Teladoc Health (NYSE:TDOC) PT Raised to $10.00

Teladoc Health (NYSE:TDOC) had its price target raised by research analysts at Royal Bank of Canada from $9.00 to $10.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the health services provider’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 5.26% from the stock’s current price.

TDOC has been the subject of a number of other reports. Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 price target on shares of Teladoc Health in a research report on Tuesday, August 20th. TD Cowen lowered their price objective on Teladoc Health from $15.00 to $9.00 and set a “hold” rating for the company in a research note on Thursday, August 1st. JPMorgan Chase & Co. dropped their target price on Teladoc Health from $16.00 to $9.00 and set a “neutral” rating on the stock in a report on Monday, August 26th. Truist Financial lowered their price target on Teladoc Health from $15.00 to $10.00 and set a “hold” rating for the company in a research report on Friday, August 2nd. Finally, Stifel Nicolaus cut their price objective on shares of Teladoc Health from $16.00 to $9.00 and set a “hold” rating on the stock in a research report on Thursday, August 1st. Fifteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $11.81.

Teladoc Health Price Performance

Shares of TDOC opened at $9.50 on Wednesday. The company has a 50-day simple moving average of $7.87 and a two-hundred day simple moving average of $10.30. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.62 and a current ratio of 1.66. Teladoc Health has a one year low of $6.76 and a one year high of $22.54.

Teladoc Health (NYSE:TDOC) last issued its quarterly earnings results on Wednesday, July 31st. The health services provider reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.36) by $0.08. The company had revenue of $642.44 million for the quarter, compared to analysts’ expectations of $649.34 million. Teladoc Health had a negative return on equity of 10.25% and a negative net margin of 38.54%. Research analysts anticipate that Teladoc Health will post -1.18 earnings per share for the current fiscal year.

Insider Activity

In other Teladoc Health news, insider Vidya Raman-Tangella sold 3,857 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $8.14, for a total value of $31,395.98. Following the completion of the transaction, the insider now directly owns 33,667 shares in the company, valued at $274,049.38. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CMO Stephany Verstraete sold 15,000 shares of Teladoc Health stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $7.60, for a total transaction of $114,000.00. Following the sale, the chief marketing officer now owns 45,158 shares of the company’s stock, valued at approximately $343,200.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Vidya Raman-Tangella sold 3,857 shares of the 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 sale, the insider now directly owns 33,667 shares of the company’s stock, valued at approximately $274,049.38. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 57,377 shares of company stock valued at $438,054 in the last ninety days. Corporate insiders own 0.95% of the company’s stock.

Hedge Funds Weigh In On Teladoc Health

Several institutional investors have recently bought and sold shares of the stock. Rubric Capital Management LP purchased a new stake in Teladoc Health in the 2nd quarter worth $45,267,000. Point72 Asset Management L.P. lifted its position in shares of Teladoc Health by 221.9% in the second quarter. Point72 Asset Management L.P. now owns 5,303,123 shares of the health services provider’s stock worth $51,865,000 after buying an additional 3,655,436 shares in the last quarter. Clearline Capital LP boosted its stake in Teladoc Health by 395.6% during the second quarter. Clearline Capital LP now owns 4,364,201 shares of the health services provider’s stock valued at $42,682,000 after buying an additional 3,483,665 shares during the last quarter. Vanguard Group Inc. grew its holdings in Teladoc Health by 11.8% during the 4th quarter. Vanguard Group Inc. now owns 17,515,127 shares of the health services provider’s stock valued at $377,451,000 after buying an additional 1,855,480 shares in the last quarter. Finally, Mizuho Markets Americas LLC bought a new stake in Teladoc Health in the 2nd quarter worth approximately $3,937,000. 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.