Teladoc Health (NYSE:TDOC) Shares Up 6.6% – Here’s Why

Teladoc Health, Inc. (NYSE:TDOC) shares were up 6.6% during trading on Wednesday . The company traded as high as $9.94 and last traded at $10.13. Approximately 696,211 shares were traded during trading, a decline of 82% from the average daily volume of 3,849,119 shares. The stock had previously closed at $9.50.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. TD Cowen decreased their price target on Teladoc Health from $9.00 to $8.00 and set a “hold” rating for the company in a research note on Thursday, October 31st. Barclays boosted their target price on shares of Teladoc Health from $10.00 to $12.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Evercore ISI raised their price target on shares of Teladoc Health from $8.00 to $9.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Teladoc Health from $10.00 to $12.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Finally, The Goldman Sachs Group began coverage on shares of Teladoc Health in a research note on Friday, November 15th. They set a “buy” rating and a $14.00 price target for the company. 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 presently has a consensus rating of “Hold” and a consensus price target of $12.24.

Teladoc Health Price Performance

The stock has a 50-day moving average price of $9.96 and a two-hundred day moving average price of $9.02. The company has a current ratio of 1.73, a quick ratio of 1.69 and a debt-to-equity ratio of 0.66. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of -1.72 and a beta of 1.01.

Teladoc Health (NYSE:TDOC) last issued its quarterly earnings results on Wednesday, October 30th. The health services provider reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.10. The business had revenue of $640.51 million for the quarter, compared to analyst estimates 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 research analysts forecast that Teladoc Health, Inc. will post -1.16 EPS for the current year.

Insider Transactions at Teladoc Health

In other Teladoc Health 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 transaction of $28,500.77. Following the completion of the transaction, the insider now directly owns 2,890 shares of the company’s stock, valued at approximately $34,477.70. This trade represents a 45.25 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.95% of the company’s stock.

Institutional Trading of Teladoc Health

Several hedge funds and other institutional investors have recently bought and sold shares of TDOC. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Teladoc Health by 15.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,701,161 shares of the health services provider’s stock worth $15,617,000 after purchasing an additional 228,004 shares during the period. Clearline Capital LP grew its position in shares of Teladoc Health by 395.6% during the 2nd quarter. Clearline Capital LP now owns 4,364,201 shares of the health services provider’s stock valued at $42,682,000 after acquiring an additional 3,483,665 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Teladoc Health by 195.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 95,307 shares of the health services provider’s stock valued at $932,000 after purchasing an additional 63,028 shares in the last quarter. Jennison Associates LLC acquired a new position in Teladoc Health in the 3rd quarter worth about $1,544,000. Finally, Massachusetts Financial Services Co. MA boosted its position in Teladoc Health by 477.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 370,093 shares of the health services provider’s stock worth $3,397,000 after purchasing an additional 305,961 shares in the last quarter. 76.82% of the stock is owned by institutional investors and hedge funds.

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.