Teladoc Health (NYSE:TDOC) Shares Up 5.3%

Teladoc Health, Inc. (NYSE:TDOC)’s share price rose 5.3% during trading on Wednesday . The stock traded as high as $7.78 and last traded at $7.77. Approximately 2,210,796 shares were traded during mid-day trading, a decline of 60% from the average daily volume of 5,506,659 shares. The stock had previously closed at $7.38.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TDOC. Barclays decreased their price objective on Teladoc Health from $20.00 to $10.00 and set an “overweight” rating on the stock in a research note on Thursday, August 1st. Needham & Company LLC reissued a “hold” rating on shares of Teladoc Health in a research note on Thursday, August 1st. JPMorgan Chase & Co. dropped their price target on shares of Teladoc Health from $16.00 to $9.00 and set a “neutral” rating for the company in a research report on Monday, August 26th. TD Cowen lowered their price objective on shares of Teladoc Health from $15.00 to $9.00 and set a “hold” rating for the company in a research note on Thursday, August 1st. Finally, Piper Sandler reduced their price objective on Teladoc Health from $25.00 to $10.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Fourteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $12.44.

Teladoc Health Price Performance

The company has a quick ratio of 1.62, a current ratio of 1.66 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $1.27 billion, a PE ratio of -5.37 and a beta of 0.90. The stock’s 50-day moving average is $8.29 and its 200 day moving average is $11.52.

Teladoc Health (NYSE:TDOC) last posted its quarterly earnings results on Wednesday, July 31st. The health services provider reported ($0.28) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.08. Teladoc Health had a negative return on equity of 10.25% and a negative net margin of 38.54%. The company had revenue of $642.44 million during the quarter, compared to the consensus estimate of $649.34 million. As a group, equities analysts predict that Teladoc Health, Inc. will post -0.71 earnings per share for the current year.

Insider Buying and Selling at Teladoc Health

In related news, insider Vidya Raman-Tangella sold 3,857 shares of Teladoc Health stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $8.14, for a total transaction of $31,395.98. Following the sale, the insider now directly owns 33,667 shares of the company’s stock, valued at $274,049.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Teladoc Health news, insider Vidya Raman-Tangella sold 3,857 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $8.14, for a total transaction of $31,395.98. Following the transaction, the insider now owns 33,667 shares of the company’s stock, valued at approximately $274,049.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Mala Murthy sold 8,750 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $7.16, for a total value of $62,650.00. Following the sale, the chief financial officer now owns 85,767 shares of the company’s stock, valued at approximately $614,091.72. The disclosure for this sale can be found here. Insiders sold 57,819 shares of company stock worth $442,204 over the last ninety days. Company insiders own 0.95% of the company’s stock.

Institutional Trading of Teladoc Health

Hedge funds have recently bought and sold shares of the stock. Allianz Asset Management GmbH boosted its position in Teladoc Health by 15.4% during the fourth quarter. Allianz Asset Management GmbH now owns 604,238 shares of the health services provider’s stock valued at $13,021,000 after purchasing an additional 80,805 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Teladoc Health by 74.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 20,568 shares of the health services provider’s stock worth $311,000 after buying an additional 8,750 shares during the last quarter. Janney Montgomery Scott LLC raised its position in Teladoc Health by 188.7% during the first quarter. Janney Montgomery Scott LLC now owns 31,594 shares of the health services provider’s stock worth $477,000 after acquiring an additional 20,651 shares in the last quarter. Vanguard Group Inc. lifted its stake in Teladoc Health by 11.8% in the fourth quarter. Vanguard Group Inc. now owns 17,515,127 shares of the health services provider’s stock valued at $377,451,000 after acquiring an additional 1,855,480 shares during the last quarter. Finally, Pale Fire Capital SE bought a new position in shares of Teladoc Health in the 4th quarter valued at about $8,960,000. 76.82% of the stock is currently owned by institutional investors and hedge funds.

Teladoc Health Company Profile

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.