Royal Bank of Canada Boosts Teladoc Health (NYSE:TDOC) Price Target to $12.00

Teladoc Health (NYSE:TDOC) had its target price upped by analysts at Royal Bank of Canada from $11.00 to $12.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “outperform” rating on the health services provider’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 19.25% from the stock’s current price.

A number of other equities research analysts have also issued reports on TDOC. The Goldman Sachs Group assumed coverage on Teladoc Health in a research note on Friday, November 15th. They issued a “buy” rating and a $14.00 target price for the company. TD Cowen reduced their target price on shares of Teladoc Health from $9.00 to $8.00 and set a “hold” rating on the stock in a research report on Thursday, October 31st. Piper Sandler restated an “overweight” rating and issued a $13.00 target price (up from $11.00) on shares of Teladoc Health in a research note on Wednesday, December 4th. Oppenheimer dropped their price target 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. Finally, Evercore ISI upped their price objective on shares of Teladoc Health from $8.00 to $9.00 and gave the company an “in-line” rating in a research report on Tuesday, October 8th. Fourteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $12.08.

Teladoc Health Trading Down 0.8 %

Shares of TDOC stock opened at $10.06 on Friday. Teladoc Health has a fifty-two week low of $6.76 and a fifty-two week high of $21.74. The firm’s 50 day moving average price is $10.01 and its two-hundred day moving average price is $9.04. The stock has a market cap of $1.73 billion, a price-to-earnings ratio of -1.74 and a beta of 1.01. The company has a quick ratio of 1.69, a current ratio of 1.73 and a debt-to-equity ratio of 0.66.

Teladoc Health (NYSE:TDOC) last posted its earnings results on Wednesday, October 30th. The health services provider reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.10. Teladoc Health had a negative net margin of 37.91% and a negative return on equity of 10.06%. The business had revenue of $640.51 million for the quarter, compared to analyst estimates of $630.50 million. On average, analysts anticipate that Teladoc Health will post -1.16 EPS for the current year.

Insider Buying and Selling at Teladoc Health

In other Teladoc Health news, insider Carlos Nueno sold 2,389 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $11.93, for a total value of $28,500.77. Following the transaction, the insider now owns 2,890 shares of the company’s stock, valued at $34,477.70. This trade represents a 45.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.95% of the stock is owned by insiders.

Institutional Trading of Teladoc Health

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. boosted its position in Teladoc Health by 84.5% during the 3rd quarter. Blue Trust Inc. now owns 4,048 shares of the health services provider’s stock valued at $40,000 after purchasing an additional 1,854 shares during the period. Versant Capital Management Inc lifted its stake in Teladoc Health by 313.8% in the fourth quarter. Versant Capital Management Inc now owns 3,219 shares of the health services provider’s stock valued at $29,000 after buying an additional 2,441 shares during the last quarter. Westside Investment Management Inc. boosted its holdings in shares of Teladoc Health by 43.8% during the fourth quarter. Westside Investment Management Inc. now owns 9,200 shares of the health services provider’s stock valued at $84,000 after acquiring an additional 2,800 shares during the period. Private Advisor Group LLC grew its position in shares of Teladoc Health by 26.9% during the third quarter. Private Advisor Group LLC now owns 13,990 shares of the health services provider’s stock worth $128,000 after acquiring an additional 2,962 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its stake in Teladoc Health by 209.8% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 5,015 shares of the health services provider’s stock valued at $49,000 after purchasing an additional 3,396 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.