Teladoc Health (NYSE:TDOC) Trading Up 6% – Time to Buy?

Teladoc Health, Inc. (NYSE:TDOC)’s share price shot up 6% during mid-day trading on Tuesday . The company traded as high as $9.54 and last traded at $9.54. 2,561,442 shares were traded during mid-day trading, a decline of 53% from the average session volume of 5,459,634 shares. The stock had previously closed at $9.00.

Wall Street Analysts Forecast Growth

TDOC has been the subject of several recent research reports. JPMorgan Chase & Co. reduced their price target on Teladoc Health from $16.00 to $9.00 and set a “neutral” rating for the company in a research report on Monday, August 26th. Royal Bank of Canada lifted their target price on Teladoc Health from $9.00 to $10.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. TD Cowen lowered their price target on shares of Teladoc Health from $15.00 to $9.00 and set a “hold” rating on the stock in a report on Thursday, August 1st. Stifel Nicolaus cut their price objective on shares of Teladoc Health from $16.00 to $9.00 and set a “hold” rating for the company in a research report on Thursday, August 1st. Finally, Jefferies Financial Group upped their target price on shares of Teladoc Health from $8.00 to $10.00 and gave the stock a “hold” rating in a report on Tuesday, September 17th. Fifteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $11.81.

Teladoc Health Price Performance

The firm has a fifty day moving average price of $7.97 and a two-hundred day moving average price of $10.11. The company has a quick ratio of 1.62, a current ratio of 1.66 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $1.61 billion, a P/E ratio of -6.75 and a beta of 0.91.

Teladoc Health (NYSE:TDOC) last posted its quarterly earnings results on Wednesday, July 31st. The health services provider reported ($0.28) EPS for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.08. Teladoc Health had a negative net margin of 38.54% and a negative return on equity of 10.25%. The firm had revenue of $642.44 million for the quarter, compared to analysts’ expectations of $649.34 million. On average, analysts expect that Teladoc Health, Inc. will post -1.18 EPS for the current year.

Insider Activity at Teladoc Health

In related news, CEO Laizer Kornwasser sold 10,879 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $8.14, for a total transaction of $88,555.06. Following the completion of the sale, the chief executive officer now owns 99,929 shares in the company, valued at approximately $813,422.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Laizer Kornwasser sold 10,879 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $8.14, for a total transaction of $88,555.06. Following the completion of the sale, the chief executive officer now owns 99,929 shares of the company’s stock, valued at $813,422.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Vidya Raman-Tangella sold 3,857 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $8.14, for a total value of $31,395.98. Following the completion of the sale, the insider now owns 33,667 shares of the company’s stock, valued at $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 worth $438,054 over the last quarter. Company insiders own 0.95% of the company’s stock.

Institutional Investors Weigh In On Teladoc Health

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Signaturefd LLC increased its holdings in shares of Teladoc Health by 148.7% in the second quarter. Signaturefd LLC now owns 2,868 shares of the health services provider’s stock worth $28,000 after purchasing an additional 1,715 shares during the last quarter. International Assets Investment Management LLC bought a new stake in Teladoc Health in the second quarter worth $29,000. SageView Advisory Group LLC purchased a new stake in shares of Teladoc Health during the 1st quarter valued at about $48,000. Covestor Ltd raised its position in Teladoc Health by 58.1% during the first quarter. Covestor Ltd now owns 3,817 shares of the health services provider’s stock valued at $57,000 after purchasing an additional 1,403 shares during the period. Finally, Doheny Asset Management CA purchased a new stake in Teladoc Health during the 2nd quarter valued at $46,000. 76.82% of the stock is owned by institutional investors.

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.