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

Teladoc Health, Inc. (NYSE:TDOC) gapped up before the market opened on Thursday . The stock had previously closed at $9.03, but opened at $9.25. Teladoc Health shares last traded at $9.59, with a volume of 2,357,100 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. The Goldman Sachs Group decreased their price objective on Teladoc Health from $16.00 to $13.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Bank of America upped their price objective on Teladoc Health from $11.50 to $13.50 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Piper Sandler dropped their price objective on shares of Teladoc Health from $13.00 to $12.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. Oppenheimer decreased their target price on shares of Teladoc Health from $14.00 to $12.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Finally, Needham & Company LLC restated a “hold” rating on shares of Teladoc Health in a research report on Thursday, February 27th. Eleven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $11.26.

Teladoc Health Price Performance

The company has a debt-to-equity ratio of 0.66, a current ratio of 1.73 and a quick ratio of 1.69. The stock’s fifty day moving average is $10.62 and its 200-day moving average is $9.61. The stock has a market cap of $1.59 billion, a PE ratio of -1.59 and a beta of 1.27.

Teladoc Health (NYSE:TDOC) last posted its earnings results on Wednesday, February 26th. The health services provider reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.07). The business had revenue of $640.49 million during the quarter, compared to analysts’ expectations of $639.44 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 anticipate that Teladoc Health, Inc. will post -1.16 EPS for the current year.

Hedge Funds Weigh In On Teladoc Health

Large investors have recently made changes to their positions in the stock. Versant Capital Management Inc raised its position in Teladoc Health by 313.8% in the fourth 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. Whipplewood Advisors LLC purchased a new stake in shares of Teladoc Health in the 4th quarter valued at $29,000. Lindbrook Capital LLC lifted its stake in Teladoc Health by 78.9% during the 4th quarter. Lindbrook Capital LLC now owns 3,654 shares of the health services provider’s stock worth $33,000 after acquiring an additional 1,612 shares in the last quarter. Sterling Capital Management LLC boosted its holdings in Teladoc Health by 776.7% during the 4th quarter. Sterling Capital Management LLC now owns 4,629 shares of the health services provider’s stock valued at $42,000 after acquiring an additional 4,101 shares during the period. Finally, Pilgrim Partners Asia Pte Ltd acquired a new position in Teladoc Health in the 4th quarter valued at about $60,000. 76.82% of the stock is currently 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.