Teladoc Health, Inc. (NYSE:TDOC) Short Interest Update

Teladoc Health, Inc. (NYSE:TDOC) was the target of a significant decrease in short interest in the month of December. As of December 15th, there was short interest totalling 22,710,000 shares, a decrease of 13.5% from the November 30th total of 26,240,000 shares. Based on an average daily trading volume, of 5,360,000 shares, the days-to-cover ratio is currently 4.2 days.

Teladoc Health Stock Down 1.5 %

TDOC opened at $9.31 on Tuesday. The company has a market capitalization of $1.60 billion, a P/E ratio of -1.61 and a beta of 0.97. 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 firm’s fifty day moving average price is $9.84 and its two-hundred day moving average price is $9.06. Teladoc Health has a fifty-two week low of $6.76 and a fifty-two week high of $22.54.

Teladoc Health (NYSE:TDOC) last posted its earnings results on Wednesday, October 30th. The health services provider reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.10. The business had revenue of $640.51 million for the quarter, compared to analysts’ expectations of $630.50 million. Teladoc Health had a negative net margin of 37.91% and a negative return on equity of 10.06%. On average, analysts anticipate that Teladoc Health will post -1.16 EPS for the current year.

Insider Activity

In other Teladoc Health news, insider Carlos Nueno sold 2,389 shares of the company’s stock in a transaction 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 transaction, the insider now owns 2,890 shares of the company’s stock, valued at approximately $34,477.70. This represents a 45.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.95% of the company’s stock.

Institutional Investors Weigh In On Teladoc Health

A number of hedge funds have recently made changes to their positions in TDOC. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Teladoc Health by 15.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,701,161 shares of the health services provider’s stock valued at $15,617,000 after buying an additional 228,004 shares in the last quarter. Clearline Capital LP increased its position in 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 valued at $42,682,000 after acquiring an additional 3,483,665 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Teladoc Health by 195.3% in the second quarter. The Manufacturers Life Insurance Company now owns 95,307 shares of the health services provider’s stock worth $932,000 after acquiring an additional 63,028 shares during the last quarter. Jennison Associates LLC acquired a new position in shares of Teladoc Health during the third quarter worth approximately $1,544,000. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Teladoc Health by 477.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 370,093 shares of the health services provider’s stock valued at $3,397,000 after purchasing an additional 305,961 shares during the last quarter. Institutional investors and hedge funds own 76.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft upped their target price on Teladoc Health from $10.00 to $12.00 and gave the company a “hold” rating in a report on Friday, November 1st. Piper Sandler reiterated an “overweight” rating and issued a $13.00 target price (up from $11.00) on shares of Teladoc Health in a report on Wednesday, December 4th. Jefferies Financial Group boosted their price target on shares of Teladoc Health from $8.00 to $10.00 and gave the company a “hold” rating in a report on Tuesday, September 17th. The Goldman Sachs Group initiated coverage on shares of Teladoc Health in a research note on Friday, November 15th. They issued a “buy” rating and a $14.00 price objective for the company. Finally, TD Cowen reduced their target price on Teladoc Health from $9.00 to $8.00 and set a “hold” rating for the company in a report on Thursday, October 31st. Fourteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Teladoc Health currently has an average rating of “Hold” and an average price target of $12.24.

About Teladoc Health

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.