Q3 2024 Earnings Forecast for Teladoc Health, Inc. (NYSE:TDOC) Issued By Leerink Partnrs

Teladoc Health, Inc. (NYSE:TDOC) – Stock analysts at Leerink Partnrs reduced their Q3 2024 earnings per share estimates for shares of Teladoc Health in a report issued on Sunday, June 16th. Leerink Partnrs analyst M. Cherny now anticipates that the health services provider will post earnings of ($0.17) per share for the quarter, down from their previous estimate of ($0.15). Leerink Partnrs currently has a “Market Perform” rating on the stock. The consensus estimate for Teladoc Health’s current full-year earnings is ($1.05) per share. Leerink Partnrs also issued estimates for Teladoc Health’s Q4 2024 earnings at ($0.05) EPS, FY2024 earnings at ($1.07) EPS, FY2025 earnings at ($0.82) EPS, FY2026 earnings at ($0.63) EPS and FY2027 earnings at ($0.46) EPS.

A number of other research firms have also issued reports on TDOC. Royal Bank of Canada reduced their target price on Teladoc Health from $25.00 to $18.00 and set an “outperform” rating on the stock in a research note on Friday, April 26th. Oppenheimer reduced their price target on Teladoc Health from $26.00 to $21.00 and set an “outperform” rating on the stock in a research note on Friday, April 26th. DA Davidson reduced their price target on Teladoc Health from $22.00 to $18.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 21st. Citigroup reduced their price target on Teladoc Health from $21.00 to $19.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 21st. Finally, Needham & Company LLC reissued a “hold” rating on shares of Teladoc Health in a research note on Friday, April 26th. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $18.22.

Teladoc Health Stock Performance

TDOC opened at $10.09 on Wednesday. The stock has a market cap of $1.71 billion, a P/E ratio of -7.16 and a beta of 0.99. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.82 and a quick ratio of 3.74. The stock’s 50 day simple moving average is $12.08 and its 200 day simple moving average is $16.19. Teladoc Health has a 1-year low of $9.72 and a 1-year high of $30.41.

Teladoc Health (NYSE:TDOC) last issued its quarterly earnings results on Thursday, April 25th. The health services provider reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by ($0.02). Teladoc Health had a negative net margin of 8.90% and a negative return on equity of 10.13%. The company had revenue of $646.13 million during the quarter, compared to analyst estimates of $637.31 million. During the same quarter last year, the firm earned ($0.37) EPS. The business’s revenue was up 2.7% on a year-over-year basis.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in TDOC. Charles Schwab Investment Management Inc. raised its holdings in shares of Teladoc Health by 37.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,549,585 shares of the health services provider’s stock worth $28,807,000 after acquiring an additional 418,909 shares during the period. Deutsche Bank AG increased its stake in Teladoc Health by 12.4% in the 3rd quarter. Deutsche Bank AG now owns 301,147 shares of the health services provider’s stock valued at $5,598,000 after buying an additional 33,287 shares during the last quarter. Rafferty Asset Management LLC grew its position in shares of Teladoc Health by 24.2% in the 3rd quarter. Rafferty Asset Management LLC now owns 43,522 shares of the health services provider’s stock valued at $809,000 after acquiring an additional 8,479 shares during the period. QRG Capital Management Inc. bought a new stake in shares of Teladoc Health during the 3rd quarter worth about $392,000. Finally, Mirabella Financial Services LLP bought a new stake in shares of Teladoc Health during the 3rd quarter worth about $200,000. Institutional investors and hedge funds own 76.82% of the company’s stock.

Insider Activity

In related news, COO Michael Willem Waters sold 5,793 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $12.69, for a total transaction of $73,513.17. Following the transaction, the chief operating officer now owns 64,881 shares in the company, valued at $823,339.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Teladoc Health news, COO Michael Willem Waters sold 5,793 shares of Teladoc Health stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $12.69, for a total value of $73,513.17. Following the transaction, the chief operating officer now owns 64,881 shares in the company, valued at $823,339.89. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Laizer Kornwasser sold 10,411 shares of Teladoc Health stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $12.69, for a total transaction of $132,115.59. Following the completion of the transaction, the insider now owns 86,070 shares in the company, valued at approximately $1,092,228.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 39,650 shares of company stock valued at $505,863. Insiders own 0.95% 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.