Teladoc Health (NYSE:TDOC) Trading Up 3.4% Following Analyst Upgrade

Teladoc Health, Inc. (NYSE:TDOC)’s stock price shot up 3.4% during mid-day trading on Wednesday after Evercore ISI raised their price target on the stock from $8.00 to $9.00. Evercore ISI currently has an in-line rating on the stock. Teladoc Health traded as high as $9.02 and last traded at $9.01. 381,234 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 5,465,071 shares. The stock had previously closed at $8.71.

A number of other research analysts have also recently weighed in on the company. Stifel Nicolaus lowered their price objective on Teladoc Health from $16.00 to $9.00 and set a “hold” rating on the stock in a research report on Thursday, August 1st. Barclays dropped their price target on shares of Teladoc Health from $20.00 to $10.00 and set an “overweight” rating for the company in a research report on Thursday, August 1st. Piper Sandler decreased their price objective on shares of Teladoc Health from $25.00 to $10.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Truist Financial lowered their target price on shares of Teladoc Health from $15.00 to $10.00 and set a “hold” rating on the stock in a research note on Friday, August 2nd. Finally, DA Davidson cut their price target on Teladoc Health from $12.00 to $8.00 and set a “neutral” rating for the company in a research note on Thursday, August 1st. Fifteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Teladoc Health presently has an average rating of “Hold” and a consensus price target of $12.25.

Insiders Place Their Bets

In other news, insider Vidya Raman-Tangella sold 3,857 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $8.14, for a total transaction of $31,395.98. Following the transaction, the insider now owns 33,667 shares of the company’s stock, valued at approximately $274,049.38. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Vidya Raman-Tangella sold 3,857 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $8.14, for a total transaction of $31,395.98. Following the transaction, the insider now directly owns 33,667 shares of the company’s stock, valued at approximately $274,049.38. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Mala Murthy sold 8,750 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $7.16, for a total value of $62,650.00. Following the transaction, the chief financial officer now directly owns 85,767 shares in the company, valued at $614,091.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 57,377 shares of company stock valued at $438,054 over the last three months. 0.95% of the stock is owned by company insiders.

Institutional Investors Weigh In On Teladoc Health

Several institutional investors have recently bought and sold shares of the company. Signaturefd LLC increased its holdings in shares of Teladoc Health by 148.7% during the second quarter. Signaturefd LLC now owns 2,868 shares of the health services provider’s stock valued at $28,000 after acquiring an additional 1,715 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in Teladoc Health in the second quarter valued at approximately $29,000. SageView Advisory Group LLC purchased a new stake in Teladoc Health in the first quarter valued at approximately $48,000. Covestor Ltd raised its holdings in shares of Teladoc Health by 58.1% during the first quarter. Covestor Ltd now owns 3,817 shares of the health services provider’s stock worth $57,000 after purchasing an additional 1,403 shares during the last quarter. Finally, Doheny Asset Management CA acquired a new position in Teladoc Health during the second quarter valued at $46,000. 76.82% of the stock is currently owned by institutional investors and hedge funds.

Teladoc Health Stock Performance

The firm’s fifty day simple moving average is $7.86 and its 200 day simple moving average is $10.31. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.66 and a quick ratio of 1.62.

Teladoc Health (NYSE:TDOC) last released its quarterly earnings data 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 for the quarter, compared to analyst estimates of $649.34 million. Teladoc Health had a negative return on equity of 10.25% and a negative net margin of 38.54%. Sell-side analysts anticipate that Teladoc Health, Inc. will post -1.18 earnings per share for the current year.

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.