Teladoc Health (NYSE:TDOC) Stock Price Down 5% – Here’s What Happened

Teladoc Health, Inc. (NYSE:TDOC)’s share price dropped 5% during trading on Wednesday . The company traded as low as $12.27 and last traded at $12.39. Approximately 4,408,114 shares changed hands during mid-day trading, a decline of 22% from the average daily volume of 5,644,407 shares. The stock had previously closed at $13.04.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Piper Sandler restated an “overweight” rating and issued a $13.00 target price (up from $11.00) on shares of Teladoc Health in a research note on Wednesday, December 4th. Oppenheimer lowered their price objective on shares of Teladoc Health from $14.00 to $12.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Teladoc Health from $10.00 to $12.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Barclays raised their price target on shares of Teladoc Health from $10.00 to $12.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Finally, The Goldman Sachs Group started coverage on Teladoc Health in a report on Friday, November 15th. They set a “buy” rating and a $14.00 price objective on the stock. Fourteen analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Teladoc Health presently has an average rating of “Hold” and an average target price of $12.08.

Teladoc Health Trading Down 3.9 %

The firm has a market capitalization of $2.16 billion, a price-to-earnings ratio of -2.18 and a beta of 1.05. The business’s fifty day moving average is $10.13 and its 200 day moving average is $9.20. The company has a quick ratio of 1.69, a current ratio of 1.73 and a debt-to-equity ratio of 0.66.

Insiders Place Their Bets

In other news, insider Carlos Nueno sold 2,389 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $11.93, for a total value of $28,500.77. Following the completion of the transaction, the insider now owns 2,890 shares in the company, valued at $34,477.70. This trade represents a 45.25 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.95% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Whipplewood Advisors LLC acquired a new stake in Teladoc Health during the 4th quarter valued at $29,000. Versant Capital Management Inc boosted its stake in Teladoc Health by 313.8% in the 4th quarter. Versant Capital Management Inc now owns 3,219 shares of the health services provider’s stock valued at $29,000 after purchasing an additional 2,441 shares during the period. Lindbrook Capital LLC grew its holdings in Teladoc Health by 78.9% in the 4th quarter. Lindbrook Capital LLC now owns 3,654 shares of the health services provider’s stock valued at $33,000 after buying an additional 1,612 shares in the last quarter. Blue Trust Inc. increased its position in Teladoc Health by 84.5% during 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 period. Finally, Generali Investments Management Co LLC acquired a new stake in shares of Teladoc Health during the fourth quarter worth $64,000. 76.82% of the stock is owned by institutional investors and hedge funds.

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.