TD Cowen Cuts Teladoc Health (NYSE:TDOC) Price Target to $9.00

Teladoc Health (NYSE:TDOC) had its price target trimmed by TD Cowen from $15.00 to $9.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have a hold rating on the health services provider’s stock.

Several other brokerages have also recently commented on TDOC. Oppenheimer dropped their target price on shares of Teladoc Health from $21.00 to $17.00 and set an outperform rating for the company in a research report on Thursday. Needham & Company LLC restated a hold rating on shares of Teladoc Health in a research report on Friday, April 26th. Stifel Nicolaus lowered their price objective on shares of Teladoc Health from $16.00 to $9.00 and set a hold rating for the company in a research report on Thursday. Wells Fargo & Company lowered their price objective on shares of Teladoc Health from $17.00 to $15.00 and set an equal weight rating for the company in a research report on Monday, April 29th. Finally, DA Davidson lowered their price objective on shares of Teladoc Health from $12.00 to $8.00 and set a neutral rating for the company in a research report on Thursday. Fourteen analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Teladoc Health presently has a consensus rating of Hold and an average price target of $14.44.

Teladoc Health Trading Down 6.4 %

Shares of Teladoc Health stock traded down $0.51 on Thursday, hitting $7.44. 1,455,289 shares of the company’s stock traded hands, compared to its average volume of 5,436,324. The firm’s 50-day moving average price is $9.88 and its two-hundred day moving average price is $13.61. The stock has a market capitalization of $1.26 billion, a PE ratio of -5.64 and a beta of 0.93. Teladoc Health has a one year low of $7.31 and a one year high of $26.00. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.82 and a quick ratio of 3.74.

Insider Activity

In other news, Director Karen L. Daniel sold 9,834 shares of Teladoc Health stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $11.90, for a total value of $117,024.60. Following the completion of the sale, the director now directly owns 36,995 shares in the company, valued at $440,240.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last ninety days, insiders sold 15,388 shares of company stock worth $178,225. Corporate insiders own 0.95% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Foundations Investment Advisors LLC raised its position in Teladoc Health by 101.2% during the second quarter. Foundations Investment Advisors LLC now owns 58,934 shares of the health services provider’s stock valued at $576,000 after purchasing an additional 29,646 shares in the last quarter. Rhumbline Advisers raised its position in Teladoc Health by 62.9% during the second quarter. Rhumbline Advisers now owns 276,535 shares of the health services provider’s stock valued at $2,704,000 after purchasing an additional 106,770 shares in the last quarter. AM Squared Ltd acquired a new position in Teladoc Health during the second quarter valued at approximately $100,000. nVerses Capital LLC raised its position in Teladoc Health by 1,600.0% during the second quarter. nVerses Capital LLC now owns 11,900 shares of the health services provider’s stock valued at $116,000 after purchasing an additional 11,200 shares in the last quarter. Finally, Mizuho Markets Americas LLC acquired a new position in Teladoc Health during the second quarter valued at approximately $3,937,000. 76.82% of the stock is currently owned by institutional investors and hedge funds.

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.