Teladoc Health (NYSE:TDOC) Stock Price Down 4.3% After Analyst Downgrade

Teladoc Health, Inc. (NYSE:TDOCGet Free Report)’s share price was down 4.3% during mid-day trading on Wednesday after Evercore ISI lowered their price target on the stock from $14.00 to $10.00. Evercore ISI currently has an in-line rating on the stock. Teladoc Health traded as low as $8.76 and last traded at $8.76. Approximately 1,706,745 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 5,105,919 shares. The stock had previously closed at $9.15.

TDOC has been the subject of a number of other reports. Oppenheimer decreased their price objective on Teladoc Health from $26.00 to $21.00 and set an “outperform” rating for the company in a report on Friday, April 26th. Needham & Company LLC reiterated a “hold” rating on shares of Teladoc Health in a report on Friday, April 26th. JPMorgan Chase & Co. decreased their price target on Teladoc Health from $19.00 to $16.00 and set a “neutral” rating for the company in a research note on Tuesday, May 21st. Royal Bank of Canada decreased their price target on Teladoc Health from $25.00 to $18.00 and set an “outperform” rating for the company in a research note on Friday, April 26th. Finally, Bank of America decreased their price target on Teladoc Health from $16.50 to $13.50 and set a “neutral” rating for the company in a research note on Tuesday, May 14th. Thirteen analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $17.97.

Read Our Latest Stock Analysis on TDOC

Insider Activity

In other news, insider Laizer Kornwasser sold 10,411 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $12.69, for a total value of $132,115.59. Following the completion of the sale, the insider now directly owns 86,070 shares of the company’s stock, valued at $1,092,228.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, COO Michael Willem Waters sold 5,793 shares of Teladoc Health stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $12.69, for a total transaction of $73,513.17. Following the completion of the sale, the chief operating officer now directly owns 64,881 shares of the company’s stock, valued at approximately $823,339.89. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Laizer Kornwasser sold 10,411 shares of Teladoc Health stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $12.69, for a total value of $132,115.59. Following the sale, the insider now directly owns 86,070 shares of the company’s stock, valued at $1,092,228.30. The disclosure for this sale can be found here. Insiders sold a total of 32,592 shares of company stock valued at $397,064 over the last three months. Insiders own 0.95% of the company’s stock.

Hedge Funds Weigh In On Teladoc Health

Several hedge funds and other institutional investors have recently modified their holdings of TDOC. Vanguard Group Inc. increased its stake in shares of Teladoc Health by 11.8% in the 4th quarter. Vanguard Group Inc. now owns 17,515,127 shares of the health services provider’s stock valued at $377,451,000 after purchasing an additional 1,855,480 shares during the last quarter. ARK Investment Management LLC increased its stake in shares of Teladoc Health by 4.5% in the 4th quarter. ARK Investment Management LLC now owns 21,224,565 shares of the health services provider’s stock valued at $457,389,000 after purchasing an additional 912,692 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Teladoc Health by 25.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,834,422 shares of the health services provider’s stock worth $82,636,000 after acquiring an additional 767,999 shares during the last quarter. Norges Bank bought a new stake in Teladoc Health during the 4th quarter worth $9,714,000. Finally, Pale Fire Capital SE bought a new stake in Teladoc Health during the 4th quarter worth $8,960,000. Institutional investors own 76.82% of the company’s stock.

Teladoc Health Price Performance

The firm has a market cap of $1.52 billion, a P/E ratio of -6.35 and a beta of 0.94. The company has a current ratio of 3.82, a quick ratio of 3.74 and a debt-to-equity ratio of 0.67. The business has a 50-day moving average of $10.93 and a two-hundred day moving average of $15.09.

Teladoc Health (NYSE:TDOCGet Free Report) last issued its quarterly earnings data on Thursday, April 25th. The health services provider reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.02). The firm had revenue of $646.13 million for the quarter, compared to the consensus estimate of $637.31 million. Teladoc Health had a negative return on equity of 10.13% and a negative net margin of 8.90%. The company’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.37) EPS. On average, sell-side analysts anticipate that Teladoc Health, Inc. will post -1.05 earnings per share for the current fiscal year.

About Teladoc Health

(Get Free Report)

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.

Further Reading

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