Evercore ISI Raises Teladoc Health (NYSE:TDOC) Price Target to $9.00

Teladoc Health (NYSE:TDOC) had its price target lifted by Evercore ISI from $8.00 to $9.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has an “in-line” rating on the health services provider’s stock. Evercore ISI’s price target would suggest a potential upside of 3.09% from the stock’s previous close.

Several other equities analysts have also recently commented on the stock. DA Davidson reduced their price objective on shares of Teladoc Health from $12.00 to $8.00 and set a “neutral” rating for the company in a research note on Thursday, August 1st. Needham & Company LLC restated a “hold” rating on shares of Teladoc Health in a research report on Thursday, August 1st. Oppenheimer lowered their price objective on Teladoc Health from $21.00 to $17.00 and set an “outperform” rating on the stock in a research report on Thursday, August 1st. Piper Sandler reduced their target price on Teladoc Health from $25.00 to $10.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Teladoc Health from $15.00 to $10.00 and set a “hold” rating on the stock in a research note on Friday, August 2nd. Fifteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $12.25.

Teladoc Health Stock Performance

Shares of NYSE:TDOC traded up $0.09 during trading on Tuesday, hitting $8.73. 1,293,552 shares of the company were exchanged, compared to its average volume of 5,484,233. Teladoc Health has a 52-week low of $6.76 and a 52-week high of $22.54. The stock has a 50 day moving average of $7.88 and a 200 day moving average of $10.36. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.66 and a quick ratio of 1.62. The company has a market cap of $1.48 billion, a PE ratio of -6.19 and a beta of 0.91.

Teladoc Health (NYSE:TDOC) last issued its quarterly earnings data on Wednesday, July 31st. The health services provider reported ($0.28) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.08. The business had revenue of $642.44 million for the quarter, compared to analysts’ expectations of $649.34 million. Teladoc Health had a negative return on equity of 10.25% and a negative net margin of 38.54%. As a group, equities research analysts predict that Teladoc Health will post -1.18 EPS for the current year.

Insider Activity

In other news, Director Thomas Mckinley bought 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were bought 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 directly owns 39,077 shares in the company, valued at $300,502.13. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. In other Teladoc Health news, CMO Stephany Verstraete sold 15,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $7.60, for a total value of $114,000.00. Following the completion of the sale, the chief marketing officer now owns 45,158 shares in the company, valued at approximately $343,200.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Thomas Mckinley bought 4,000 shares of Teladoc Health stock in a transaction dated Thursday, September 12th. The shares were acquired at an average cost of $7.69 per share, for a total transaction of $30,760.00. Following the completion of the purchase, the director now directly owns 39,077 shares of the company’s stock, valued at approximately $300,502.13. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders sold 57,377 shares of company stock valued at $438,054. Insiders own 0.95% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Clearline Capital LP increased its position in shares of Teladoc Health by 395.6% during 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. Allspring Global Investments Holdings LLC raised its position in shares of Teladoc Health by 74.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 20,568 shares of the health services provider’s stock worth $311,000 after acquiring an additional 8,750 shares in the last quarter. Mackenzie Financial Corp lifted its stake in shares of Teladoc Health by 170.7% in the 2nd quarter. Mackenzie Financial Corp now owns 107,255 shares of the health services provider’s stock valued at $1,049,000 after purchasing an additional 67,640 shares during the period. Janney Montgomery Scott LLC boosted its position in shares of Teladoc Health by 188.7% during the first quarter. Janney Montgomery Scott LLC now owns 31,594 shares of the health services provider’s stock valued at $477,000 after purchasing an additional 20,651 shares in the last quarter. Finally, Point72 Asset Management L.P. grew 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 worth $51,865,000 after purchasing an additional 3,655,436 shares during the period. 76.82% of the stock is currently owned by institutional investors.

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.