Teladoc Health (NYSE:TDOC) Shares Gap Up – Here’s What Happened

Teladoc Health, Inc. (NYSE:TDOCGet Free Report) shares gapped up prior to trading on Tuesday . The stock had previously closed at $9.70, but opened at $10.36. Teladoc Health shares last traded at $10.01, with a volume of 2,335,899 shares changing hands.

Wall Street Analyst Weigh In

TDOC has been the subject of several research reports. Barclays raised their price objective on shares of Teladoc Health from $10.00 to $12.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. TD Cowen dropped their price target on Teladoc Health from $9.00 to $8.00 and set a “hold” rating for the company in a report on Thursday, October 31st. Evercore ISI upped their price objective on Teladoc Health from $8.00 to $9.00 and gave the company an “in-line” rating in a report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Teladoc Health from $10.00 to $12.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Finally, 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 on the stock. Fourteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $12.24.

Get Our Latest Stock Report on Teladoc Health

Teladoc Health Stock Performance

The company has a 50 day simple moving average of $9.99 and a 200 day simple moving average of $9.03. 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 stock has a market cap of $1.61 billion, a price-to-earnings ratio of -1.62 and a beta of 1.01.

Teladoc Health (NYSE:TDOCGet Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The health services provider reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.10. Teladoc Health had a negative net margin of 37.91% and a negative return on equity of 10.06%. The business had revenue of $640.51 million during the quarter, compared to the consensus estimate of $630.50 million. As a group, equities research analysts forecast that Teladoc Health, Inc. will post -1.16 EPS for the current year.

Insider Activity

In other news, insider Carlos Nueno sold 2,389 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at $34,477.70. This represents a 45.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.95% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Teladoc Health

Hedge funds have recently added to or reduced their stakes in the business. Rubric Capital Management LP bought a new position in shares of Teladoc Health during the second quarter valued at $45,267,000. Point72 Asset Management L.P. increased its holdings in Teladoc Health by 221.9% in the second quarter. Point72 Asset Management L.P. now owns 5,303,123 shares of the health services provider’s stock valued at $51,865,000 after purchasing an additional 3,655,436 shares during the period. Clearline Capital LP raised its position in Teladoc Health by 395.6% during the 2nd quarter. Clearline Capital LP now owns 4,364,201 shares of the health services provider’s stock worth $42,682,000 after purchasing an additional 3,483,665 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in Teladoc Health during the 3rd quarter worth about $15,801,000. Finally, Maple Rock Capital Partners Inc. acquired a new position in Teladoc Health during the 3rd quarter worth about $11,291,000. 76.82% of the stock is currently owned by institutional investors and hedge funds.

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.

Featured Articles

Receive News & Ratings for Teladoc Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Teladoc Health and related companies with MarketBeat.com's FREE daily email newsletter.