Teladoc Health (NYSE:TDOC) Stock Price Down 5.4% – Here’s Why

Shares of Teladoc Health, Inc. (NYSE:TDOC) dropped 5.4% during mid-day trading on Tuesday . The stock traded as low as $10.05 and last traded at $10.10. Approximately 1,691,144 shares traded hands during trading, a decline of 69% from the average daily volume of 5,515,436 shares. The stock had previously closed at $10.68.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TDOC. Deutsche Bank Aktiengesellschaft boosted their target price on Teladoc Health from $10.00 to $12.00 and gave the company a “hold” rating in a report on Friday, November 1st. Royal Bank of Canada increased their price objective on Teladoc Health from $9.00 to $10.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. Jefferies Financial Group upped their price target on shares of Teladoc Health from $8.00 to $10.00 and gave the company a “hold” rating in a research report on Tuesday, September 17th. JPMorgan Chase & Co. lowered their price objective on shares of Teladoc Health from $16.00 to $9.00 and set a “neutral” rating on the stock in a research report on Monday, August 26th. Finally, TD Cowen dropped their price objective on shares of Teladoc Health from $9.00 to $8.00 and set a “hold” rating on the stock in a research note on Thursday, October 31st. Fourteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Teladoc Health currently has an average rating of “Hold” and an average price target of $12.24.

Teladoc Health Stock Performance

The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of -1.55 and a beta of 0.97. The stock has a fifty day moving average price of $9.86 and a 200-day moving average price of $9.14. The company has a current ratio of 1.73, a quick ratio of 1.69 and a debt-to-equity ratio of 0.66.

Teladoc Health (NYSE:TDOC) last posted its quarterly earnings data on Wednesday, October 30th. The health services provider reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.10. Teladoc Health had a negative return on equity of 10.06% and a negative net margin of 37.91%. The firm had revenue of $640.51 million for the quarter, compared to the consensus estimate of $630.50 million. As a group, analysts anticipate that Teladoc Health, Inc. will post -1.16 earnings per share for the current fiscal year.

Insider Activity at Teladoc Health

In other Teladoc Health news, insider Carlos Nueno sold 2,389 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $11.93, for a total transaction of $28,500.77. Following the completion of the sale, the insider now directly owns 2,890 shares in the company, valued at $34,477.70. This trade represents a 45.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.95% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in TDOC. Point72 Asset Management L.P. raised its position in shares of Teladoc Health by 57.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 8,366,295 shares of the health services provider’s stock valued at $76,803,000 after buying an additional 3,063,172 shares in the last quarter. Rubric Capital Management LP acquired a new stake in shares of Teladoc Health in the 2nd quarter valued at $45,267,000. Clearline Capital LP increased its stake in shares of Teladoc Health by 395.6% in the 2nd quarter. Clearline Capital LP now owns 4,364,201 shares of the health services provider’s stock valued at $42,682,000 after purchasing an additional 3,483,665 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Teladoc Health by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 3,925,167 shares of the health services provider’s stock worth $36,042,000 after buying an additional 56,864 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in Teladoc Health in the third quarter valued at about $15,801,000. Institutional investors and hedge funds 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.