Royal Bank of Canada Increases Teladoc Health (NYSE:TDOC) Price Target to $12.00

Teladoc Health (NYSE:TDOC) had its target price upped by investment analysts at Royal Bank of Canada from $11.00 to $12.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the health services provider’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 17.59% from the company’s current price.

A number of other analysts have also issued reports on TDOC. The Goldman Sachs Group began coverage on Teladoc Health in a report on Friday, November 15th. They issued a “buy” rating and a $14.00 target price for the company. Deutsche Bank Aktiengesellschaft increased their price objective on Teladoc Health from $10.00 to $12.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Piper Sandler reaffirmed an “overweight” rating and set a $13.00 target price (up previously from $11.00) on shares of Teladoc Health in a research note on Wednesday, December 4th. Barclays increased their price target on shares of Teladoc Health from $10.00 to $12.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Finally, TD Cowen lowered 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 Thursday, October 31st. Fourteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $12.08.

Teladoc Health Trading Up 0.6 %

Shares of NYSE TDOC traded up $0.07 during mid-day trading on Friday, hitting $10.21. 1,976,019 shares of the company traded hands, compared to its average volume of 4,120,373. The business has a 50 day moving average of $9.99 and a two-hundred day moving average of $9.04. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of -1.77 and a beta of 1.01. Teladoc Health has a 1 year low of $6.76 and a 1 year high of $21.74. The company has a quick ratio of 1.69, a current ratio of 1.73 and a debt-to-equity ratio of 0.66.

Teladoc Health (NYSE:TDOC) last posted its quarterly earnings data on Wednesday, October 30th. The health services provider reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.10. Teladoc Health had a negative net margin of 37.91% and a negative return on equity of 10.06%. The company had revenue of $640.51 million during the quarter, compared to analyst estimates of $630.50 million. On average, sell-side analysts anticipate that Teladoc Health will post -1.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Carlos Nueno sold 2,389 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $11.93, for a total value of $28,500.77. Following the sale, the insider now directly owns 2,890 shares of the company’s stock, valued at approximately $34,477.70. This trade represents a 45.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.95% of the stock is owned by insiders.

Institutional Trading of Teladoc Health

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Blue Trust Inc. lifted its holdings in shares of Teladoc Health by 84.5% during the third quarter. Blue Trust Inc. now owns 4,048 shares of the health services provider’s stock worth $40,000 after buying an additional 1,854 shares during the last quarter. Versant Capital Management Inc increased its position in Teladoc Health by 313.8% during the fourth quarter. Versant Capital Management Inc now owns 3,219 shares of the health services provider’s stock worth $29,000 after acquiring an additional 2,441 shares during the period. Westside Investment Management Inc. raised its stake in Teladoc Health by 43.8% during the 4th quarter. Westside Investment Management Inc. now owns 9,200 shares of the health services provider’s stock valued at $84,000 after purchasing an additional 2,800 shares during the last quarter. Private Advisor Group LLC boosted its holdings in Teladoc Health by 26.9% in the 3rd quarter. Private Advisor Group LLC now owns 13,990 shares of the health services provider’s stock valued at $128,000 after purchasing an additional 2,962 shares during the period. Finally, Benjamin F. Edwards & Company Inc. increased its holdings in shares of Teladoc Health by 209.8% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 5,015 shares of the health services provider’s stock worth $49,000 after purchasing an additional 3,396 shares during the period. Institutional investors and hedge funds own 76.82% of the company’s stock.

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.