Bank of America Lowers Teladoc Health (NYSE:TDOC) Price Target to $8.00

Teladoc Health (NYSE:TDOC) had its target price trimmed by Bank of America from $9.50 to $8.00 in a research report sent to investors on Friday,Benzinga reports. The firm currently has a neutral rating on the health services provider’s stock.

Other analysts have also recently issued reports about the stock. Royal Bank of Canada raised their target price on shares of Teladoc Health from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. Piper Sandler decreased their target price on Teladoc Health from $13.00 to $12.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. The Goldman Sachs Group reduced their target price on Teladoc Health from $16.00 to $13.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Needham & Company LLC reissued a “hold” rating on shares of Teladoc Health in a research note on Thursday, February 27th. Finally, Oppenheimer decreased their target price on shares of Teladoc Health from $14.00 to $12.00 and set an “outperform” rating for the company in a report on Friday, January 24th. Eleven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $10.94.

Teladoc Health Stock Up 0.2 %

TDOC opened at $7.26 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.69 and a current ratio of 1.73. The company has a market capitalization of $1.26 billion, a PE ratio of -1.26 and a beta of 1.73. The stock’s fifty day moving average is $9.73 and its 200-day moving average is $9.69. Teladoc Health has a one year low of $6.61 and a one year high of $15.21.

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

Insider Activity at Teladoc Health

In other Teladoc Health news, insider Adam C. Vandervoort sold 11,011 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $8.42, for a total value of $92,712.62. Following the completion of the sale, the insider now directly owns 64,308 shares of the company’s stock, valued at $541,473.36. The trade was a 14.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.95% of the company’s stock.

Institutional Investors Weigh In On Teladoc Health

A number of large investors have recently bought and sold shares of the business. Versant Capital Management Inc lifted its position in shares of Teladoc Health by 313.8% in the fourth quarter. Versant Capital Management Inc now owns 3,219 shares of the health services provider’s stock worth $29,000 after buying an additional 2,441 shares during the last quarter. Whipplewood Advisors LLC acquired a new position in shares of Teladoc Health during the 4th quarter valued at about $29,000. Lindbrook Capital LLC raised its stake in shares of Teladoc Health by 78.9% in the 4th quarter. Lindbrook Capital LLC now owns 3,654 shares of the health services provider’s stock valued at $33,000 after acquiring an additional 1,612 shares in the last quarter. Sterling Capital Management LLC lifted its holdings in Teladoc Health by 776.7% in the 4th quarter. Sterling Capital Management LLC now owns 4,629 shares of the health services provider’s stock worth $42,000 after purchasing an additional 4,101 shares during the last quarter. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in Teladoc Health during the fourth quarter worth approximately $60,000. 76.82% of the stock is currently owned by institutional investors.

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.