Teladoc Health (NYSE:TDOC) Given New $9.00 Price Target at JPMorgan Chase & Co.

Teladoc Health (NYSE:TDOC) had its price objective lowered by research analysts at JPMorgan Chase & Co. from $16.00 to $9.00 in a report issued on Monday, Benzinga reports. The firm presently has a “neutral” rating on the health services provider’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 22.45% from the company’s previous close.

A number of other research firms have also weighed in on TDOC. Evercore ISI cut their price objective on shares of Teladoc Health from $14.00 to $10.00 and set an “in-line” rating on the stock in a research note on Tuesday, July 9th. DA Davidson decreased their price objective on Teladoc Health from $12.00 to $8.00 and set a “neutral” rating for the company in a report on Thursday, August 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of Teladoc Health in a report on Thursday, August 1st. Canaccord Genuity Group reduced their price target on Teladoc Health from $25.00 to $17.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Finally, Barclays lowered their price objective on Teladoc Health from $20.00 to $10.00 and set an “overweight” rating on the stock in a research report on Thursday, August 1st. Fourteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Teladoc Health presently has a consensus rating of “Hold” and an average price target of $12.44.

Teladoc Health Stock Performance

Shares of NYSE:TDOC traded down $0.07 on Monday, hitting $7.35. 599,098 shares of the company were exchanged, compared to its average volume of 5,467,324. The firm has a market capitalization of $1.25 billion, a P/E ratio of -5.21 and a beta of 0.93. 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 has a 1-year low of $6.77 and a 1-year high of $23.19. The stock’s 50 day moving average price is $8.79 and its 200 day moving average price is $12.25.

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, beating the consensus estimate 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 business had revenue of $642.44 million for the quarter, compared to the consensus estimate of $649.34 million. Sell-side analysts predict that Teladoc Health will post -0.7 EPS for the current year.

Insiders Place Their Bets

In related news, CMO Stephany Verstraete sold 15,000 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $7.60, for a total value of $114,000.00. Following the completion of the sale, the chief marketing officer now owns 45,158 shares in the company, valued at approximately $343,200.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CMO Stephany Verstraete sold 15,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $7.60, for a total value of $114,000.00. Following the transaction, the chief marketing officer now owns 45,158 shares in the company, valued at approximately $343,200.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas Mckinley acquired 7,000 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were bought at an average cost of $7.57 per share, with a total value of $52,990.00. Following the completion of the transaction, the director now directly owns 31,077 shares in the company, valued at approximately $235,252.89. The disclosure for this purchase can be found here. Insiders have sold a total of 42,880 shares of company stock valued at $355,689 over the last quarter. Company insiders own 0.95% of the company’s stock.

Hedge Funds Weigh In On Teladoc Health

Several institutional investors have recently bought and sold shares of TDOC. Rubric Capital Management LP acquired a new stake in shares of Teladoc Health in the 2nd quarter valued at approximately $45,267,000. Point72 Asset Management L.P. raised its holdings in Teladoc Health by 221.9% during the second quarter. Point72 Asset Management L.P. now owns 5,303,123 shares of the health services provider’s stock worth $51,865,000 after purchasing an additional 3,655,436 shares during the last quarter. Clearline Capital LP grew its stake in Teladoc Health by 395.6% in 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 acquiring an additional 3,483,665 shares during the last quarter. Vanguard Group Inc. grew its position in shares of 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 purchasing an additional 1,855,480 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Teladoc Health by 25.0% during 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 buying an additional 767,999 shares during the last quarter. 76.82% of the stock is 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.