Stock Traders Buy High Volume of Call Options on Teladoc Health (NYSE:TDOC)

Teladoc Health, Inc. (NYSE:TDOC) saw unusually large options trading activity on Tuesday. Stock traders bought 22,980 call options on the company. This is an increase of 69% compared to the average daily volume of 13,593 call options.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Barclays lifted their target price 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. Piper Sandler reissued an “overweight” rating and issued a $13.00 price objective (up previously from $11.00) on shares of Teladoc Health in a research note on Wednesday, December 4th. Jefferies Financial Group raised their target price on Teladoc Health from $8.00 to $10.00 and gave the company a “hold” rating in a research note on Tuesday, September 17th. Royal Bank of Canada upped their price target on shares of Teladoc Health from $9.00 to $10.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. Finally, Evercore ISI increased their price objective on shares of Teladoc Health from $8.00 to $9.00 and gave the stock an “in-line” rating in a report on Tuesday, October 8th. Fourteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Teladoc Health has an average rating of “Hold” and an average target price of $12.24.

Teladoc Health Stock Performance

Teladoc Health stock opened at $9.79 on Thursday. The company has a market cap of $1.69 billion, a PE ratio of -1.70 and a beta of 1.01. The company’s 50-day moving average is $9.94 and its two-hundred day moving average is $9.04. The company has a current ratio of 1.73, a quick ratio of 1.69 and a debt-to-equity ratio of 0.66. Teladoc Health has a 1 year low of $6.76 and a 1 year high of $22.16.

Teladoc Health (NYSE:TDOC) last announced its quarterly 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 the consensus estimate of $630.50 million. Teladoc Health had a negative net margin of 37.91% and a negative return on equity of 10.06%. Equities 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 Teladoc Health stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $11.93, for a total transaction of $28,500.77. Following the completion of the transaction, the insider now directly owns 2,890 shares of the company’s stock, valued at $34,477.70. This trade represents a 45.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.95% of the stock is owned by insiders.

Institutional Trading of Teladoc Health

A number of hedge funds have recently modified their holdings of TDOC. Versant Capital Management Inc raised its holdings in Teladoc Health by 313.8% during the 4th quarter. Versant Capital Management Inc now owns 3,219 shares of the health services provider’s stock worth $29,000 after buying an additional 2,441 shares during the period. Blue Trust Inc. raised its holdings in Teladoc Health by 84.5% during the 3rd quarter. Blue Trust Inc. now owns 4,048 shares of the health services provider’s stock worth $40,000 after buying an additional 1,854 shares during the period. Doheny Asset Management CA acquired a new stake in Teladoc Health during the 2nd quarter worth approximately $46,000. Benjamin F. Edwards & Company Inc. raised its holdings in Teladoc Health by 209.8% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 5,015 shares of the health services provider’s stock worth $49,000 after buying an additional 3,396 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. grew its stake in shares of Teladoc Health by 194.2% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,891 shares of the health services provider’s stock worth $67,000 after acquiring an additional 4,549 shares in the last quarter. 76.82% of the stock is currently owned by institutional investors and hedge funds.

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.