Teladoc Health (NYSE:TDOC) Trading Down 6.3% Following Analyst Downgrade

Shares of Teladoc Health, Inc. (NYSE:TDOC) fell 6.3% during trading on Thursday after Canaccord Genuity Group lowered their price target on the stock from $14.00 to $12.00. Canaccord Genuity Group currently has a buy rating on the stock. Teladoc Health traded as low as $6.78 and last traded at $6.74. 1,275,288 shares traded hands during trading, a decline of 82% from the average session volume of 7,023,583 shares. The stock had previously closed at $7.19.

A number of other research firms have also weighed in on TDOC. Oppenheimer lowered their price objective on shares of Teladoc Health from $14.00 to $12.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. Bank of America lowered their target price on shares of Teladoc Health from $9.50 to $8.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Royal Bank of Canada boosted their price target on shares of Teladoc Health from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Friday, January 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of Teladoc Health in a report on Thursday. Finally, Jefferies Financial Group dropped their target price on Teladoc Health from $10.00 to $8.00 and set a “hold” rating on the stock in a research report on Monday, April 21st. Eleven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Teladoc Health has a consensus rating of “Hold” and an average target price of $9.81.

Insider Activity

In related news, insider Adam C. Vandervoort sold 11,011 shares of the company’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $8.42, for a total value of $92,712.62. Following the completion of the transaction, the insider now directly owns 64,308 shares in the company, valued at approximately $541,473.36. This represents a 14.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.58% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Teladoc Health by 5.9% in the 4th quarter. Vanguard Group Inc. now owns 18,463,155 shares of the health services provider’s stock worth $167,830,000 after buying an additional 1,029,829 shares during the period. Point72 Asset Management L.P. raised its stake in shares of Teladoc Health by 33.6% in the 4th quarter. Point72 Asset Management L.P. now owns 11,179,863 shares of the health services provider’s stock valued at $101,625,000 after acquiring an additional 2,813,568 shares during the period. Renaissance Technologies LLC raised its stake in shares of Teladoc Health by 15.5% in the 4th quarter. Renaissance Technologies LLC now owns 5,674,542 shares of the health services provider’s stock valued at $51,582,000 after acquiring an additional 763,265 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Teladoc Health by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 3,947,831 shares of the health services provider’s stock valued at $35,894,000 after acquiring an additional 22,664 shares in the last quarter. Finally, Maple Rock Capital Partners Inc. raised its position in Teladoc Health by 189.5% in the fourth quarter. Maple Rock Capital Partners Inc. now owns 3,561,000 shares of the health services provider’s stock valued at $32,369,000 after purchasing an additional 2,331,000 shares during the period. Institutional investors and hedge funds own 76.82% of the company’s stock.

Teladoc Health Stock Performance

The stock has a 50 day simple moving average of $8.02 and a 200 day simple moving average of $9.49. The company has a quick ratio of 1.69, a current ratio of 1.73 and a debt-to-equity ratio of 0.66. The company has a market cap of $1.24 billion, a price-to-earnings ratio of -1.23 and a beta of 1.73.

Teladoc Health (NYSE:TDOC) last released 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). The company had revenue of $640.49 million for the quarter, compared to analyst estimates of $639.44 million. Teladoc Health had a negative return on equity of 10.06% and a negative net margin of 37.91%. As a group, analysts predict that Teladoc Health, Inc. will post -1.16 EPS for the current year.

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.