Teladoc Health (NYSE:TDOC) Trading Down 4.9% – Here’s Why

Teladoc Health, Inc. (NYSE:TDOC)’s share price was down 4.9% during trading on Thursday . The company traded as low as $9.27 and last traded at $9.30. Approximately 1,319,425 shares changed hands during trading, a decline of 76% from the average daily volume of 5,450,703 shares. The stock had previously closed at $9.78.

Analysts Set New Price Targets

TDOC has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft decreased their price target 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. Royal Bank of Canada upped their price target on Teladoc Health from $9.00 to $10.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 9th. Evercore ISI raised their price objective on Teladoc Health from $8.00 to $9.00 and gave the company an “in-line” rating in a research report on Tuesday, October 8th. Piper Sandler reduced their target price on shares of Teladoc Health from $25.00 to $10.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Finally, DA Davidson lowered their price target on shares of Teladoc Health from $12.00 to $8.00 and set a “neutral” rating for the company in a research report on Thursday, August 1st. Fifteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $11.81.

Teladoc Health Stock Down 2.8 %

The company has a market capitalization of $1.63 billion, a PE ratio of -1.60 and a beta of 0.91. 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 company’s 50 day moving average is $8.02 and its two-hundred day moving average is $10.11.

Teladoc Health (NYSE:TDOC) last posted its earnings results on Wednesday, July 31st. The health services provider reported ($0.28) EPS 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 for the quarter, compared to the consensus estimate of $649.34 million. On average, analysts anticipate that Teladoc Health, Inc. will post -1.18 earnings per share for the current year.

Insider Transactions at Teladoc Health

In related news, Director Thomas Mckinley purchased 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were bought at an average price of $7.69 per share, for a total transaction of $30,760.00. Following the acquisition, the director now owns 39,077 shares of the company’s stock, valued at approximately $300,502.13. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CMO Stephany Verstraete sold 15,000 shares of Teladoc Health stock in a transaction that occurred 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 transaction, the chief marketing officer now owns 45,158 shares of the company’s stock, valued at $343,200.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas Mckinley purchased 4,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was acquired at an average price of $7.69 per share, with a total value of $30,760.00. Following the completion of the purchase, the director now owns 39,077 shares of the company’s stock, valued at $300,502.13. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 57,377 shares of company stock worth $438,054 in the last three months. Insiders own 0.95% of the company’s stock.

Institutional Trading of Teladoc Health

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake 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 worth $377,451,000 after buying an additional 1,855,480 shares during the last quarter. Point72 Asset Management L.P. grew its stake in shares of Teladoc Health by 221.9% during the 2nd 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 period. Rubric Capital Management LP purchased a new position in shares of Teladoc Health during the 2nd quarter valued at approximately $45,267,000. Clearline Capital LP lifted its stake in shares of 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 purchasing an additional 3,483,665 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Teladoc Health by 1.7% during the second quarter. Bank of New York Mellon Corp now owns 916,129 shares of the health services provider’s stock worth $8,960,000 after buying an additional 14,910 shares in the last quarter. Institutional investors and hedge funds own 76.82% of the company’s stock.

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.