Teladoc Health (NYSE:TDOC) Given New $8.00 Price Target at Bank of America

Teladoc Health (NYSE:TDOC) had its price target decreased by Bank of America from $9.50 to $8.00 in a report released on Friday morning,Benzinga reports. Bank of America currently has a neutral rating on the health services provider’s stock.

A number of other research analysts have also recently commented on the company. Needham & Company LLC restated a “hold” rating on shares of Teladoc Health in a research note on Thursday, February 27th. Piper Sandler decreased their price target on Teladoc Health from $13.00 to $12.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. Oppenheimer dropped their price objective on shares of Teladoc Health from $14.00 to $12.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Royal Bank of Canada raised their price target on shares of Teladoc Health from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Friday, January 24th. Finally, The Goldman Sachs Group cut their price objective on shares of Teladoc Health from $16.00 to $13.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. Eleven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $10.94.

Teladoc Health Stock Up 0.2 %

Shares of NYSE:TDOC opened at $7.26 on Friday. Teladoc Health has a 1 year low of $6.61 and a 1 year high of $15.21. The stock has a 50-day simple moving average of $9.73 and a 200-day simple moving average of $9.70. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.69 and a current ratio of 1.73. The stock has a market capitalization of $1.27 billion, a P/E ratio of -1.26 and a beta of 1.73.

Teladoc Health (NYSE:TDOC) last released its quarterly earnings data on Wednesday, February 26th. The health services provider reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.07). Teladoc Health had a negative return on equity of 10.06% and a negative net margin of 37.91%. The business had revenue of $640.49 million for the quarter, compared to analysts’ expectations of $639.44 million. Equities analysts forecast that Teladoc Health will post -1.16 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Adam C. Vandervoort sold 11,011 shares of the stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $8.42, for a total transaction of $92,712.62. Following the sale, the insider now owns 64,308 shares in the company, valued at $541,473.36. This represents a 14.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.95% of the stock is currently owned by company insiders.

Institutional Trading of Teladoc Health

A number of institutional investors and hedge funds have recently made changes to their positions in TDOC. Vanguard Group Inc. increased its position in Teladoc Health by 5.9% in the fourth quarter. Vanguard Group Inc. now owns 18,463,155 shares of the health services provider’s stock worth $167,830,000 after buying an additional 1,029,829 shares during the period. Point72 Asset Management L.P. increased its stake in shares of Teladoc Health by 33.6% in the fourth quarter. Point72 Asset Management L.P. now owns 11,179,863 shares of the health services provider’s stock valued at $101,625,000 after purchasing an additional 2,813,568 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Teladoc Health by 15.5% during the fourth quarter. Renaissance Technologies LLC now owns 5,674,542 shares of the health services provider’s stock valued at $51,582,000 after buying an additional 763,265 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Teladoc Health by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 3,947,831 shares of the health services provider’s stock worth $35,894,000 after buying an additional 22,664 shares during the period. Finally, Maple Rock Capital Partners Inc. grew its holdings in Teladoc Health by 189.5% in the 4th quarter. Maple Rock Capital Partners Inc. now owns 3,561,000 shares of the health services provider’s stock worth $32,369,000 after buying an additional 2,331,000 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.