Oppenheimer Cuts Teladoc Health (NYSE:TDOC) Price Target to $12.00

Teladoc Health (NYSE:TDOC) had its price objective lowered by Oppenheimer from $14.00 to $12.00 in a research note published on Friday,Benzinga reports. Oppenheimer currently has an outperform rating on the health services provider’s stock.

Several other equities research analysts also recently issued reports on the company. Royal Bank of Canada raised their price target on Teladoc Health from $9.00 to $10.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. Evercore ISI raised their price objective on shares of Teladoc Health from $8.00 to $9.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 8th. Piper Sandler reissued an “overweight” rating and issued a $13.00 price target (up from $11.00) on shares of Teladoc Health in a report on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Teladoc Health from $10.00 to $12.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Finally, The Goldman Sachs Group initiated coverage on Teladoc Health in a report on Friday, November 15th. They issued a “buy” rating and a $14.00 price target for the company. Fourteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Teladoc Health presently has an average rating of “Hold” and an average price target of $12.08.

Teladoc Health Stock Down 0.8 %

Shares of Teladoc Health stock opened at $10.06 on Friday. The firm has a market cap of $1.73 billion, a price-to-earnings ratio of -1.74 and a beta of 1.01. The stock has a 50-day simple moving average of $10.01 and a 200-day simple moving average of $9.04. Teladoc Health has a 52-week low of $6.76 and a 52-week high of $21.74. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.73 and a quick ratio of 1.69.

Teladoc Health (NYSE:TDOC) last announced its quarterly earnings results on Wednesday, October 30th. The health services provider reported ($0.19) EPS for the quarter, topping the consensus estimate 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, equities research analysts expect that Teladoc Health will post -1.16 earnings per share for the current fiscal year.

Insider Activity at Teladoc Health

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 transaction of $28,500.77. Following the completion of the sale, the insider now directly owns 2,890 shares in the company, valued at $34,477.70. This represents a 45.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.95% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Clearline Capital LP increased its stake in shares of Teladoc Health by 395.6% in the second quarter. Clearline Capital LP now owns 4,364,201 shares of the health services provider’s stock valued at $42,682,000 after buying an additional 3,483,665 shares during the period. Point72 Asset Management L.P. lifted its holdings in Teladoc Health by 57.8% in the third 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 buying an additional 3,063,172 shares during the period. Assenagon Asset Management S.A. bought a new stake in Teladoc Health during the third quarter valued at $15,801,000. Maple Rock Capital Partners Inc. bought a new position in shares of Teladoc Health in the 3rd quarter worth about $11,291,000. Finally, Invenomic Capital Management LP lifted its stake in shares of Teladoc Health by 155.2% in the 3rd quarter. Invenomic Capital Management LP now owns 1,474,337 shares of the health services provider’s stock valued at $13,534,000 after purchasing an additional 896,552 shares during the period. Institutional investors own 76.82% of the company’s stock.

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.