Teladoc Health (NYSE:TDOC) Shares Up 6.6% – What’s Next?

Teladoc Health, Inc. (NYSE:TDOC) shares rose 6.6% during mid-day trading on Wednesday . The company traded as high as $9.94 and last traded at $10.13. Approximately 696,211 shares changed hands during trading, a decline of 82% from the average daily volume of 3,849,119 shares. The stock had previously closed at $9.50.

Analyst Ratings Changes

A number of research firms have weighed in on TDOC. Deutsche Bank Aktiengesellschaft lifted their target price on Teladoc Health from $10.00 to $12.00 and gave the company a “hold” rating in a report on Friday, November 1st. Oppenheimer decreased their target price on shares of Teladoc Health from $14.00 to $12.00 and set an “outperform” rating on the stock in a report on Friday. The Goldman Sachs Group initiated coverage on shares of Teladoc Health in a report on Friday, November 15th. They issued a “buy” rating and a $14.00 price target for the company. Barclays upped their price target on shares of Teladoc Health from $10.00 to $12.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Finally, Piper Sandler reissued an “overweight” rating and set a $13.00 price objective (up previously from $11.00) on shares of Teladoc Health in a research note on Wednesday, December 4th. Fourteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $12.08.

Teladoc Health Stock Performance

The company has a market cap of $1.73 billion, a P/E ratio of -1.74 and a beta of 1.01. The company’s fifty day moving average is $9.99 and its 200 day moving average is $9.04. The company has a current ratio of 1.73, a quick ratio of 1.69 and a debt-to-equity ratio of 0.66.

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, beating the consensus estimate of ($0.29) by $0.10. The business had revenue of $640.51 million during the quarter, compared to analyst estimates of $630.50 million. Teladoc Health had a negative net margin of 37.91% and a negative return on equity of 10.06%. As a group, equities analysts predict that Teladoc Health, Inc. will post -1.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Teladoc Health news, insider Carlos Nueno sold 2,389 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $11.93, for a total transaction of $28,500.77. Following the completion of the sale, the insider now owns 2,890 shares of the company’s stock, valued at $34,477.70. This represents a 45.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.95% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Teladoc Health

A number of hedge funds have recently modified their holdings of the company. Point72 Asset Management L.P. raised its position in Teladoc Health by 57.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 8,366,295 shares of the health services provider’s stock valued at $76,803,000 after purchasing an additional 3,063,172 shares during the last quarter. Clearline Capital LP increased its stake in shares of Teladoc Health by 395.6% during the second quarter. Clearline Capital LP now owns 4,364,201 shares of the health services provider’s stock valued at $42,682,000 after buying an additional 3,483,665 shares during the period. Geode Capital Management LLC raised its holdings in shares of Teladoc Health by 1.5% during the third quarter. Geode Capital Management LLC now owns 3,925,167 shares of the health services provider’s stock valued at $36,042,000 after acquiring an additional 56,864 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in Teladoc Health in the third quarter worth $15,801,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Teladoc Health by 15.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,701,161 shares of the health services provider’s stock valued at $15,617,000 after acquiring an additional 228,004 shares in the last quarter. Hedge funds and other institutional investors own 76.82% of the company’s stock.

Teladoc Health Company Profile

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.