Piper Sandler Trims Teladoc Health (NYSE:TDOC) Target Price to $40.00

Teladoc Health (NYSE:TDOC – Get Rating) had its price objective reduced by analysts at Piper Sandler from $42.00 to $40.00 in a research note issued to investors on Thursday, The Fly reports. The brokerage currently has an “overweight” rating on the health services provider’s stock. Piper Sandler’s target price points to a potential upside of 8.55% from the company’s previous close.

Several other research firms have also recently commented on TDOC. Stifel Nicolaus lowered their price target on Teladoc Health from $45.00 to $36.00 and set a “hold” rating for the company in a report on Wednesday, June 29th. Argus cut Teladoc Health from a “buy” rating to a “hold” rating in a report on Thursday, May 5th. Needham & Company LLC reduced their price objective on Teladoc Health from $100.00 to $48.00 in a research note on Thursday, April 28th. Canaccord Genuity Group reduced their price objective on Teladoc Health from $112.00 to $50.00 in a research note on Thursday, April 28th. Finally, SVB Leerink lowered Teladoc Health from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 28th. One research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $79.07.

Teladoc Health Trading Up 3.5 %

Teladoc Health stock opened at $36.85 on Thursday. The company has a current ratio of 3.94, a quick ratio of 3.71 and a debt-to-equity ratio of 0.17. The stock has a market cap of $5.94 billion, a PE ratio of -0.86 and a beta of 0.79. The stock has a 50-day moving average price of $35.94 and a 200 day moving average price of $53.67. Teladoc Health has a 52 week low of $27.38 and a 52 week high of $156.82.

Teladoc Health (NYSE:TDOC – Get Rating) last posted its quarterly earnings results on Wednesday, April 27th. The health services provider reported ($0.47) EPS for the quarter, beating the consensus estimate of ($0.55) by $0.08. The company had revenue of $565.35 million during the quarter, compared to analysts’ expectations of $568.91 million. Teladoc Health had a negative return on equity of 2.12% and a negative net margin of 321.94%. During the same quarter in the previous year, the business earned $0.13 EPS. Equities research analysts predict that Teladoc Health will post -2.05 earnings per share for the current fiscal year.

Insider Activity at Teladoc Health

In related news, CFO Mala Murthy sold 4,053 shares of the company’s stock in a transaction that occurred on Monday, June 27th. The stock was sold at an average price of $37.32, for a total transaction of $151,257.96. Following the sale, the chief financial officer now directly owns 27,295 shares of the company’s stock, valued at approximately $1,018,649.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Teladoc Health news, SVP Daniel Trencher sold 1,000 shares of the stock in a transaction on Monday, July 18th. The stock was sold at an average price of $41.12, for a total value of $41,120.00. Following the sale, the senior vice president now directly owns 27,408 shares of the company’s stock, valued at $1,127,016.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Mala Murthy sold 4,053 shares of the stock in a transaction on Monday, June 27th. The stock was sold at an average price of $37.32, for a total value of $151,257.96. Following the completion of the sale, the chief financial officer now directly owns 27,295 shares in the company, valued at $1,018,649.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,053 shares of company stock valued at $221,498. Corporate insiders own 1.55% of the company’s stock.

Institutional Investors Weigh In On Teladoc Health

Several large investors have recently added to or reduced their stakes in the stock. CarsonAllaria Wealth Management Ltd. acquired a new position in shares of Teladoc Health during the fourth quarter valued at $30,000. DB Wealth Management Group LLC acquired a new position in shares of Teladoc Health during the first quarter valued at $25,000. McCarthy Asset Management Inc. acquired a new position in shares of Teladoc Health during the first quarter valued at $25,000. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of Teladoc Health during the first quarter valued at $27,000. Finally, City State Bank acquired a new position in shares of Teladoc Health during the fourth quarter valued at $27,000. 87.17% of the stock is owned by institutional investors and hedge funds.

About Teladoc Health

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Teladoc Health, Inc provides virtual healthcare services in the United States and internationally. The company offers a portfolio of services and solutions covering non-urgent, episodic, chronic, and complicated medical conditions, including diabetes, hypertension, chronic kidney disease, cancer, congestive heart failure, and mental health conditions.