Teladoc Health (NYSE:TDOC) Hits New 1-Year Low After Analyst Downgrade

Teladoc Health, Inc. (NYSE:TDOC) shares reached a new 52-week low on Wednesday after Piper Sandler lowered their price target on the stock from $25.00 to $10.00. Piper Sandler currently has an overweight rating on the stock. Teladoc Health traded as low as $7.23 and last traded at $7.26, with a volume of 3716442 shares traded. The stock had previously closed at $7.49.

Other equities research analysts also recently issued reports about the stock. TD Cowen dropped their price target on shares of Teladoc Health from $15.00 to $9.00 and set a “hold” rating for the company in a research note on Thursday, August 1st. Needham & Company LLC restated a “hold” rating on shares of Teladoc Health in a report on Thursday, August 1st. Bank of America reduced their target price on shares of Teladoc Health from $16.50 to $13.50 and set a “neutral” rating for the company in a report on Tuesday, May 14th. Canaccord Genuity Group cut their price target on shares of Teladoc Health from $25.00 to $17.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Finally, Evercore ISI cut their target price on shares of Teladoc Health from $14.00 to $10.00 and set an “in-line” rating for the company in a research note on Tuesday, July 9th. Fourteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Teladoc Health currently has an average rating of “Hold” and an average target price of $13.56.

Insider Activity at Teladoc Health

In other Teladoc Health news, Director Karen L. Daniel sold 9,834 shares of Teladoc Health 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 transaction, the director now directly owns 36,995 shares of the company’s stock, valued at $440,240.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Teladoc Health news, insider Vidya Raman-Tangella sold 3,857 shares of Teladoc Health stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $8.14, for a total transaction of $31,395.98. Following the transaction, the insider now directly owns 33,667 shares of the company’s stock, valued at $274,049.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Karen L. Daniel sold 9,834 shares of Teladoc Health stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $11.90, for a total transaction of $117,024.60. Following the completion of the transaction, the director now directly owns 36,995 shares in the company, valued at $440,240.50. The disclosure for this sale can be found here. Insiders have sold 37,714 shares of company stock valued at $358,714 over the last three months. 0.95% of the stock is owned by corporate insiders.

Institutional Trading of Teladoc Health

Several large investors have recently added to or reduced their stakes in the stock. ICA Group Wealth Management LLC purchased a new position in shares of Teladoc Health in the 4th quarter worth about $28,000. Hexagon Capital Partners LLC raised its position in shares of Teladoc Health by 204.4% in the 4th quarter. Hexagon Capital Partners LLC now owns 1,586 shares of the health services provider’s stock worth $34,000 after purchasing an additional 1,065 shares during the last quarter. RIA Advisory Group LLC purchased a new position in shares of Teladoc Health in the 4th quarter worth about $36,000. GAMMA Investing LLC purchased a new position in shares of Teladoc Health in the 4th quarter worth about $41,000. Finally, Principal Securities Inc. purchased a new position in shares of Teladoc Health in the 4th quarter worth about $45,000. Institutional investors own 76.82% of the company’s stock.

Teladoc Health Trading Down 3.1 %

The firm has a 50-day moving average price of $9.73 and a 200-day moving average price of $13.43. The company has a debt-to-equity ratio of 0.67, a quick ratio of 3.74 and a current ratio of 3.82. The stock has a market cap of $1.23 billion, a PE ratio of -5.31 and a beta of 0.93.

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.