DA Davidson Cuts Teladoc Health (NYSE:TDOC) Price Target to $8.00

Teladoc Health (NYSE:TDOC) had its price target decreased by investment analysts at DA Davidson from $12.00 to $8.00 in a report released on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the health services provider’s stock. DA Davidson’s target price suggests a potential downside of 8.88% from the company’s current price.

Other research analysts have also issued reports about the company. Stifel Nicolaus reduced their price target on Teladoc Health from $16.00 to $9.00 and set a “hold” rating on the stock in a research report on Thursday. Needham & Company LLC reiterated a “hold” rating on shares of Teladoc Health in a research report on Friday, April 26th. Royal Bank of Canada dropped their target price on shares of Teladoc Health from $25.00 to $18.00 and set an “outperform” rating on the stock in a report on Friday, April 26th. Oppenheimer dropped their price objective on shares of Teladoc Health from $21.00 to $17.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, Barclays reduced their price objective on Teladoc Health from $25.00 to $20.00 and set an “overweight” rating for the company in a research report on Friday, April 26th. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $16.16.

Teladoc Health Trading Down 6.9 %

Teladoc Health stock traded down $0.65 during trading hours on Thursday, reaching $8.78. 10,164,420 shares of the company’s stock traded hands, compared to its average volume of 5,368,042. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of -6.23 and a beta of 0.94. The company has a debt-to-equity ratio of 0.67, a quick ratio of 3.74 and a current ratio of 3.82. Teladoc Health has a fifty-two week low of $8.13 and a fifty-two week high of $27.36. The firm’s 50 day moving average is $10.06 and its 200-day moving average is $13.85.

Insider Activity at Teladoc Health

In other Teladoc Health news, Director Karen L. Daniel sold 9,834 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $11.90, for a total transaction of $117,024.60. Following the completion of the sale, the director now directly owns 36,995 shares in the company, valued at $440,240.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders have sold 15,388 shares of company stock worth $178,225. Insiders own 0.95% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Teladoc Health by 11.8% in the fourth quarter. Vanguard Group Inc. now owns 17,515,127 shares of the health services provider’s stock valued at $377,451,000 after acquiring an additional 1,855,480 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Teladoc Health by 25.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,834,422 shares of the health services provider’s stock valued at $82,636,000 after purchasing an additional 767,999 shares during the period. Norges Bank bought a new stake in Teladoc Health in the 4th quarter valued at about $9,714,000. Pale Fire Capital SE acquired a new position in shares of Teladoc Health during the 4th quarter worth approximately $8,960,000. Finally, Mizuho Markets Americas LLC bought a new position in shares of Teladoc Health during the second quarter worth approximately $3,937,000. Institutional investors own 76.82% of the company’s stock.

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.