Brokerages Set Teladoc Health, Inc. (NYSE:TDOC) Target Price at $11.97

Shares of Teladoc Health, Inc. (NYSE:TDOC) have been given a consensus rating of “Hold” by the twenty-one ratings firms that are currently covering the firm, MarketBeat Ratings reports. Fourteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $12.08.

Several equities research analysts have recently weighed in on TDOC shares. TD Cowen cut their target price on Teladoc Health from $9.00 to $8.00 and set a “hold” rating on the stock in a research report on Thursday, October 31st. Jefferies Financial Group increased their price target on Teladoc Health from $8.00 to $10.00 and gave the stock a “hold” rating in a report on Tuesday, September 17th. Truist Financial dropped their target price on Teladoc Health from $15.00 to $10.00 and set a “hold” rating on the stock in a research report on Friday, August 2nd. Barclays raised their price objective on shares of Teladoc Health from $10.00 to $12.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Finally, The Goldman Sachs Group initiated coverage on shares of Teladoc Health in a research report on Friday. They set a “buy” rating and a $14.00 target price on the stock.

Insider Transactions at Teladoc Health

In related news, Director Thomas Mckinley purchased 4,000 shares of Teladoc Health stock in a transaction dated Thursday, September 12th. The shares were acquired at an average cost of $7.69 per share, for a total transaction of $30,760.00. Following the transaction, the director now directly owns 39,077 shares of the company’s stock, valued at approximately $300,502.13. This trade represents a 11.40 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Mala Murthy sold 8,750 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $7.16, for a total transaction of $62,650.00. Following the completion of the sale, the chief financial officer now owns 85,767 shares in the company, valued at $614,091.72. This represents a 9.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,051 shares of company stock worth $143,565 over the last 90 days. 0.95% of the stock is owned by insiders.

Hedge Funds Weigh In On Teladoc Health

Large investors have recently bought and sold shares of the company. Point72 Asset Management L.P. raised its holdings in shares of Teladoc Health by 57.8% in 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 period. Rubric Capital Management LP bought a new stake in Teladoc Health in the 2nd quarter valued at $45,267,000. Clearline Capital LP lifted its holdings 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 valued at $42,682,000 after purchasing an additional 3,483,665 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in Teladoc Health during the third quarter worth $15,801,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in Teladoc Health by 15.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,701,161 shares of the health services provider’s stock worth $15,617,000 after acquiring an additional 228,004 shares during the last quarter. Institutional investors and hedge funds own 76.82% of the company’s stock.

Teladoc Health Trading Up 2.6 %

TDOC opened at $9.20 on Wednesday. Teladoc Health has a 52 week low of $6.76 and a 52 week high of $22.54. 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 business has a fifty day simple moving average of $8.89 and a 200-day simple moving average of $9.41. The firm has a market cap of $1.58 billion, a P/E ratio of -1.59 and a beta of 0.90.

Teladoc Health (NYSE:TDOC) last released its earnings results on Wednesday, October 30th. The health services provider reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.10. The company had revenue of $640.51 million during the quarter, compared to the consensus estimate of $630.50 million. Teladoc Health had a negative return on equity of 10.06% and a negative net margin of 37.91%. On average, equities analysts expect that Teladoc Health will post -1.19 earnings per share for the current year.

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.