Teladoc Health (NYSE:TDOC) Stock Price Down 5.4% – Here’s Why

Teladoc Health, Inc. (NYSE:TDOC)’s share price fell 5.4% during trading on Tuesday . The company traded as low as $10.05 and last traded at $10.10. 1,691,144 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 5,515,436 shares. The stock had previously closed at $10.68.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 price objective on shares of Teladoc Health in a research report on Tuesday, August 20th. Piper Sandler reiterated an “overweight” rating and set a $13.00 price target (up from $11.00) on shares of Teladoc Health in a report on Wednesday, December 4th. The Goldman Sachs Group initiated coverage on shares of Teladoc Health in a research report on Friday, November 15th. They set a “buy” rating and a $14.00 price target for the company. Evercore ISI boosted their price objective on shares of Teladoc Health from $8.00 to $9.00 and gave the company an “in-line” rating in a research report on Tuesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Teladoc Health from $10.00 to $12.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Fourteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Teladoc Health presently has an average rating of “Hold” and an average target price of $12.24.

Teladoc Health Stock Performance

The business has a 50-day moving average price of $9.83 and a 200 day moving average price of $9.15. The stock has a market capitalization of $1.73 billion, a P/E ratio of -1.74 and a beta of 0.97. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.69 and a current ratio of 1.73.

Teladoc Health (NYSE:TDOC) last posted its quarterly earnings results on Wednesday, October 30th. The health services provider reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.10. Teladoc Health had a negative return on equity of 10.06% and a negative net margin of 37.91%. The firm had revenue of $640.51 million during the quarter, compared to analyst estimates of $630.50 million. As a group, sell-side analysts forecast that Teladoc Health, Inc. will post -1.16 EPS for the current fiscal year.

Insider Transactions at Teladoc Health

In related news, insider Carlos Nueno sold 2,389 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $11.93, for a total transaction of $28,500.77. Following the sale, the insider now directly owns 2,890 shares of the company’s stock, valued at $34,477.70. This trade represents a 45.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.95% of the company’s stock.

Hedge Funds Weigh In On Teladoc Health

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Signaturefd LLC raised its holdings in shares of Teladoc Health by 148.7% during the second quarter. Signaturefd LLC now owns 2,868 shares of the health services provider’s stock valued at $28,000 after purchasing an additional 1,715 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of Teladoc Health during the 2nd quarter valued at $29,000. Blue Trust Inc. boosted its stake in shares of Teladoc Health by 84.5% in the 3rd quarter. Blue Trust Inc. now owns 4,048 shares of the health services provider’s stock worth $40,000 after buying an additional 1,854 shares during the last quarter. Doheny Asset Management CA bought a new stake in shares of Teladoc Health in the second quarter worth $46,000. Finally, Benjamin F. Edwards & Company Inc. increased its position in Teladoc Health by 209.8% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 5,015 shares of the health services provider’s stock valued at $49,000 after acquiring an additional 3,396 shares during the last quarter. Institutional investors own 76.82% of the company’s stock.

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.