Teladoc Health (NYSE:TDOC) Trading Down 6.4% – Here’s Why

Teladoc Health, Inc. (NYSE:TDOC)’s stock price was down 6.4% during trading on Tuesday . The company traded as low as $13.65 and last traded at $13.41. Approximately 8,362,461 shares traded hands during mid-day trading, an increase of 28% from the average daily volume of 6,515,833 shares. The stock had previously closed at $14.33.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on TDOC shares. Barclays lifted their price target on Teladoc Health from $10.00 to $12.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. TD Cowen decreased their price target on Teladoc Health from $9.00 to $8.00 and set a “hold” rating for the company in a research note on Thursday, October 31st. The Goldman Sachs Group lifted their price target on Teladoc Health from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft lifted their price target on Teladoc Health from $10.00 to $12.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Finally, Royal Bank of Canada lifted their price target on Teladoc Health from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Friday, January 24th. Fourteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Teladoc Health presently has an average rating of “Hold” and an average price target of $12.18.

Teladoc Health Stock Performance

The stock has a fifty day moving average price of $10.41 and a two-hundred day moving average price of $9.35. The company has a market cap of $2.26 billion, a P/E ratio of -2.27 and a beta of 1.05. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.73 and a quick ratio of 1.69.

Insider Activity

In related news, insider Carlos Nueno sold 2,389 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $11.93, for a total transaction of $28,500.77. Following the sale, the insider now owns 2,890 shares of the company’s stock, valued at $34,477.70. The trade was a 45.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.95% of the company’s stock.

Institutional Investors Weigh In On Teladoc Health

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Teladoc Health by 5.9% during the fourth quarter. Vanguard Group Inc. now owns 18,463,155 shares of the health services provider’s stock worth $167,830,000 after purchasing an additional 1,029,829 shares in the last quarter. Point72 Asset Management L.P. raised its holdings in Teladoc Health by 33.6% during the fourth quarter. Point72 Asset Management L.P. now owns 11,179,863 shares of the health services provider’s stock worth $101,625,000 after purchasing an additional 2,813,568 shares in the last quarter. Renaissance Technologies LLC grew its position in Teladoc Health by 15.5% in the fourth quarter. Renaissance Technologies LLC now owns 5,674,542 shares of the health services provider’s stock worth $51,582,000 after buying an additional 763,265 shares during the last quarter. Geode Capital Management LLC grew its position in Teladoc Health by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 3,947,831 shares of the health services provider’s stock worth $35,894,000 after buying an additional 22,664 shares during the last quarter. Finally, Maple Rock Capital Partners Inc. grew its position in Teladoc Health by 189.5% in the fourth quarter. Maple Rock Capital Partners Inc. now owns 3,561,000 shares of the health services provider’s stock worth $32,369,000 after buying an additional 2,331,000 shares during the last quarter. Institutional investors own 76.82% of the company’s stock.

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.