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

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

A number of other research firms have also issued reports on TDOC. Evercore ISI lifted their price objective on shares of Teladoc Health from $8.00 to $9.00 and gave the company an “in-line” rating in a research note on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Teladoc Health from $10.00 to $12.00 and gave the stock a “hold” rating in a report on Friday, November 1st. TD Cowen lowered their target price on Teladoc Health from $9.00 to $8.00 and set a “hold” rating for the company in a research note on Thursday, October 31st. Oppenheimer cut their price target on Teladoc Health from $14.00 to $12.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, Piper Sandler restated an “overweight” rating and set a $13.00 price objective (up previously from $11.00) on shares of Teladoc Health in a research note on Wednesday, December 4th. Fourteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $12.08.

Teladoc Health Trading Up 0.6 %

Shares of Teladoc Health stock traded up $0.07 during trading hours on Friday, hitting $10.21. The company’s stock had a trading volume of 1,976,019 shares, compared to its average volume of 4,120,373. The business has a fifty day moving average of $9.99 and a 200 day moving average of $9.04. 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. The company has a market capitalization of $1.76 billion, a PE ratio of -1.77 and a beta of 1.01.

Teladoc Health (NYSE:TDOC) last released its quarterly earnings data on Wednesday, October 30th. The health services provider reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.10. Teladoc Health had a negative return on equity of 10.06% and a negative net margin of 37.91%. The company had revenue of $640.51 million for the quarter, compared to analyst estimates of $630.50 million. As a group, equities analysts forecast that Teladoc Health will post -1.16 EPS for the current year.

Insider Activity

In other Teladoc Health news, insider Carlos Nueno sold 2,389 shares of Teladoc Health stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $11.93, for a total transaction of $28,500.77. Following the sale, the insider now owns 2,890 shares of the company’s stock, valued at $34,477.70. The trade was a 45.25 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.95% of the company’s stock.

Institutional Investors Weigh In On Teladoc Health

A number of hedge funds and other institutional investors have recently modified their holdings of TDOC. Versant Capital Management Inc lifted its stake in shares of Teladoc Health by 313.8% in the 4th 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. Blue Trust Inc. lifted its position in Teladoc Health by 84.5% in the third quarter. Blue Trust Inc. now owns 4,048 shares of the health services provider’s stock worth $40,000 after purchasing an additional 1,854 shares during the period. Doheny Asset Management CA bought a new position in Teladoc Health during the 2nd quarter valued at $46,000. Benjamin F. Edwards & Company Inc. increased its position 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 valued at $49,000 after purchasing an additional 3,396 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. raised its stake in shares of Teladoc Health by 194.2% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,891 shares of the health services provider’s stock worth $67,000 after buying an additional 4,549 shares in the last quarter. 76.82% of the stock is currently owned by institutional investors.

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.