.82% of the stock is owned by hedge funds and other institutional investors.

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.