Teladoc Health (NYSE:TDOC) Stock Price Expected to Rise, Oppenheimer Analyst Says

Teladoc Health (NYSE:TDOC) had its price target upped by analysts at Oppenheimer from $7.00 to $10.00 in a report released on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the health services provider’s stock. Oppenheimer‘s target price would suggest a potential upside of 15.67% from the company’s previous close.

A number of other equities analysts have also recently issued reports on TDOC. Stifel Nicolaus raised their price objective on shares of Teladoc Health from $5.50 to $6.50 and gave the company a “hold” rating in a research note on Thursday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Teladoc Health in a research note on Wednesday, August 19th. Citigroup reduced their price target on Teladoc Health from $11.00 to $7.50 and set a “neutral” rating on the stock in a research report on Monday, August 3rd. Canaccord Genuity Group dropped their price objective on Teladoc Health from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Finally, Needham & Company LLC restated a “hold” rating on shares of Teladoc Health in a research report on Thursday. Five analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $8.00.

Teladoc Health Price Performance

TDOC traded up $0.14 on Monday, hitting $8.64. The company had a trading volume of 2,015,808 shares, compared to its average volume of 5,096,639. Teladoc Health has a 1-year low of $4.40 and a 1-year high of $9.89. The company’s fifty day moving average price is $6.23 and its 200 day moving average price is $6.47. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of -10.04 and a beta of 2.00.

Teladoc Health (NYSE:TDOC) last posted its quarterly earnings results on Wednesday, October 28th. The health services provider reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.07. The company had revenue of $605.10 million for the quarter, compared to analyst estimates of $588.14 million. Teladoc Health had a negative net margin of 6.27% and a negative return on equity of 11.63%. The business’s quarterly revenue was down 3.4% on a year-over-year basis. During the same period last year, the business posted ($0.28) EPS. On average, sell-side analysts forecast that Teladoc Health will post -0.89 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Charles III sold 17,805 shares of the stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $6.10, for a total transaction of $108,610.50. Following the completion of the transaction, the chief executive officer directly owned 465,535 shares of the company’s stock, valued at $2,839,763.50. This represents a 3.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.70% of the stock is currently owned by insiders.

Institutional Trading of Teladoc Health

Several hedge funds and other institutional investors have recently modified their holdings of the business. Allworth Financial LP bought a new position in Teladoc Health in the 2nd quarter worth about $25,000. Twin Lakes Capital Management LLC purchased a new stake in Teladoc Health during the second quarter valued at about $26,000. Nykredit A S purchased a new stake in Teladoc Health during the second quarter valued at about $27,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Teladoc Health by 694.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 5,657 shares of the health services provider’s stock worth $31,000 after purchasing an additional 4,945 shares in the last quarter. Finally, EFG International AG purchased a new position in shares of Teladoc Health in the 2nd quarter worth about $35,000. Institutional investors own 76.82% of the company’s stock.

About Teladoc Health

Teladoc Health, Inc provides virtual healthcare services and technology designed to connect patients with medical professionals remotely. Through its digital platforms, the company supports a range of healthcare needs, including general medical consultations, mental health services, specialty care, and ongoing management of chronic conditions.

Its offerings include telehealth visits with physicians and other licensed providers, behavioral health services through BetterHelp, and chronic care programs that use digital tools and clinical support to help people manage conditions such as diabetes and hypertension.