UBS Group Forecasts Strong Price Appreciation for Teladoc Health (NYSE:TDOC) Stock

Teladoc Health (NYSE:TDOC) had its target price increased by investment analysts at UBS Group from $6.50 to $9.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the health services provider’s stock. UBS Group‘s price target would suggest a potential upside of 4.35% from the stock’s current price.

TDOC has been the topic of a number of other research reports. Needham & Company LLC reiterated a “hold” rating on shares of Teladoc Health in a research note on Thursday. Argus downgraded shares of Teladoc Health from a “hold” rating to a “sell” rating in a research note on Monday. Oppenheimer raised their price target on shares of Teladoc Health from $7.00 to $10.00 and gave the company an “outperform” rating in a report on Monday. Bank of America boosted their price objective on shares of Teladoc Health from $9.00 to $10.50 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Finally, Citigroup decreased their price objective on shares of Teladoc Health from $11.00 to $7.50 and set a “neutral” rating for the company in a research report on Monday, August 3rd. Five research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $8.07.

Teladoc Health Stock Up 1.4%

Shares of NYSE TDOC traded up $0.12 on Monday, hitting $8.62. The company had a trading volume of 6,061,988 shares, compared to its average volume of 5,110,268. Teladoc Health has a 12-month low of $4.40 and a 12-month high of $9.89. The business has a 50 day moving average of $6.23 and a two-hundred day moving average of $6.47. The firm has a market capitalization of $1.57 billion, a P/E ratio of -10.03 and a beta of 2.00.

Teladoc Health (NYSE:TDOC) last released its quarterly earnings results on Wednesday, October 28th. The health services provider reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.07. The firm had revenue of $605.10 million for the quarter, compared to analyst estimates of $588.14 million. Teladoc Health had a negative return on equity of 11.63% and a negative net margin of 6.27%. Teladoc Health’s revenue for the quarter was down 3.4% on a year-over-year basis. During the same period in the previous year, the company posted ($0.28) EPS. On average, sell-side analysts anticipate that Teladoc Health will post -0.89 earnings per share for the current year.

Insider Transactions at Teladoc Health

In other Teladoc Health news, CEO Charles III sold 17,805 shares of Teladoc Health stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $6.10, for a total transaction of $108,610.50. Following the sale, the chief executive officer directly owned 465,535 shares in the company, valued at $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 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 owned by corporate insiders.

Institutional Trading of Teladoc Health

A number of hedge funds have recently made changes to their positions in TDOC. Renaissance Technologies LLC raised its holdings in Teladoc Health by 1.3% in the first quarter. Renaissance Technologies LLC now owns 8,085,542 shares of the health services provider’s stock valued at $44,066,000 after acquiring an additional 107,400 shares in the last quarter. Pale Fire Capital SE grew its holdings in Teladoc Health by 74.8% during 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 in the last quarter. Monaco Asset Management SAM bought a new stake in shares of Teladoc Health in the 2nd quarter worth about $26,864,000. Quantinno Capital Management LP increased its position 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 purchasing an additional 1,471,631 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC increased its position 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 purchasing an additional 1,502,488 shares during the last quarter. Institutional investors and hedge funds own 76.82% of the company’s stock.

Teladoc Health Company Profile

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.