Teladoc Health (NYSE:TDOC) Shares Gap Down on Disappointing Earnings

Teladoc Health, Inc. (NYSE:TDOC) gapped down prior to trading on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $10.99, but opened at $9.90. Teladoc Health shares last traded at $9.38, with a volume of 6,928,751 shares changing hands.

The health services provider reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.07). The firm had revenue of $640.49 million during the quarter, compared to the consensus estimate of $639.44 million. Teladoc Health had a negative return on equity of 10.06% and a negative net margin of 37.91%.

Analyst Upgrades and Downgrades

TDOC has been the topic of several analyst reports. TD Cowen decreased their price target on Teladoc Health from $9.00 to $8.00 and set a “hold” rating on the stock in a research report on Thursday, October 31st. Bank of America upped their price target on Teladoc Health from $11.50 to $13.50 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. Barclays upped their price target on Teladoc Health from $10.00 to $12.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft upped their price target on Teladoc Health from $10.00 to $12.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Finally, The Goldman Sachs Group upped their price target on Teladoc Health from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $11.44.

Insider Buying and Selling at Teladoc Health

In other news, insider Carlos Nueno sold 2,389 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now owns 2,890 shares of the company’s stock, valued at approximately $34,477.70. This represents a 45.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.95% of the company’s stock.

Institutional Trading of Teladoc Health

A number of institutional investors have recently made changes to their positions in TDOC. Point72 Asset Management L.P. boosted its stake in shares of Teladoc Health by 57.8% during the third quarter. Point72 Asset Management L.P. now owns 8,366,295 shares of the health services provider’s stock valued at $76,803,000 after purchasing an additional 3,063,172 shares during the period. Maple Rock Capital Partners Inc. lifted its stake in Teladoc Health by 189.5% in the fourth quarter. Maple Rock Capital Partners Inc. now owns 3,561,000 shares of the health services provider’s stock worth $32,369,000 after acquiring an additional 2,331,000 shares during the period. Two Sigma Investments LP purchased a new stake in Teladoc Health in the fourth quarter worth $18,348,000. Two Sigma Advisers LP lifted its position in Teladoc Health by 213.0% during the fourth quarter. Two Sigma Advisers LP now owns 2,258,711 shares of the health services provider’s stock valued at $20,532,000 after buying an additional 1,537,094 shares during the period. Finally, Vanguard Group Inc. lifted its position in Teladoc Health by 5.9% during the fourth quarter. Vanguard Group Inc. now owns 18,463,155 shares of the health services provider’s stock valued at $167,830,000 after buying an additional 1,029,829 shares during the period. Hedge funds and other institutional investors own 76.82% of the company’s stock.

Teladoc Health Price Performance

The company has a debt-to-equity ratio of 0.66, a current ratio of 1.73 and a quick ratio of 1.69. The firm has a market cap of $1.60 billion, a PE ratio of -1.62 and a beta of 1.04. The firm has a 50-day simple moving average of $10.61 and a 200 day simple moving average of $9.53.

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.