Teladoc Health Sees Unusually High Options Volume (NYSE:TDOC)

Teladoc Health, Inc. (NYSE:TDOC) was the target of unusually large options trading on Tuesday. Traders purchased 34,782 call options on the company. This is an increase of approximately 193% compared to the typical daily volume of 11,869 call options.

Teladoc Health Stock Performance

NYSE TDOC traded up $0.95 on Tuesday, hitting $9.11. 11,810,621 shares of the company’s stock traded hands, compared to its average volume of 5,524,310. The firm has a market capitalization of $1.56 billion, a PE ratio of -6.44 and a beta of 0.90. Teladoc Health has a 1-year low of $6.76 and a 1-year high of $22.54. The firm’s 50-day moving average price is $8.05 and its two-hundred day moving average price is $11.02. The company has a current ratio of 1.66, a quick ratio of 1.62 and a debt-to-equity ratio of 0.66.

Teladoc Health (NYSE:TDOC) last posted its earnings results on Wednesday, July 31st. The health services provider reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.08. Teladoc Health had a negative net margin of 38.54% and a negative return on equity of 10.25%. The company had revenue of $642.44 million during the quarter, compared to the consensus estimate of $649.34 million. As a group, analysts expect that Teladoc Health will post -0.73 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Canaccord Genuity Group reduced their target price on shares of Teladoc Health from $25.00 to $17.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Truist Financial reduced their price objective on shares of Teladoc Health from $15.00 to $10.00 and set a “hold” rating for the company in a research note on Friday, August 2nd. Evercore ISI decreased their target price on shares of Teladoc Health from $14.00 to $10.00 and set an “in-line” rating for the company in a research report on Tuesday, July 9th. JPMorgan Chase & Co. cut their price target on shares of Teladoc Health from $16.00 to $9.00 and set a “neutral” rating on the stock in a report on Monday, August 26th. Finally, TD Cowen decreased their price objective on Teladoc Health from $15.00 to $9.00 and set a “hold” rating for the company in a report on Thursday, August 1st. Fifteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Teladoc Health currently has a consensus rating of “Hold” and a consensus target price of $12.31.

Insider Transactions at Teladoc Health

In other news, Director Thomas Mckinley acquired 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was purchased at an average cost of $7.69 per share, for a total transaction of $30,760.00. Following the completion of the acquisition, the director now directly owns 39,077 shares of the company’s stock, valued at approximately $300,502.13. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Teladoc Health news, insider Vidya Raman-Tangella sold 3,857 shares of the 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 sale, the insider now owns 33,667 shares of the company’s stock, valued at approximately $274,049.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Thomas Mckinley purchased 4,000 shares of Teladoc Health stock in a transaction dated Thursday, September 12th. The stock was bought at an average cost of $7.69 per share, with a total value of $30,760.00. Following the completion of the transaction, the director now owns 39,077 shares in the company, valued at approximately $300,502.13. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 57,819 shares of company stock valued at $442,204. 0.95% of the stock is currently owned by corporate insiders.

Institutional Trading of Teladoc Health

Hedge funds have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. raised its position in Teladoc Health by 194.2% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,891 shares of the health services provider’s stock valued at $67,000 after acquiring an additional 4,549 shares in the last quarter. Granite Bay Wealth Management LLC purchased a new stake in Teladoc Health in the 2nd quarter worth approximately $1,111,000. Doheny Asset Management CA acquired a new stake in shares of Teladoc Health during the 2nd quarter worth approximately $46,000. Clearline Capital LP increased its holdings in shares of Teladoc Health by 395.6% during the 2nd quarter. Clearline Capital LP now owns 4,364,201 shares of the health services provider’s stock valued at $42,682,000 after purchasing an additional 3,483,665 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC lifted its stake in shares of Teladoc Health by 32.9% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 265,513 shares of the health services provider’s stock valued at $2,597,000 after purchasing an additional 65,767 shares during the period. Hedge funds and other institutional investors 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.