Teladoc Health (NYSE:TDOC) Shares Gap Up Following Analyst Upgrade

Teladoc Health, Inc. (NYSE:TDOC)’s share price gapped up prior to trading on Tuesday after Jefferies Financial Group raised their price target on the stock from $8.00 to $10.00. The stock had previously closed at $8.16, but opened at $8.91. Jefferies Financial Group currently has a hold rating on the stock. Teladoc Health shares last traded at $9.03, with a volume of 2,703,750 shares changing hands.

TDOC has been the topic of a number of other reports. Stifel Nicolaus lowered their price target on shares of Teladoc Health from $16.00 to $9.00 and set a “hold” rating on the stock in a research note on Thursday, August 1st. JPMorgan Chase & Co. dropped their target price on shares of Teladoc Health from $16.00 to $9.00 and set a “neutral” rating for the company in a report on Monday, August 26th. Piper Sandler reduced their price target on shares of Teladoc Health from $25.00 to $10.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Needham & Company LLC restated a “hold” rating on shares of Teladoc Health in a report on Thursday, August 1st. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $10.00 target price on shares of Teladoc Health in a research report on Tuesday, August 20th. Fifteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $12.31.

Insider Activity

In related news, insider Vidya Raman-Tangella sold 3,857 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $8.14, for a total transaction of $31,395.98. Following the sale, the insider now owns 33,667 shares of the company’s stock, valued at $274,049.38. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Vidya Raman-Tangella sold 3,857 shares of Teladoc Health stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $8.14, for a total value of $31,395.98. Following the transaction, the insider now owns 33,667 shares of the company’s stock, valued at approximately $274,049.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Laizer Kornwasser sold 10,879 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $8.14, for a total value of $88,555.06. Following the completion of the transaction, the chief executive officer now directly owns 99,929 shares in the company, valued at approximately $813,422.06. The disclosure for this sale can be found here. Insiders sold 57,819 shares of company stock worth $442,204 over the last three months. Corporate insiders own 0.95% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TDOC. Parallel Advisors LLC raised its holdings in Teladoc Health by 14.6% in the 4th quarter. Parallel Advisors LLC now owns 4,038 shares of the health services provider’s stock worth $87,000 after acquiring an additional 515 shares during the period. Ignite Planners LLC grew its holdings in Teladoc Health by 6.9% in the 1st quarter. Ignite Planners LLC now owns 13,307 shares of the health services provider’s stock valued at $198,000 after buying an additional 857 shares during the last quarter. ICA Group Wealth Management LLC bought a new position in Teladoc Health in the 4th quarter worth approximately $28,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Teladoc Health by 2.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 65,588 shares of the health services provider’s stock worth $641,000 after buying an additional 1,352 shares during the period. Finally, Covestor Ltd lifted its holdings in shares of Teladoc Health by 58.1% during the first quarter. Covestor Ltd now owns 3,817 shares of the health services provider’s stock worth $57,000 after buying an additional 1,403 shares during the last quarter. 76.82% of the stock is owned by hedge funds and other institutional investors.

Teladoc Health Price Performance

The firm has a 50-day moving average price of $8.05 and a two-hundred day moving average price of $10.98. The company has a market capitalization of $1.54 billion, a P/E ratio of -6.64 and a beta of 0.90. The company has a quick ratio of 1.62, a current ratio of 1.66 and a debt-to-equity ratio of 0.66.

Teladoc Health (NYSE:TDOC) last issued its earnings results on Wednesday, July 31st. The health services provider reported ($0.28) EPS for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.08. The business had revenue of $642.44 million during the quarter, compared to analyst estimates of $649.34 million. Teladoc Health had a negative return on equity of 10.25% and a negative net margin of 38.54%. Equities research analysts anticipate that Teladoc Health, Inc. will post -0.73 EPS for the current fiscal year.

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.