Teladoc Health (NYSE:TDOC – Get Rating) had its target price reduced by Royal Bank of Canada from $53.00 to $35.00 in a research note published on Wednesday morning, The Fly reports.
TDOC has been the subject of several other reports. Oppenheimer decreased their target price on Teladoc Health from $65.00 to $55.00 and set an outperform rating for the company in a research report on Thursday, July 28th. Cowen lowered Teladoc Health from an outperform rating to a market perform rating and decreased their target price for the stock from $58.00 to $34.00 in a research report on Tuesday, August 2nd. Truist Financial began coverage on Teladoc Health in a research report on Wednesday, September 7th. They issued a hold rating and a $35.00 price objective for the company. Guggenheim lowered Teladoc Health from a neutral rating to a sell rating and set a $25.00 price objective for the company. in a research report on Wednesday, August 17th. Finally, Piper Sandler decreased their price objective on Teladoc Health from $42.00 to $40.00 and set an overweight rating for the company in a research report on Thursday, July 28th. Two equities research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $64.13.
Get Teladoc Health alerts:Teladoc Health Price Performance
Shares of TDOC stock opened at $25.35 on Wednesday. The stock has a 50-day moving average price of $33.43 and a 200 day moving average price of $41.33. The company has a quick ratio of 3.22, a current ratio of 3.38 and a debt-to-equity ratio of 0.25. The firm has a market cap of $4.09 billion, a price-to-earnings ratio of -0.41 and a beta of 0.86. Teladoc Health has a 12 month low of $25.33 and a 12 month high of $156.82.
Teladoc Health (NYSE:TDOC – Get Rating) last posted its earnings results on Wednesday, July 27th. The health services provider reported ($0.44) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.71) by $0.27. The company had revenue of $592.38 million during the quarter, compared to analyst estimates of $586.86 million. Teladoc Health had a negative return on equity of 2.04% and a negative net margin of 441.94%. Research analysts expect that Teladoc Health will post -1.54 EPS for the current year.Insider Buying and Selling
In related news, SVP Daniel Trencher sold 1,000 shares of the business's stock in a transaction that occurred on Monday, July 18th. The stock was sold at an average price of $41.12, for a total transaction of $41,120.00. Following the transaction, the senior vice president now directly owns 27,408 shares of the company's stock, valued at approximately $1,127,016.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Teladoc Health news, insider Arnnon Geshuri sold 4,098 shares of the company's stock in a transaction on Friday, August 26th. The stock was sold at an average price of $34.27, for a total value of $140,438.46. Following the transaction, the insider now directly owns 76,182 shares of the company's stock, valued at approximately $2,610,757.14. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Daniel Trencher sold 1,000 shares of the company's stock in a transaction on Monday, July 18th. The shares were sold at an average price of $41.12, for a total value of $41,120.00. Following the completion of the transaction, the senior vice president now directly owns 27,408 shares in the company, valued at $1,127,016.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,318 shares of company stock valued at $255,321. 1.55% of the stock is owned by insiders.
Institutional Trading of Teladoc Health
Several large investors have recently modified their holdings of the stock. ARK Investment Management LLC grew its holdings in shares of Teladoc Health by 2.9% during the 1st quarter. ARK Investment Management LLC now owns 19,466,931 shares of the health services provider's stock worth $1,404,150,000 after purchasing an additional 544,733 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Teladoc Health by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 13,238,243 shares of the health services provider's stock worth $954,875,000 after purchasing an additional 98,181 shares in the last quarter. Kinnevik AB publ acquired a new stake in shares of Teladoc Health during the 4th quarter worth $458,235,000. Renaissance Technologies LLC grew its holdings in shares of Teladoc Health by 879.2% during the 2nd quarter. Renaissance Technologies LLC now owns 4,475,319 shares of the health services provider's stock worth $148,625,000 after purchasing an additional 4,018,300 shares in the last quarter. Finally, State of Michigan Retirement System acquired a new stake in shares of Teladoc Health during the 2nd quarter worth $123,089,000. 92.46% of the stock is owned by institutional investors and hedge funds.
Teladoc Health Company Profile
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Teladoc Health, Inc provides virtual healthcare services in the United States and internationally. The company offers a portfolio of services and solutions covering non-urgent, episodic, chronic, and complicated medical conditions, including diabetes, hypertension, chronic kidney disease, cancer, congestive heart failure, and mental health conditions.
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