Piper Sandler Issues Pessimistic Forecast for Teladoc Health (NYSE:TDOC) Stock Price

Teladoc Health (NYSE:TDOC) had its price objective cut by Piper Sandler from $13.00 to $12.00 in a research report released on Thursday morning,Benzinga reports. They currently have an overweight rating on the health services provider’s stock.

TDOC has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Teladoc Health from $10.00 to $12.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Bank of America upped their price target on shares of Teladoc Health from $11.50 to $13.50 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Royal Bank of Canada raised their price objective on Teladoc Health from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Friday, January 24th. The Goldman Sachs Group upped their target price on Teladoc Health from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Finally, Barclays lifted their price target on Teladoc Health from $10.00 to $12.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Eleven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Teladoc Health has an average rating of “Hold” and a consensus price target of $11.44.

Teladoc Health Trading Down 14.2 %

Shares of TDOC opened at $9.43 on Thursday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.69 and a current ratio of 1.73. Teladoc Health has a 52-week low of $6.76 and a 52-week high of $15.95. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of -1.64 and a beta of 1.04. The business’s fifty day moving average is $10.62 and its 200-day moving average is $9.53.

Teladoc Health (NYSE:TDOC) last released its earnings results on Wednesday, February 26th. The health services provider reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.07). The business had revenue of $640.49 million during the quarter, compared to the consensus estimate of $639.44 million. Teladoc Health had a negative net margin of 37.91% and a negative return on equity of 10.06%. Equities analysts anticipate that Teladoc Health will post -1.16 EPS for the current fiscal year.

Insider Activity at Teladoc Health

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

Institutional Investors Weigh In On Teladoc Health

Several institutional investors and hedge funds have recently made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. lifted its stake in 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 buying an additional 228,004 shares during the period. Jennison Associates LLC acquired a new position in shares of Teladoc Health during the 3rd quarter valued at $1,544,000. Massachusetts Financial Services Co. MA boosted its stake in Teladoc Health by 477.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 370,093 shares of the health services provider’s stock worth $3,397,000 after acquiring an additional 305,961 shares in the last quarter. Geode Capital Management LLC boosted its stake in Teladoc Health by 1.5% during the third quarter. Geode Capital Management LLC now owns 3,925,167 shares of the health services provider’s stock worth $36,042,000 after acquiring an additional 56,864 shares in the last quarter. Finally, Maple Rock Capital Partners Inc. acquired a new stake in Teladoc Health in the third quarter worth $11,291,000. Institutional investors 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.