Teladoc Health (NYSE:TDOC) Trading Down 5.4% – What’s Next?

Teladoc Health, Inc. (NYSE:TDOC) shares were down 5.4% on Tuesday . The stock traded as low as $10.05 and last traded at $10.10. Approximately 1,691,144 shares traded hands during trading, a decline of 69% from the average daily volume of 5,515,436 shares. The stock had previously closed at $10.68.

Analyst Ratings Changes

TDOC has been the topic of several research analyst reports. TD Cowen lowered their price objective on Teladoc Health from $9.00 to $8.00 and set a “hold” rating on the stock in a report on Thursday, October 31st. Royal Bank of Canada boosted their price target on Teladoc Health from $9.00 to $10.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. Barclays raised their price objective on Teladoc Health from $10.00 to $12.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Piper Sandler reiterated an “overweight” rating and issued a $13.00 target price (up from $11.00) on shares of Teladoc Health in a research report on Wednesday, December 4th. Finally, The Goldman Sachs Group initiated coverage on shares of Teladoc Health in a research note on Friday, November 15th. They issued a “buy” rating and a $14.00 price target on the stock. Fourteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Teladoc Health currently has a consensus rating of “Hold” and a consensus target price of $12.24.

Teladoc Health Stock Down 5.2 %

The business has a 50 day simple moving average of $9.86 and a 200 day simple moving average of $9.14. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of -1.55 and a beta of 0.97. 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 released its earnings results on Wednesday, October 30th. The health services provider reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.10. The company had revenue of $640.51 million during the quarter, compared to the consensus estimate of $630.50 million. Teladoc Health had a negative return on equity of 10.06% and a negative net margin of 37.91%. As a group, equities analysts predict that Teladoc Health, Inc. will post -1.16 earnings per share for the current fiscal year.

Insider Buying and Selling at Teladoc Health

In related news, insider Carlos Nueno sold 2,389 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $11.93, for a total value of $28,500.77. Following the sale, the insider now owns 2,890 shares of the company’s stock, valued at $34,477.70. This trade represents a 45.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.95% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Teladoc Health

A number of large investors have recently modified their holdings of the company. TCW Group Inc. purchased a new position in Teladoc Health in the third quarter valued at $2,464,000. Geode Capital Management LLC raised its position in shares of Teladoc Health by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 3,925,167 shares of the health services provider’s stock worth $36,042,000 after acquiring an additional 56,864 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Teladoc Health during the 3rd quarter worth about $152,000. Quantinno Capital Management LP lifted its stake in Teladoc Health by 190.4% during the third quarter. Quantinno Capital Management LP now owns 186,143 shares of the health services provider’s stock worth $1,709,000 after purchasing an additional 122,050 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its stake in Teladoc Health by 57.8% in 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 last quarter. 76.82% of the stock is owned by hedge funds and other institutional investors.

About Teladoc Health

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.