Teladoc Health (NYSE:TDOC) Trading Down 5.8%

Teladoc Health, Inc. (NYSE:TDOC) shares traded down 5.8% during trading on Friday . The company traded as low as $8.65 and last traded at $8.65. 2,295,717 shares traded hands during mid-day trading, a decline of 58% from the average session volume of 5,526,234 shares. The stock had previously closed at $9.18.

Analyst Ratings Changes

TDOC has been the topic of a number of research analyst reports. DA Davidson lowered their target price on Teladoc Health from $12.00 to $8.00 and set a “neutral” rating on the stock in a report on Thursday, August 1st. Piper Sandler reduced their price objective on Teladoc Health from $25.00 to $10.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. TD Cowen dropped their price objective on shares of Teladoc Health from $15.00 to $9.00 and set a “hold” rating on the stock in a research note on Thursday, August 1st. Cantor Fitzgerald restated an “overweight” rating and set a $10.00 price target on shares of Teladoc Health in a report on Tuesday, August 20th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Teladoc Health in a research report on Thursday, August 1st. Fifteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Teladoc Health has a consensus rating of “Hold” and a consensus price target of $12.31.

Teladoc Health Trading Down 6.4 %

The company’s 50 day moving average is $8.05 and its 200 day moving average is $10.95. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of -6.17 and a beta of 0.90. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.62 and a current ratio of 1.66.

Teladoc Health (NYSE:TDOC) last posted its earnings results on Wednesday, July 31st. The health services provider reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.36) by $0.08. The business had revenue of $642.44 million during the quarter, compared to the consensus estimate of $649.34 million. Teladoc Health had a negative return on equity of 10.25% and a negative net margin of 38.54%. On average, research analysts forecast that Teladoc Health, Inc. will post -1.18 EPS for the current fiscal year.

Insider Transactions at Teladoc Health

In other news, Director Thomas Mckinley acquired 4,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were purchased at an average cost of $7.69 per share, with a total value of $30,760.00. Following the completion of the purchase, the director now owns 39,077 shares of the company’s stock, valued at $300,502.13. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Thomas Mckinley purchased 4,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was acquired at an average price of $7.69 per share, with a total value of $30,760.00. Following the completion of the acquisition, the director now directly owns 39,077 shares in the company, valued at approximately $300,502.13. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Vidya Raman-Tangella sold 3,857 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $8.14, for a total value of $31,395.98. Following the transaction, the insider now directly owns 33,667 shares in the company, valued at approximately $274,049.38. The disclosure for this sale can be found here. In the last quarter, insiders have sold 57,819 shares of company stock valued at $442,204. 0.95% of the stock is owned by insiders.

Hedge Funds Weigh In On Teladoc Health

Several large investors have recently bought and sold shares of the business. Rubric Capital Management LP acquired a new position in Teladoc Health in the second quarter valued at about $45,267,000. Point72 Asset Management L.P. increased its stake in Teladoc Health by 221.9% in the second quarter. Point72 Asset Management L.P. now owns 5,303,123 shares of the health services provider’s stock valued at $51,865,000 after purchasing an additional 3,655,436 shares in the last quarter. Clearline Capital LP raised its holdings in 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 worth $42,682,000 after purchasing an additional 3,483,665 shares during the period. Vanguard Group Inc. boosted its position in shares of Teladoc Health by 11.8% during the fourth quarter. Vanguard Group Inc. now owns 17,515,127 shares of the health services provider’s stock worth $377,451,000 after purchasing an additional 1,855,480 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Teladoc Health by 25.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,834,422 shares of the health services provider’s stock valued at $82,636,000 after buying an additional 767,999 shares during the period. 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.