Teladoc Health (NYSE:TDOC) Stock Price Up 9% – What’s Next?

Teladoc Health, Inc. (NYSE:TDOC) rose 9% during mid-day trading on Friday . The company traded as high as $14.39 and last traded at $14.73. Approximately 6,387,505 shares traded hands during trading, an increase of 7% from the average daily volume of 5,963,633 shares. The stock had previously closed at $13.51.

Analyst Upgrades and Downgrades

Several research firms recently commented on TDOC. Royal Bank of Canada boosted their price objective on shares of Teladoc Health from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Friday, January 24th. The Goldman Sachs Group initiated coverage on Teladoc Health in a research report on Friday, November 15th. They set a “buy” rating and a $14.00 price objective for the company. Piper Sandler reissued an “overweight” rating and issued a $13.00 target price (up from $11.00) on shares of Teladoc Health in a report on Wednesday, December 4th. TD Cowen reduced their price target on Teladoc Health from $9.00 to $8.00 and set a “hold” rating for the company in a report on Thursday, October 31st. Finally, Oppenheimer dropped their price target on shares of Teladoc Health from $14.00 to $12.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Fourteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $12.08.

Teladoc Health Stock Performance

The business has a 50-day moving average of $10.22 and a 200 day moving average of $9.25. The company has a market cap of $2.49 billion, a PE ratio of -2.50 and a beta of 1.05. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.73 and a quick ratio of 1.69.

Insider Buying and Selling

In other news, insider Carlos Nueno sold 2,389 shares of Teladoc Health stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $11.93, for a total transaction of $28,500.77. Following the transaction, the insider now owns 2,890 shares in the company, valued at $34,477.70. This trade represents a 45.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.95% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Teladoc Health

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of Teladoc Health by 5.9% in the fourth quarter. Vanguard Group Inc. now owns 18,463,155 shares of the health services provider’s stock worth $167,830,000 after buying an additional 1,029,829 shares during the period. Point72 Asset Management L.P. raised its stake in Teladoc Health by 57.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 8,366,295 shares of the health services provider’s stock worth $76,803,000 after acquiring an additional 3,063,172 shares during the period. Renaissance Technologies LLC lifted its holdings in Teladoc Health by 15.5% during the fourth quarter. Renaissance Technologies LLC now owns 5,674,542 shares of the health services provider’s stock valued at $51,582,000 after purchasing an additional 763,265 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Teladoc Health by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 3,947,831 shares of the health services provider’s stock valued at $35,894,000 after purchasing an additional 22,664 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Teladoc Health by 0.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,531,492 shares of the health services provider’s stock valued at $32,104,000 after buying an additional 8,890 shares in the last quarter. 76.82% of the stock is 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.