Teladoc Health (NYSE:TDOC) Price Target Raised to $10.00

Teladoc Health (NYSE:TDOC) had its price objective raised by Oppenheimer from $7.00 to $10.00 in a research note published on Monday morning,Benzinga reports. The brokerage currently has an outperform rating on the health services provider’s stock.

Several other equities research analysts also recently weighed in on TDOC. JPMorgan Chase & Co. upped their price objective on shares of Teladoc Health from $8.00 to $10.00 and gave the stock a “neutral” rating in a report on Friday, October 30th. Bank of America raised their target price on shares of Teladoc Health from $9.00 to $10.50 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Teladoc Health in a research note on Thursday, October 29th. Stifel Nicolaus increased their price objective on shares of Teladoc Health from $5.50 to $6.50 and gave the company a “hold” rating in a report on Thursday, October 29th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Teladoc Health in a research note on Wednesday, August 19th. Five research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Teladoc Health presently has a consensus rating of “Hold” and a consensus price target of $8.27.

Teladoc Health Price Performance

TDOC opened at $9.66 on Monday. The stock’s 50 day moving average price is $6.40 and its 200 day moving average price is $6.51. The stock has a market cap of $1.76 billion, a P/E ratio of -11.23 and a beta of 2.00. Teladoc Health has a 12 month low of $4.40 and a 12 month high of $9.89.

Teladoc Health (NYSE:TDOC) last announced its quarterly earnings results on Wednesday, October 28th. The health services provider reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.07. Teladoc Health had a negative return on equity of 11.63% and a negative net margin of 6.27%. The company had revenue of $605.10 million during the quarter, compared to analyst estimates of $588.14 million. During the same quarter in the previous year, the firm posted ($0.28) EPS. The firm’s quarterly revenue was down 3.4% on a year-over-year basis. Equities analysts anticipate that Teladoc Health will post -0.86 EPS for the current year.

Insider Buying and Selling at Teladoc Health

In related news, CEO Charles III sold 17,805 shares of the firm’s stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $6.10, for a total transaction of $108,610.50. Following the completion of the transaction, the chief executive officer owned 465,535 shares of the company’s stock, valued at $2,839,763.50. This trade represents a 3.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of TDOC. Monaco Asset Management SAM acquired a new stake in shares of Teladoc Health during the 2nd quarter valued at $26,864,000. Counterpoint Mutual Funds LLC grew its holdings in shares of Teladoc Health by 1,017.4% in the 3rd quarter. Counterpoint Mutual Funds LLC now owns 1,650,165 shares of the health services provider’s stock worth $9,571,000 after acquiring an additional 1,502,488 shares during the last quarter. Quantinno Capital Management LP grew its holdings in shares of Teladoc Health by 128.0% in the 1st quarter. Quantinno Capital Management LP now owns 2,621,378 shares of the health services provider’s stock worth $14,287,000 after acquiring an additional 1,471,631 shares during the last quarter. Pale Fire Capital SE grew its holdings in shares of Teladoc Health by 74.8% in the 1st quarter. Pale Fire Capital SE now owns 3,398,491 shares of the health services provider’s stock worth $18,522,000 after acquiring an additional 1,454,288 shares during the last quarter. Finally, Freestone Grove Partners LP acquired a new stake in shares of Teladoc Health during the second quarter worth $7,338,000. 76.82% of the stock is owned by institutional investors and hedge funds.

About Teladoc Health

Teladoc Health, Inc provides virtual healthcare services and technology designed to connect patients with medical professionals remotely. Through its digital platforms, the company supports a range of healthcare needs, including general medical consultations, mental health services, specialty care, and ongoing management of chronic conditions.

Its offerings include telehealth visits with physicians and other licensed providers, behavioral health services through BetterHelp, and chronic care programs that use digital tools and clinical support to help people manage conditions such as diabetes and hypertension.