Teladoc Health (NYSE:TDOC) Shares Gap Down – Here’s What Happened

Shares of Teladoc Health, Inc. (NYSE:TDOC) gapped down before the market opened on Friday . The stock had previously closed at $9.39, but opened at $9.11. Teladoc Health shares last traded at $9.35, with a volume of 410,283 shares.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TDOC. Needham & Company LLC reaffirmed a “hold” rating on shares of Teladoc Health in a research note on Thursday, February 27th. Oppenheimer dropped their price target on shares of Teladoc Health from $14.00 to $12.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Piper Sandler dropped their price target on shares of Teladoc Health from $13.00 to $12.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. Royal Bank of Canada lifted their price target on shares of Teladoc Health from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Friday, January 24th. Finally, Bank of America boosted their price objective on shares of Teladoc Health from $11.50 to $13.50 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. Eleven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $11.26.

Teladoc Health Price Performance

The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.69 and a current ratio of 1.73. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of -1.59 and a beta of 1.27. The stock’s 50 day simple moving average is $10.62 and its 200-day simple moving average is $9.65.

Teladoc Health (NYSE:TDOC) last issued its quarterly earnings results on Wednesday, February 26th. The health services provider reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.07). The company had revenue of $640.49 million for the quarter, compared to analyst estimates of $639.44 million. Teladoc Health had a negative net margin of 37.91% and a negative return on equity of 10.06%. Equities research analysts anticipate that Teladoc Health, Inc. will post -1.16 EPS for the current fiscal year.

Institutional Trading of Teladoc Health

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. grew its position in Teladoc Health by 15.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,701,161 shares of the health services provider’s stock valued at $15,617,000 after buying an additional 228,004 shares during the period. Jennison Associates LLC acquired a new stake in Teladoc Health during the third quarter valued at $1,544,000. Massachusetts Financial Services Co. MA grew its position in Teladoc Health by 477.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 370,093 shares of the health services provider’s stock valued at $3,397,000 after buying an additional 305,961 shares during the period. Geode Capital Management LLC grew its position in shares of Teladoc Health by 1.5% in the third quarter. Geode Capital Management LLC now owns 3,925,167 shares of the health services provider’s stock valued at $36,042,000 after purchasing an additional 56,864 shares during the period. Finally, Maple Rock Capital Partners Inc. acquired a new stake in shares of Teladoc Health in the third quarter valued at about $11,291,000. Institutional investors and hedge funds own 76.82% of the company’s stock.

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.