Teladoc Health, Inc. (NYSE:TDOC) Stock Has Average Price Target of $8.40

Teladoc Health, Inc. (NYSE:TDOC) has earned a consensus rating of “Hold” from the eighteen ratings firms that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation and five have given a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $8.53.

A number of analysts have weighed in on TDOC shares. Deutsche Bank raised their price objective on shares of Teladoc Health from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Friday, October 30th. JPMorgan Chase & Co. increased their target price on shares of Teladoc Health from $8.00 to $10.00 and gave the company a “neutral” rating in a research report on Friday, October 30th. Stifel Nicolaus lifted their price target on shares of Teladoc Health from $5.50 to $6.50 and gave the stock a “hold” rating in a research note on Thursday, October 29th. Canaccord Genuity Group cut their price target on shares of Teladoc Health from $11.00 to $10.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Teladoc Health in a research report on Wednesday, August 19th.

Insider Activity

In other news, CEO Charles III sold 17,805 shares of the business’s stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $6.10, for a total value of $108,610.50. Following the completion of the sale, the chief executive officer directly owned 465,535 shares of the company’s stock, valued at approximately $2,839,763.50. The trade was a 3.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Carlos Nueno sold 29,432 shares of the company’s stock in a transaction dated Friday, November 6th. The shares were sold at an average price of $9.20, for a total value of $270,774.40. Following the completion of the sale, the insider directly owned 35,312 shares of the company’s stock, valued at approximately $324,870.40. This trade represents a 45.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 47,892 shares of company stock worth $383,086. Corporate insiders own 0.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TDOC. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Teladoc Health in the 2nd quarter valued at $1,447,000. Counterpoint Mutual Funds LLC boosted its stake in Teladoc Health by 1,017.4% during 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 purchasing an additional 1,502,488 shares during the period. Monaco Asset Management SAM acquired a new stake in Teladoc Health during the 2nd quarter worth $26,864,000. ABS Investment Management LLC acquired a new stake in Teladoc Health during the 2nd quarter worth $1,513,154. Finally, ABS Direct Equity Fund LLC purchased a new position in Teladoc Health during the 2nd quarter worth $1,513,000. Institutional investors and hedge funds own 76.82% of the company’s stock.

Teladoc Health Trading Down 2.8%

Shares of TDOC stock opened at $8.69 on Friday. The firm has a fifty day moving average price of $6.71 and a 200 day moving average price of $6.59. The company has a market cap of $1.58 billion, a P/E ratio of -10.11 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 posted its earnings results on Wednesday, October 28th. The health services provider reported ($0.15) EPS for the quarter, beating the consensus estimate 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 firm had revenue of $605.10 million for the quarter, compared to analyst estimates of $588.14 million. During the same quarter in the prior year, the company posted ($0.28) earnings per share. Teladoc Health’s revenue for the quarter was down 3.4% compared to the same quarter last year. On average, equities analysts forecast that Teladoc Health will post -0.86 EPS for the current year.

About Teladoc Health

Teladoc Health, Inc. provides virtual healthcare services through a digital platform that connects individuals with clinicians and other health professionals. Its offerings include virtual primary and specialty care, mental health services, and support for managing chronic conditions. The company serves members in the United States and internationally, with services and availability varying by market. Its consumer mental health services include BetterHelp, while its chronic-care programs draw on technology and services developed by Livongo, which Teladoc acquired in 2020.