JPMorgan Chase & Co. Trims Teladoc Health (NYSE:TDOC) Target Price to $9.00

Teladoc Health (NYSE:TDOC) had its target price decreased by JPMorgan Chase & Co. from $16.00 to $9.00 in a report published on Monday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the health services provider’s stock.

Other analysts have also issued research reports about the stock. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Teladoc Health from $15.00 to $10.00 and set a hold rating for the company in a report on Friday, August 2nd. Canaccord Genuity Group lowered their price target on shares of Teladoc Health from $25.00 to $17.00 and set a buy rating for the company in a report on Thursday, August 1st. Stifel Nicolaus reduced their price objective on shares of Teladoc Health from $16.00 to $9.00 and set a hold rating on the stock in a research note on Thursday, August 1st. TD Cowen reduced their price objective on shares of Teladoc Health from $15.00 to $9.00 and set a hold rating on the stock in a research note on Thursday, August 1st. Finally, DA Davidson reduced their price objective on shares of Teladoc Health from $12.00 to $8.00 and set a neutral rating on the stock in a research note on Thursday, August 1st. Fourteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Teladoc Health currently has an average rating of Hold and an average target price of $12.44.

Teladoc Health Stock Performance

NYSE TDOC opened at $6.85 on Monday. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of -4.86 and a beta of 0.93. The company has a 50 day moving average of $8.61 and a 200-day moving average of $12.02. The company has a current ratio of 1.66, a quick ratio of 1.62 and a debt-to-equity ratio of 0.66. Teladoc Health has a 1-year low of $6.76 and a 1-year high of $23.19.

Teladoc Health (NYSE:TDOC) last posted its quarterly earnings data on Wednesday, July 31st. The health services provider reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.36) by $0.08. The company had revenue of $642.44 million during the quarter, compared to analyst estimates of $649.34 million. Teladoc Health had a negative net margin of 38.54% and a negative return on equity of 10.25%. On average, equities analysts forecast that Teladoc Health will post -0.7 earnings per share for the current fiscal year.

Insider Transactions at Teladoc Health

In related news, insider Vidya Raman-Tangella sold 3,857 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $8.14, for a total value of $31,395.98. Following the transaction, the insider now owns 33,667 shares in the company, valued at approximately $274,049.38. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Teladoc Health news, COO Michael Willem Waters sold 6,053 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $8.14, for a total value of $49,271.42. Following the completion of the sale, the chief operating officer now owns 74,214 shares of the company’s stock, valued at approximately $604,101.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Vidya Raman-Tangella sold 3,857 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $8.14, for a total transaction of $31,395.98. Following the completion of the sale, the insider now directly owns 33,667 shares of the company’s stock, valued at approximately $274,049.38. The disclosure for this sale can be found here. Insiders have sold 42,880 shares of company stock worth $355,689 in the last ninety days. Insiders own 0.95% of the company’s stock.

Institutional Trading of Teladoc Health

A number of institutional investors have recently bought and sold shares of the business. Parallel Advisors LLC lifted its holdings in shares of Teladoc Health by 14.6% during the 4th quarter. Parallel Advisors LLC now owns 4,038 shares of the health services provider’s stock worth $87,000 after acquiring an additional 515 shares during the period. M&T Bank Corp lifted its holdings in shares of Teladoc Health by 5.5% during the 4th quarter. M&T Bank Corp now owns 11,152 shares of the health services provider’s stock worth $241,000 after acquiring an additional 584 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Teladoc Health by 20.3% during the 4th quarter. Van ECK Associates Corp now owns 3,589 shares of the health services provider’s stock worth $77,000 after acquiring an additional 606 shares during the period. Ignite Planners LLC lifted its holdings in shares of Teladoc Health by 6.9% during the 1st quarter. Ignite Planners LLC now owns 13,307 shares of the health services provider’s stock worth $198,000 after acquiring an additional 857 shares during the period. Finally, Hexagon Capital Partners LLC lifted its holdings in shares of Teladoc Health by 204.4% during the 4th quarter. Hexagon Capital Partners LLC now owns 1,586 shares of the health services provider’s stock worth $34,000 after acquiring an additional 1,065 shares during the period. Institutional investors own 76.82% of the company’s stock.

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.