Teladoc Health (NYSE:TDOC) Sees Strong Trading Volume Following Better-Than-Expected Earnings

Teladoc Health, Inc. (NYSE:TDOC) saw unusually-strong trading volume on Thursday following a stronger than expected earnings report. Approximately 4,503,759 shares changed hands during mid-day trading, a decline of 17% from the previous session’s volume of 5,417,872 shares.The stock last traded at $8.69 and had previously closed at $8.86.

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 analyst estimates of $630.50 million. Teladoc Health had a negative net margin of 37.91% and a negative return on equity of 9.40%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on TDOC shares. Oppenheimer lowered their price objective on shares of Teladoc Health from $21.00 to $17.00 and set an “outperform” rating on the stock in a research note on Thursday, August 1st. Barclays boosted their price target on Teladoc Health from $10.00 to $12.00 and gave the company an “overweight” rating in a research note on Thursday. Canaccord Genuity Group reduced their price objective on Teladoc Health from $25.00 to $17.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 price objective on shares of Teladoc Health in a report on Tuesday, August 20th. Finally, Needham & Company LLC restated a “hold” rating on shares of Teladoc Health in a research note on Thursday, August 1st. Fourteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $11.97.

Insider Buying and Selling

In other news, Director Thomas Mckinley bought 7,000 shares of the stock in a transaction dated Tuesday, August 6th. The stock was bought at an average cost of $7.57 per share, with a total value of $52,990.00. Following the purchase, the director now owns 31,077 shares of the company’s stock, valued at approximately $235,252.89. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Thomas Mckinley purchased 7,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were acquired at an average price of $7.57 per share, with a total value of $52,990.00. Following the completion of the purchase, the director now directly owns 31,077 shares of the company’s stock, valued at $235,252.89. The trade was a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mala Murthy sold 8,750 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $7.16, for a total value of $62,650.00. Following the sale, the chief financial officer now directly owns 85,767 shares of the company’s stock, valued at $614,091.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 36,588 shares of company stock worth $268,831 in the last quarter. Insiders own 0.95% of the company’s stock.

Institutional Trading of Teladoc Health

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Signaturefd LLC grew its holdings in Teladoc Health by 148.7% during the second quarter. Signaturefd LLC now owns 2,868 shares of the health services provider’s stock valued at $28,000 after purchasing an additional 1,715 shares during the period. International Assets Investment Management LLC bought a new stake in shares of Teladoc Health in the 2nd quarter valued at $29,000. Blue Trust Inc. raised its stake in Teladoc Health by 84.5% during the 3rd quarter. Blue Trust Inc. now owns 4,048 shares of the health services provider’s stock worth $40,000 after buying an additional 1,854 shares during the period. Doheny Asset Management CA bought a new position in Teladoc Health during the second quarter worth about $46,000. Finally, SageView Advisory Group LLC bought a new position in shares of Teladoc Health during the 1st quarter valued at about $48,000. 76.82% of the stock is owned by institutional investors.

Teladoc Health Price Performance

The company’s fifty day moving average price is $8.48 and its two-hundred day moving average price is $9.69. 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 company has a market cap of $1.58 billion, a price-to-earnings ratio of -1.60 and a beta of 0.91.

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.