Teladoc Health Target of Unusually High Options Trading (NYSE:TDOC)

Teladoc Health, Inc. (NYSE:TDOC) saw some unusual options trading on Wednesday. Investors purchased 20,867 call options on the stock. This is an increase of 50% compared to the average volume of 13,918 call options.

Insider Activity at Teladoc Health

In related news, insider Carlos Nueno sold 2,389 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $11.93, for a total transaction of $28,500.77. Following the transaction, the insider now directly owns 2,890 shares of the company’s stock, valued at $34,477.70. This represents a 45.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.95% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Teladoc Health

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Point72 Asset Management L.P. lifted its position in shares of Teladoc Health by 57.8% in the third quarter. Point72 Asset Management L.P. now owns 8,366,295 shares of the health services provider’s stock valued at $76,803,000 after acquiring an additional 3,063,172 shares in the last quarter. Clearline Capital LP lifted its position in shares of Teladoc Health by 395.6% in the second 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 in the last quarter. Geode Capital Management LLC lifted its position in shares of Teladoc Health by 1.5% in the third quarter. Geode Capital Management LLC now owns 3,925,167 shares of the health services provider’s stock valued at $36,042,000 after acquiring an additional 56,864 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Teladoc Health in the third quarter valued at approximately $15,801,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Teladoc Health by 15.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,701,161 shares of the health services provider’s stock valued at $15,617,000 after acquiring an additional 228,004 shares in the last quarter. Hedge funds and other institutional investors own 76.82% of the company’s stock.

Wall Street Analysts Forecast Growth

TDOC has been the topic of a number of research reports. Piper Sandler reissued an “overweight” rating and issued a $13.00 price objective (up from $11.00) on shares of Teladoc Health in a report on Wednesday, December 4th. TD Cowen cut their price objective on Teladoc Health from $9.00 to $8.00 and set a “hold” rating on the stock in a report on Thursday, October 31st. Royal Bank of Canada increased their price objective on Teladoc Health from $9.00 to $10.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. Barclays increased their price objective on Teladoc Health from $10.00 to $12.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Teladoc Health from $10.00 to $12.00 and gave the company a “hold” rating in a report on Friday, November 1st. Fourteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $12.24.

Teladoc Health Stock Performance

Shares of TDOC stock opened at $10.12 on Friday. The company has a market capitalization of $1.74 billion, a P/E ratio of -1.75 and a beta of 1.01. The business’s 50 day moving average is $9.99 and its two-hundred day moving average is $9.04. The company has a current ratio of 1.73, a quick ratio of 1.69 and a debt-to-equity ratio of 0.66. Teladoc Health has a 12-month low of $6.76 and a 12-month high of $21.74.

Teladoc Health (NYSE:TDOC) last issued its quarterly earnings results on Wednesday, October 30th. The health services provider reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.10. The company had revenue of $640.51 million for the quarter, compared to the consensus estimate of $630.50 million. Teladoc Health had a negative return on equity of 10.06% and a negative net margin of 37.91%. Analysts expect that Teladoc Health will post -1.16 EPS for the current fiscal year.

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.