Teladoc Health (NYSE:TDOC) Trading Up 6.6% – What’s Next?

Teladoc Health, Inc. (NYSE:TDOC) rose 6.6% during trading on Wednesday . The stock traded as high as $9.94 and last traded at $10.13. Approximately 696,211 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 3,849,119 shares. The stock had previously closed at $9.50.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on TDOC shares. TD Cowen decreased their price objective on shares of Teladoc Health from $9.00 to $8.00 and set a “hold” rating on the stock in a report on Thursday, October 31st. Piper Sandler reiterated an “overweight” rating and issued a $13.00 price objective (up from $11.00) on shares of Teladoc Health in a report on Wednesday, December 4th. Royal Bank of Canada raised their target price on Teladoc Health from $9.00 to $10.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. The Goldman Sachs Group started coverage on Teladoc Health in a research report on Friday, November 15th. They set a “buy” rating and a $14.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Teladoc Health from $10.00 to $12.00 and gave the company a “hold” rating in a report on Friday, November 1st. Fourteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Teladoc Health presently has an average rating of “Hold” and a consensus price target of $12.24.

Teladoc Health Stock Performance

The firm’s fifty day moving average is $9.96 and its 200-day moving average is $9.02. The company has a current ratio of 1.73, a quick ratio of 1.69 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $1.71 billion, a PE ratio of -1.72 and a beta of 1.01.

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

Insider Transactions at Teladoc Health

In related news, insider Carlos Nueno sold 2,389 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $11.93, for a total value of $28,500.77. Following the sale, the insider now owns 2,890 shares in the company, valued at approximately $34,477.70. The trade was a 45.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.95% of the company’s stock.

Hedge Funds Weigh In On Teladoc Health

Institutional investors have recently bought and sold shares of the company. American Century Companies Inc. grew its position in shares of Teladoc Health by 31.0% during the second quarter. American Century Companies Inc. now owns 136,351 shares of the health services provider’s stock worth $1,334,000 after buying an additional 32,240 shares in the last quarter. Vanguard Personalized Indexing Management LLC purchased a new position in Teladoc Health in the second quarter valued at $133,000. Hsbc Holdings PLC raised its stake in Teladoc Health by 38.2% in the second quarter. Hsbc Holdings PLC now owns 392,150 shares of the health services provider’s stock valued at $3,862,000 after buying an additional 108,307 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in Teladoc Health by 209.8% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 5,015 shares of the health services provider’s stock worth $49,000 after buying an additional 3,396 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in shares of Teladoc Health by 13.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 328,900 shares of the health services provider’s stock worth $3,217,000 after acquiring an additional 38,800 shares in the last quarter. 76.82% of the stock is owned by institutional investors and hedge funds.

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.