Stock Traders Buy Large Volume of Teladoc Health Call Options (NYSE:TDOC)

Teladoc Health, Inc. (NYSE:TDOC) was the target of unusually large options trading on Thursday. Traders purchased 33,742 call options on the company. This represents an increase of 66% compared to the average daily volume of 20,354 call options.

Institutional Trading of Teladoc Health

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Teladoc Health by 5.9% during the 4th 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 during the last quarter. Point72 Asset Management L.P. raised its holdings in Teladoc Health by 33.6% in the 4th quarter. Point72 Asset Management L.P. now owns 11,179,863 shares of the health services provider’s stock valued at $101,625,000 after acquiring an additional 2,813,568 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Teladoc Health by 15.5% in the 4th quarter. Renaissance Technologies LLC now owns 5,674,542 shares of the health services provider’s stock valued at $51,582,000 after acquiring an additional 763,265 shares in the last quarter. Geode Capital Management LLC raised its holdings in Teladoc Health by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 3,947,831 shares of the health services provider’s stock valued at $35,894,000 after acquiring an additional 22,664 shares in the last quarter. Finally, Maple Rock Capital Partners Inc. raised its holdings in Teladoc Health by 189.5% in the 4th quarter. Maple Rock Capital Partners Inc. now owns 3,561,000 shares of the health services provider’s stock valued at $32,369,000 after acquiring an additional 2,331,000 shares in the last quarter. 76.82% of the stock is owned by institutional investors and hedge funds.

Teladoc Health Stock Performance

TDOC opened at $9.16 on Friday. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of -1.59 and a beta of 1.27. The business has a 50 day moving average of $10.62 and a 200-day moving average of $9.61. The company has a quick ratio of 1.69, a current ratio of 1.73 and a debt-to-equity ratio of 0.66. Teladoc Health has a 12-month low of $6.76 and a 12-month high of $15.95.

Teladoc Health (NYSE:TDOC) last released its quarterly earnings results on Wednesday, February 26th. The health services provider reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.07). The firm had revenue of $640.49 million for the quarter, compared to analyst estimates of $639.44 million. Teladoc Health had a negative return on equity of 10.06% and a negative net margin of 37.91%. On average, equities research analysts expect that Teladoc Health will post -1.16 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Royal Bank of Canada increased their price objective on Teladoc Health from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. Oppenheimer decreased their price target on Teladoc Health from $14.00 to $12.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Bank of America raised their price target on Teladoc Health from $11.50 to $13.50 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. Needham & Company LLC restated a “hold” rating on shares of Teladoc Health in a research note on Thursday, February 27th. Finally, Piper Sandler decreased their price target on Teladoc Health from $13.00 to $12.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. Eleven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $11.26.

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.