Teladoc Health (NYSE:TDOC) Price Target Raised to $12.00

Teladoc Health (NYSE:TDOC) had its price objective lifted by Royal Bank of Canada from $11.00 to $12.00 in a research report released on Friday,Benzinga reports. They currently have an outperform rating on the health services provider’s stock.

Several other brokerages have also recently commented on TDOC. Piper Sandler reissued an “overweight” rating and set a $13.00 price target (up from $11.00) on shares of Teladoc Health in a research report on Wednesday, December 4th. 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. Evercore ISI upped their price target on shares of Teladoc Health from $8.00 to $9.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 8th. The Goldman Sachs Group began coverage on shares of Teladoc Health in a research note on Friday, November 15th. They set a “buy” rating and a $14.00 price objective on the stock. Finally, Barclays lifted their price target on Teladoc Health from $10.00 to $12.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Fourteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $12.08.

Teladoc Health Stock Down 0.8 %

Teladoc Health stock opened at $10.06 on Friday. Teladoc Health has a twelve month low of $6.76 and a twelve month high of $21.74. The company has a quick ratio of 1.69, a current ratio of 1.73 and a debt-to-equity ratio of 0.66. The company has a 50 day moving average of $10.01 and a 200-day moving average of $9.04. The stock has a market capitalization of $1.73 billion, a PE ratio of -1.74 and a beta of 1.01.

Teladoc Health (NYSE:TDOC) last posted its quarterly earnings data 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. 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 during the quarter, compared to the consensus estimate of $630.50 million. On average, equities research analysts anticipate that Teladoc Health will post -1.16 EPS for the current fiscal year.

Insider Activity

In other Teladoc Health news, insider Carlos Nueno sold 2,389 shares of the company’s stock in a transaction on 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 owns 2,890 shares in the company, valued at $34,477.70. This represents a 45.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.95% of the company’s stock.

Institutional Investors Weigh In On Teladoc Health

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. boosted its holdings 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 worth $76,803,000 after acquiring an additional 3,063,172 shares during the period. Clearline Capital LP grew its stake in Teladoc Health by 395.6% during 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 increased its holdings in Teladoc Health by 1.5% during the 3rd 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 during the period. Assenagon Asset Management S.A. bought a new position in Teladoc Health in the 3rd quarter valued at $15,801,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings 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 worth $15,617,000 after purchasing an additional 228,004 shares during the period. 76.82% of the stock is currently owned by institutional investors.

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.