Teladoc Health (NYSE:TDOC) Shares Gap Up Following Analyst Upgrade

Teladoc Health, Inc. (NYSE:TDOC)’s share price gapped up before the market opened on Tuesday after Jefferies Financial Group raised their price target on the stock from $8.00 to $10.00. The stock had previously closed at $8.16, but opened at $8.91. Jefferies Financial Group currently has a hold rating on the stock. Teladoc Health shares last traded at $9.03, with a volume of 2,703,750 shares traded.

Several other research analysts have also recently weighed in on TDOC. TD Cowen lowered their price objective on Teladoc Health from $15.00 to $9.00 and set a “hold” rating on the stock in a research report on Thursday, August 1st. Oppenheimer reduced their price objective on Teladoc Health from $21.00 to $17.00 and set an “outperform” rating on the stock in a research note on Thursday, August 1st. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Teladoc Health from $15.00 to $10.00 and set a “hold” rating on the stock in a research note on Friday, August 2nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Teladoc Health in a research note on Thursday, August 1st. Finally, Canaccord Genuity Group lowered their target price 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. Fifteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $12.31.

Insider Activity

In related news, insider Vidya Raman-Tangella sold 3,857 shares of the firm’s stock in a transaction that occurred 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 directly owns 33,667 shares in the company, valued at approximately $274,049.38. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Teladoc Health news, Director Thomas Mckinley purchased 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was bought at an average price of $7.57 per share, with a total value of $52,990.00. Following the completion of the purchase, the director now directly owns 31,077 shares of the company’s stock, valued at approximately $235,252.89. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Vidya Raman-Tangella sold 3,857 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $8.14, for a total transaction of $31,395.98. Following the transaction, the insider now directly owns 33,667 shares in the company, valued at $274,049.38. The disclosure for this sale can be found here. In the last 90 days, insiders sold 57,819 shares of company stock valued at $442,204. Corporate insiders own 0.95% of the company’s stock.

Hedge Funds Weigh In On Teladoc Health

Institutional investors have recently bought and sold shares of the stock. Parallel Advisors LLC raised its position in shares of Teladoc Health by 14.6% in the 4th quarter. Parallel Advisors LLC now owns 4,038 shares of the health services provider’s stock worth $87,000 after acquiring an additional 515 shares in the last quarter. Ignite Planners LLC grew its position in shares of Teladoc Health by 6.9% in the 1st quarter. Ignite Planners LLC now owns 13,307 shares of the health services provider’s stock worth $198,000 after buying an additional 857 shares during the period. ICA Group Wealth Management LLC purchased a new position in Teladoc Health during the 4th quarter valued at about $28,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Teladoc Health by 2.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 65,588 shares of the health services provider’s stock worth $641,000 after acquiring an additional 1,352 shares in the last quarter. Finally, Covestor Ltd grew its holdings in Teladoc Health by 58.1% in the first quarter. Covestor Ltd now owns 3,817 shares of the health services provider’s stock worth $57,000 after purchasing an additional 1,403 shares during the period. 76.82% of the stock is owned by institutional investors.

Teladoc Health Stock Up 10.7 %

The stock’s 50 day simple moving average is $8.05 and its two-hundred day simple moving average is $11.02. The firm has a market cap of $1.55 billion, a P/E ratio of -6.40 and a beta of 0.90. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.66 and a quick ratio of 1.62.

Teladoc Health (NYSE:TDOC) last posted its quarterly earnings data on Wednesday, July 31st. The health services provider reported ($0.28) earnings per share for the quarter, beating 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 analyst estimates of $649.34 million. As a group, research analysts forecast that Teladoc Health, Inc. will post -0.73 earnings per share for the current year.

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.