Teladoc Health (NYSE:TDOC) Price Target Raised to $8.00

Teladoc Health (NYSE:TDOC) had its price objective boosted by equities research analysts at TD Cowen from $6.00 to $8.00 in a report issued on Monday, Benzinga reports. The brokerage presently has a “hold” rating on the health services provider’s stock. TD Cowen‘s price objective would indicate a potential downside of 11.06% from the stock’s current price.

Several other equities analysts also recently commented on the company. JPMorgan Chase & Co. raised their target price on Teladoc Health from $8.00 to $10.00 and gave the stock a “neutral” rating in a research report on Friday, October 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Teladoc Health in a research note on Wednesday, August 19th. Truist Financial lowered 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 Friday, August 14th. Citigroup dropped their price objective on Teladoc Health from $11.00 to $7.50 and set a “neutral” rating for the company in a research note on Monday, August 3rd. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Teladoc Health from $10.00 to $11.00 and gave the company a “buy” rating in a report on Friday, October 30th. Five investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $8.53.

Teladoc Health Trading Up 2.6%

NYSE:TDOC traded up $0.23 during mid-day trading on Monday, hitting $8.99. The company’s stock had a trading volume of 909,673 shares, compared to its average volume of 5,138,565. Teladoc Health has a fifty-two week low of $4.40 and a fifty-two week high of $9.89. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of -10.44 and a beta of 2.00. The stock has a fifty day moving average of $6.51 and a 200-day moving average of $6.54.

Teladoc Health (NYSE:TDOC) last released its quarterly earnings data on Wednesday, October 28th. The health services provider reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.07. The company had revenue of $605.10 million for the quarter, compared to the consensus estimate of $588.14 million. Teladoc Health had a negative return on equity of 11.63% and a negative net margin of 6.27%. The company’s quarterly revenue was down 3.4% on a year-over-year basis. During the same period in the previous year, the business earned ($0.28) earnings per share. On average, equities analysts anticipate that Teladoc Health will post -0.86 earnings per share for the current fiscal year.

Insider Buying and Selling at Teladoc Health

In other news, CEO Charles III sold 17,805 shares of Teladoc Health stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $6.10, for a total value of $108,610.50. Following the completion of the transaction, the chief executive officer owned 465,535 shares in the company, valued at approximately $2,839,763.50. The trade was a 3.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Teladoc Health

Hedge funds and other institutional investors have recently bought and sold shares of the business. Allworth Financial LP raised its position in Teladoc Health by 78.9% in the 3rd quarter. Allworth Financial LP now owns 5,255 shares of the health services provider’s stock valued at $30,000 after purchasing an additional 2,317 shares during the last quarter. AlphaCore Capital LLC acquired a new position in Teladoc Health in the third quarter worth $92,000. Fulcrum Asset Management LLP acquired a new position in Teladoc Health in the third quarter worth $117,000. Formidable Asset Management LLC grew its holdings in shares of Teladoc Health by 6.2% during the third quarter. Formidable Asset Management LLC now owns 27,935 shares of the health services provider’s stock worth $162,000 after purchasing an additional 1,625 shares during the last quarter. Finally, Platform Technology Partners bought a new stake in shares of Teladoc Health during the third quarter worth $91,000. 76.82% of the stock is owned by institutional investors and hedge funds.

Teladoc Health Company Profile

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.