Teladoc Health (NYSE:TDOC) Shares Gap Up – Here’s Why

Teladoc Health, Inc. (NYSE:TDOC) shares gapped up prior to trading on Thursday . The stock had previously closed at $9.09, but opened at $9.40. Teladoc Health shares last traded at $9.69, with a volume of 577,934 shares changing hands.

Analyst Ratings Changes

Several equities analysts have issued reports on TDOC shares. Piper Sandler reiterated an “overweight” rating and set a $13.00 target price (up previously from $11.00) on shares of Teladoc Health in a research 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 for the company in a research report on Thursday, October 31st. Royal Bank of Canada raised their target price on Teladoc Health from $9.00 to $10.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Teladoc Health from $10.00 to $12.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Finally, Barclays raised their price objective on shares of Teladoc Health from $10.00 to $12.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Fourteen equities 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.com, Teladoc Health presently has a consensus rating of “Hold” and an average price target of $12.24.

Teladoc Health Stock Performance

The company has a market capitalization of $1.64 billion, a PE ratio of -1.65 and a beta of 0.97. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.69 and a current ratio of 1.73. The stock’s fifty day simple moving average is $9.89 and its 200-day simple moving average is $9.05.

Teladoc Health (NYSE:TDOC) last announced its 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 firm had revenue of $640.51 million for the quarter, compared to analyst estimates of $630.50 million. Teladoc Health had a negative net margin of 37.91% and a negative return on equity of 10.06%. As a group, equities analysts predict that Teladoc Health, Inc. will post -1.16 earnings per share for the current year.

Insider Activity

In other Teladoc Health news, insider Carlos Nueno sold 2,389 shares of the business’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 completion of the sale, the insider now owns 2,890 shares of the company’s stock, valued at approximately $34,477.70. The trade was a 45.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.95% of the company’s stock.

Hedge Funds Weigh In On Teladoc Health

Hedge funds and other institutional investors have recently modified their holdings of the company. Signaturefd LLC raised its holdings in Teladoc Health by 148.7% in the second quarter. Signaturefd LLC now owns 2,868 shares of the health services provider’s stock valued at $28,000 after buying an additional 1,715 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of Teladoc Health in the second quarter worth $29,000. Versant Capital Management Inc lifted its holdings in shares of Teladoc Health by 313.8% during the 4th quarter. Versant Capital Management Inc now owns 3,219 shares of the health services provider’s stock valued at $29,000 after acquiring an additional 2,441 shares in the last quarter. Blue Trust Inc. boosted its position in Teladoc Health by 84.5% during the 3rd 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. Finally, Doheny Asset Management CA acquired a new stake in Teladoc Health in the 2nd quarter valued at $46,000. 76.82% of the stock is owned by institutional investors and hedge funds.

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.