Teladoc Health’s (TDOC) Overweight Rating Reiterated at Piper Sandler

Piper Sandler restated their overweight rating on shares of Teladoc Health (NYSE:TDOC) in a report issued on Wednesday morning,Benzinga reports. They currently have a $13.00 price target on the health services provider’s stock, up from their prior price target of $11.00.

TDOC has been the topic of a number of other research reports. JPMorgan Chase & Co. reduced their price target on Teladoc Health from $16.00 to $9.00 and set a “neutral” rating on the stock in a research report on Monday, August 26th. Evercore ISI increased their target price on shares of Teladoc Health from $8.00 to $9.00 and gave the company an “in-line” rating in a research report on Tuesday, October 8th. Jefferies Financial Group boosted their price target on shares of Teladoc Health from $8.00 to $10.00 and gave the stock a “hold” rating in a research report on Tuesday, September 17th. Cantor Fitzgerald reiterated an “overweight” rating and set a $10.00 price objective on shares of Teladoc Health in a research report on Tuesday, August 20th. Finally, Barclays lifted their target price on shares of Teladoc Health from $10.00 to $12.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Fourteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $12.24.

Teladoc Health Stock Up 2.0 %

NYSE:TDOC opened at $11.01 on Wednesday. Teladoc Health has a one year low of $6.76 and a one year high of $22.54. 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 company has a market cap of $1.89 billion, a PE ratio of -1.91 and a beta of 0.97. The firm’s 50 day simple moving average is $9.63 and its 200 day simple moving average is $9.22.

Teladoc Health (NYSE:TDOC) last issued its quarterly earnings results on Wednesday, October 30th. The health services provider reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $640.51 million for the quarter, compared to analyst estimates of $630.50 million. On average, research analysts anticipate that Teladoc Health will post -1.16 earnings per share for the current year.

Insider Transactions at Teladoc Health

In related news, insider Carlos Nueno sold 2,389 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $11.93, for a total value of $28,500.77. Following the transaction, the insider now owns 2,890 shares of the company’s stock, valued at approximately $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 can be accessed through the SEC website. Also, Director Thomas Mckinley acquired 4,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were bought at an average cost of $7.69 per share, with a total value of $30,760.00. Following the completion of the acquisition, the director now directly owns 39,077 shares in the company, valued at approximately $300,502.13. This represents a 11.40 % increase in their position. The disclosure for this purchase can be found here. 0.95% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Rubric Capital Management LP purchased a new stake in Teladoc Health in the 2nd quarter valued at $45,267,000. Point72 Asset Management L.P. boosted its holdings in Teladoc Health by 221.9% during the 2nd quarter. Point72 Asset Management L.P. now owns 5,303,123 shares of the health services provider’s stock worth $51,865,000 after acquiring an additional 3,655,436 shares during the last quarter. Clearline Capital LP grew its stake in shares of Teladoc Health by 395.6% in the 2nd quarter. Clearline Capital LP now owns 4,364,201 shares of the health services provider’s stock worth $42,682,000 after acquiring an additional 3,483,665 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Teladoc Health in the third quarter valued at about $15,801,000. Finally, Maple Rock Capital Partners Inc. purchased a new position in Teladoc Health during the third quarter worth about $11,291,000. Hedge funds and other institutional investors own 76.82% of the company’s stock.

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.