Teladoc Health (NYSE:TDOC) Sees Strong Trading Volume Following Analyst Upgrade

Shares of Teladoc Health, Inc. (NYSE:TDOC) saw unusually-high trading volume on Wednesday after The Goldman Sachs Group raised their price target on the stock from $14.00 to $16.00. The Goldman Sachs Group currently has a buy rating on the stock. Approximately 14,679,102 shares were traded during trading, an increase of 115% from the previous session’s volume of 6,820,760 shares.The stock last traded at $13.17 and had previously closed at $13.11.

A number of other analysts have also commented on the company. Bank of America lifted their price target on Teladoc Health from $11.50 to $13.50 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. TD Cowen lowered their target price on Teladoc Health from $9.00 to $8.00 and set a “hold” rating on the stock in a research note 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. Barclays boosted their target price on Teladoc Health from $10.00 to $12.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Finally, Oppenheimer lowered their target price on Teladoc Health from $14.00 to $12.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Fourteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $12.18.

Insider Buying and Selling

In related news, insider Carlos Nueno sold 2,389 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $11.93, for a total transaction of $28,500.77. Following the completion of the transaction, the insider now directly owns 2,890 shares in the company, valued at $34,477.70. The trade was a 45.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.95% of the stock is owned by company insiders.

Hedge Funds Weigh In On Teladoc Health

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Versant Capital Management Inc lifted its stake in Teladoc Health by 313.8% during the fourth quarter. Versant Capital Management Inc now owns 3,219 shares of the health services provider’s stock worth $29,000 after purchasing an additional 2,441 shares during the last quarter. Whipplewood Advisors LLC bought a new stake in Teladoc Health during the fourth quarter worth about $29,000. Lindbrook Capital LLC lifted its stake in Teladoc Health by 78.9% during the fourth quarter. Lindbrook Capital LLC now owns 3,654 shares of the health services provider’s stock worth $33,000 after purchasing an additional 1,612 shares during the last quarter. Blue Trust Inc. lifted its stake in Teladoc Health by 84.5% during the third quarter. Blue Trust Inc. now owns 4,048 shares of the health services provider’s stock worth $40,000 after purchasing an additional 1,854 shares during the last quarter. Finally, Sterling Capital Management LLC lifted its stake in Teladoc Health by 776.7% during the fourth quarter. Sterling Capital Management LLC now owns 4,629 shares of the health services provider’s stock worth $42,000 after purchasing an additional 4,101 shares during the last quarter. 76.82% of the stock is currently owned by hedge funds and other institutional investors.

Teladoc Health Stock Performance

The company has a debt-to-equity ratio of 0.66, a current ratio of 1.73 and a quick ratio of 1.69. The company has a 50 day simple moving average of $10.47 and a 200-day simple moving average of $9.39. The stock has a market cap of $2.38 billion, a P/E ratio of -2.40 and a beta of 1.05.

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.