Teladoc Health (NYSE:TDOC) Issues Q2 2024 Earnings Guidance

Teladoc Health (NYSE:TDOC) updated its second quarter 2024 earnings guidance on Thursday. The company provided EPS guidance of -0.450–0.350 for the period, compared to the consensus EPS estimate of -0.300. The company issued revenue guidance of $635.0 million-$660.0 million, compared to the consensus revenue estimate of $662.6 million. Teladoc Health also updated its FY24 guidance to ($1.10)-($0.80) EPS.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TDOC. Canaccord Genuity Group reduced their price objective on Teladoc Health from $28.00 to $25.00 and set a buy rating for the company in a research note on Friday. DA Davidson reduced their price objective on Teladoc Health from $22.00 to $18.00 and set a neutral rating for the company in a research note on Wednesday, February 21st. Evercore ISI reduced their price objective on Teladoc Health from $15.00 to $14.00 and set an in-line rating for the company in a research note on Friday. Oppenheimer cut their price target on Teladoc Health from $26.00 to $21.00 and set an outperform rating for the company in a research note on Friday. Finally, Needham & Company LLC reissued a hold rating on shares of Teladoc Health in a research note on Friday. Eleven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of $19.67.

Teladoc Health Stock Down 2.4 %

NYSE:TDOC traded down $0.32 during mid-day trading on Friday, hitting $13.01. The stock had a trading volume of 7,696,741 shares, compared to its average volume of 4,813,149. The stock has a 50-day simple moving average of $14.85 and a two-hundred day simple moving average of $17.72. Teladoc Health has a twelve month low of $12.65 and a twelve month high of $30.41. The company has a quick ratio of 3.47, a current ratio of 3.54 and a debt-to-equity ratio of 0.66.

Teladoc Health (NYSE:TDOC) last announced its earnings results on Thursday, April 25th. The health services provider reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.02). Teladoc Health had a negative return on equity of 10.11% and a negative net margin of 8.90%. The business had revenue of $646.13 million for the quarter, compared to analysts’ expectations of $637.31 million. During the same quarter last year, the business posted ($0.37) earnings per share. The business’s revenue was up 2.7% on a year-over-year basis. As a group, analysts expect that Teladoc Health will post -1.06 EPS for the current fiscal year.

Insiders Place Their Bets

In other Teladoc Health news, COO Michael Willem Waters sold 4,523 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $19.18, for a total transaction of $86,751.14. Following the sale, the chief operating officer now directly owns 38,570 shares in the company, valued at approximately $739,772.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Laizer Kornwasser sold 7,882 shares of the stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $19.18, for a total transaction of $151,176.76. Following the completion of the sale, the insider now owns 57,223 shares of the company’s stock, valued at approximately $1,097,537.14. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Michael Willem Waters sold 4,523 shares of the stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $19.18, for a total transaction of $86,751.14. Following the completion of the sale, the chief operating officer now directly owns 38,570 shares of the company’s stock, valued at approximately $739,772.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 135,441 shares of company stock worth $2,038,251. Corporate insiders own 1.63% of the company’s stock.

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.