Teladoc Health (NYSE:TDOC) PT Lowered to $30.00

Posted by Defense World Staff on Oct 27th, 2023

Teladoc Health (NYSE:TDOC – Get Free Report) had its price objective decreased by equities researchers at Royal Bank of Canada from $35.00 to $30.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the health services provider’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 86.45% from the stock’s previous close.

Other analysts have also recently issued reports about the company. Citigroup dropped their price target on Teladoc Health from $29.00 to $21.00 and set a “neutral” rating on the stock in a research report on Friday, October 20th. StockNews.com initiated coverage on Teladoc Health in a research report on Thursday, October 5th. They set a “sell” rating for the company. Evercore ISI reduced their price objective on Teladoc Health from $25.00 to $19.00 in a research report on Wednesday, October 11th. Oppenheimer reduced their price objective on Teladoc Health from $35.00 to $26.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, Truist Financial reiterated a “hold” rating and set a $28.00 price objective on shares of Teladoc Health in a research report on Monday, September 25th. Nine equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Teladoc Health has an average rating of “Hold” and an average price target of $28.27.

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Teladoc Health Stock Down 7.6 %

Shares of Teladoc Health stock opened at $16.09 on Wednesday. The company has a current ratio of 3.45, a quick ratio of 3.36 and a debt-to-equity ratio of 0.67. The business’s 50 day simple moving average is $20.33 and its 200-day simple moving average is $23.43. The stock has a market capitalization of $2.65 billion, a price-to-earnings ratio of -0.65 and a beta of 1.14. Teladoc Health has a twelve month low of $16.02 and a twelve month high of $34.73.

Teladoc Health (NYSE:TDOC – Get Free Report) last announced its quarterly earnings results on Tuesday, October 24th. The health services provider reported ($0.35) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.02. The business had revenue of $660.24 million for the quarter, compared to analysts’ expectations of $662.71 million. Teladoc Health had a negative return on equity of 9.60% and a negative net margin of 155.12%. Equities research analysts forecast that Teladoc Health will post -1.36 earnings per share for the current year.

Insider Transactions at Teladoc Health

In other news, CFO Mala Murthy sold 3,221 shares of Teladoc Health stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $22.89, for a total value of $73,728.69. Following the transaction, the chief financial officer now directly owns 46,907 shares of the company’s stock, valued at $1,073,701.23. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 9,288 shares of company stock valued at $205,365 over the last ninety days. Corporate insiders own 1.63% of the company’s stock.

Institutional Trading of Teladoc Health

A number of hedge funds have recently made changes to their positions in the stock. National Bank of Canada FI lifted its position in shares of Teladoc Health by 4.8% in the second quarter. National Bank of Canada FI now owns 8,503 shares of the health services provider’s stock worth $215,000 after purchasing an additional 387 shares in the last quarter. Forum Financial Management LP increased its holdings in Teladoc Health by 14.4% in the first quarter. Forum Financial Management LP now owns 3,094 shares of the health services provider’s stock worth $223,000 after buying an additional 390 shares during the last quarter. Treasurer of the State of North Carolina increased its holdings in Teladoc Health by 0.7% in the first quarter. Treasurer of the State of North Carolina now owns 70,207 shares of the health services provider’s stock worth $1,818,000 after buying an additional 500 shares during the last quarter. Canada Pension Plan Investment Board raised its position in Teladoc Health by 21.6% during the first quarter. Canada Pension Plan Investment Board now owns 2,900 shares of the health services provider’s stock valued at $209,000 after acquiring an additional 515 shares in the last quarter. Finally, Mariner LLC raised its position in Teladoc Health by 2.7% during the fourth quarter. Mariner LLC now owns 19,877 shares of the health services provider’s stock valued at $470,000 after acquiring an additional 525 shares in the last quarter. 77.07% of the stock is owned by hedge funds and other institutional investors.

About Teladoc Health

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Teladoc Health, Inc provides virtual healthcare services in the United States and internationally. The company operates through two segments, 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.