Teladoc Health (NYSE:TDOC) Shares Gap Up – Here’s Why

Teladoc Health, Inc. (NYSE:TDOC)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $10.62, but opened at $11.14. Teladoc Health shares last traded at $11.34, with a volume of 305,390 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on TDOC shares. The Goldman Sachs Group began coverage on Teladoc Health in a research report on Friday, November 15th. They set a “buy” rating and a $14.00 price target on the stock. Barclays upped their price target on shares of Teladoc Health from $10.00 to $12.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Piper Sandler lowered their price objective on shares of Teladoc Health from $25.00 to $10.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. DA Davidson dropped their target price on shares of Teladoc Health from $12.00 to $8.00 and set a “neutral” rating for the company in a research note on Thursday, August 1st. Finally, 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. Fourteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Teladoc Health has a consensus rating of “Hold” and a consensus target price of $12.08.

Teladoc Health Trading Down 5.4 %

The company has a 50 day simple moving average of $9.18 and a 200 day simple moving average of $9.25. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.73 and a quick ratio of 1.69.

Teladoc Health (NYSE:TDOC) last posted its quarterly earnings results on Wednesday, October 30th. The health services provider reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.10. The firm had revenue of $640.51 million for the quarter, compared to analyst estimates of $630.50 million. Teladoc Health had a negative net margin of 37.91% and a negative return on equity of 10.06%. As a group, equities analysts expect that Teladoc Health, Inc. will post -1.16 EPS for the current year.

Insider Activity at Teladoc Health

In other news, Director Thomas Mckinley acquired 4,000 shares of Teladoc Health stock in a transaction on Thursday, September 12th. The shares were purchased at an average cost of $7.69 per share, for a total transaction of $30,760.00. Following the completion of the purchase, the director now directly owns 39,077 shares of the company’s stock, valued at approximately $300,502.13. This represents a 11.40 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Michael Willem Waters sold 4,218 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $7.16, for a total transaction of $30,200.88. Following the sale, the chief operating officer now owns 78,309 shares in the company, valued at $560,692.44. This represents a 5.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,051 shares of company stock worth $143,565 in the last ninety days. 0.95% of the stock is owned by company insiders.

Hedge Funds Weigh In On Teladoc Health

Large investors have recently bought and sold shares of the company. Signaturefd LLC lifted its holdings in Teladoc Health by 148.7% during the 2nd quarter. Signaturefd LLC now owns 2,868 shares of the health services provider’s stock worth $28,000 after buying an additional 1,715 shares during the period. International Assets Investment Management LLC acquired a new position in shares of Teladoc Health in the second quarter worth approximately $29,000. Blue Trust Inc. boosted its holdings in Teladoc Health by 84.5% in the third quarter. Blue Trust Inc. now owns 4,048 shares of the health services provider’s stock valued at $40,000 after acquiring an additional 1,854 shares during the last quarter. Doheny Asset Management CA acquired a new stake in Teladoc Health during the 2nd quarter valued at approximately $46,000. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in Teladoc Health by 209.8% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 5,015 shares of the health services provider’s stock worth $49,000 after purchasing an additional 3,396 shares during the last quarter. 76.82% of the stock is currently owned by institutional investors.

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.