Teladoc Health (NYSE:TDOC) Shares Down 3.4% – Here’s Why

Shares of Teladoc Health, Inc. (NYSE:TDOC) traded down 3.4% during trading on Friday . The company traded as low as $9.18 and last traded at $9.20. 890,929 shares were traded during mid-day trading, a decline of 53% from the average session volume of 1,878,147 shares. The stock had previously closed at $9.52.

Wall Street Analysts Forecast Growth

TDOC has been the topic of several research reports. Piper Sandler reaffirmed an “overweight” rating and set a $13.00 price target (up from $11.00) on shares of Teladoc Health in a report on Wednesday, December 4th. The Goldman Sachs Group began coverage on shares of Teladoc Health in a report on Friday, November 15th. They set a “buy” rating and a $14.00 price target for the company. Royal Bank of Canada raised 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. TD Cowen lowered their target price on Teladoc Health from $9.00 to $8.00 and set a “hold” rating for the company in a report on Thursday, October 31st. Finally, Jefferies Financial Group lifted their price target on Teladoc Health from $8.00 to $10.00 and gave the company a “hold” rating in a research note on Tuesday, September 17th. Fourteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $12.24.

Teladoc Health Price Performance

The company has a market cap of $1.64 billion, a price-to-earnings ratio of -1.65 and a beta of 0.97. The stock’s 50-day moving average is $9.89 and its 200-day moving average is $9.04. 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 released its quarterly earnings data on Wednesday, October 30th. The health services provider reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.10. Teladoc Health had a negative net margin of 37.91% and a negative return on equity of 10.06%. The company had revenue of $640.51 million for the quarter, compared to analysts’ expectations of $630.50 million. On average, analysts anticipate that Teladoc Health, Inc. will post -1.16 earnings per share for the current fiscal year.

Insider Buying and Selling at Teladoc Health

In other Teladoc Health news, insider Carlos Nueno sold 2,389 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $11.93, for a total value of $28,500.77. Following the transaction, the insider now directly owns 2,890 shares of the company’s stock, valued at approximately $34,477.70. This trade represents a 45.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 made changes to their positions in the business. Rubric Capital Management LP bought a new stake in Teladoc Health during the 2nd quarter worth approximately $45,267,000. Point72 Asset Management L.P. grew its holdings in Teladoc Health by 221.9% during the second quarter. Point72 Asset Management L.P. now owns 5,303,123 shares of the health services provider’s stock worth $51,865,000 after buying an additional 3,655,436 shares in the last quarter. Clearline Capital LP raised its position in 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 buying an additional 3,483,665 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in Teladoc Health during the 3rd quarter valued at $15,801,000. Finally, Maple Rock Capital Partners Inc. purchased a new position in Teladoc Health during the 3rd quarter worth $11,291,000. 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.