Teladoc Health (NYSE:TDOC) Trading Down 3.4% – Here’s What Happened

Teladoc Health, Inc. (NYSE:TDOC)’s stock price dropped 3.4% during trading on Friday . The stock traded as low as $9.18 and last traded at $9.20. Approximately 890,929 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 1,878,147 shares. The stock had previously closed at $9.52.

Analysts Set New Price Targets

TDOC has been the topic of a number of research analyst reports. Piper Sandler restated an “overweight” rating and issued a $13.00 target price (up previously from $11.00) on shares of Teladoc Health in a research note on Wednesday, December 4th. Royal Bank of Canada upped their price objective on Teladoc Health from $9.00 to $10.00 and gave the company an “outperform” rating in a research note on Wednesday, October 9th. TD Cowen lowered their target price on Teladoc Health from $9.00 to $8.00 and set a “hold” rating on the stock in a research note on Thursday, October 31st. Jefferies Financial Group increased their price target on shares of Teladoc Health from $8.00 to $10.00 and gave the company a “hold” rating in a research report on Tuesday, September 17th. Finally, Deutsche Bank Aktiengesellschaft lifted 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. Fourteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $12.24.

Teladoc Health Stock Performance

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 has a market capitalization of $1.64 billion, a P/E ratio of -1.65 and a beta of 0.97. The business has a 50-day moving average price of $9.89 and a 200 day moving average price of $9.04.

Teladoc Health (NYSE:TDOC) last released its earnings results on Wednesday, October 30th. The health services provider reported ($0.19) EPS for the quarter, topping 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 business had revenue of $640.51 million for the quarter, compared to the consensus estimate of $630.50 million. As a group, sell-side analysts forecast that Teladoc Health, Inc. will post -1.16 EPS for the current fiscal year.

Insider Activity at Teladoc Health

In other Teladoc Health news, insider Carlos Nueno sold 2,389 shares of the 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 directly owns 2,890 shares in the company, valued at approximately $34,477.70. This trade represents a 45.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.95% of the stock is currently owned by insiders.

Institutional Trading of Teladoc Health

A number of hedge funds have recently bought and sold shares of TDOC. Blue Trust Inc. raised its stake in shares of 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 buying an additional 1,854 shares during the period. Arizona State Retirement System raised its stake in Teladoc Health by 4.2% during the 2nd quarter. Arizona State Retirement System now owns 47,400 shares of the health services provider’s stock worth $464,000 after acquiring an additional 1,901 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Teladoc Health by 3.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 64,132 shares of the health services provider’s stock worth $627,000 after acquiring an additional 2,153 shares during the period. Versant Capital Management Inc lifted its holdings in Teladoc Health by 313.8% during the fourth quarter. Versant Capital Management Inc now owns 3,219 shares of the health services provider’s stock valued at $29,000 after purchasing an additional 2,441 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new position in shares of Teladoc Health in the second quarter worth approximately $29,000. Hedge funds and other 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.