Piper Sandler Has Lowered Expectations for Teladoc Health (NYSE:TDOC) Stock Price

Teladoc Health (NYSE:TDOC) had its price objective lowered by analysts at Piper Sandler from $13.00 to $12.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the health services provider’s stock. Piper Sandler’s price target suggests a potential upside of 25.52% from the stock’s previous close.

TDOC has been the subject of several other research reports. The Goldman Sachs Group upped their price target on Teladoc Health from $14.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Barclays upped 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. Oppenheimer reduced their target price on Teladoc Health from $14.00 to $12.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Royal Bank of Canada boosted their price target on shares of Teladoc Health from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Friday, January 24th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Teladoc Health from $10.00 to $12.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Eleven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Teladoc Health presently has a consensus rating of “Hold” and a consensus price target of $11.44.

Teladoc Health Trading Up 0.6 %

Shares of Teladoc Health stock opened at $9.56 on Thursday. Teladoc Health has a 1 year low of $6.76 and a 1 year high of $15.95. The company’s fifty day simple moving average is $10.62 and its 200-day simple moving average is $9.55. The company has a market cap of $1.65 billion, a price-to-earnings ratio of -1.66 and a beta of 1.04. The company has a current ratio of 1.73, a quick ratio of 1.69 and a debt-to-equity ratio of 0.66.

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

Insiders Place Their Bets

In other news, insider Carlos Nueno sold 2,389 shares of Teladoc Health stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $11.93, for a total value of $28,500.77. Following the completion of the sale, the insider now directly owns 2,890 shares of the company’s stock, valued at approximately $34,477.70. This trade represents a 45.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.95% of the company’s stock.

Hedge Funds Weigh In On Teladoc Health

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Teladoc Health by 5.9% in the fourth quarter. Vanguard Group Inc. now owns 18,463,155 shares of the health services provider’s stock worth $167,830,000 after purchasing an additional 1,029,829 shares during the period. Point72 Asset Management L.P. grew its position in shares of Teladoc Health by 33.6% during the 4th quarter. Point72 Asset Management L.P. now owns 11,179,863 shares of the health services provider’s stock worth $101,625,000 after buying an additional 2,813,568 shares during the period. Renaissance Technologies LLC grew its position in shares of Teladoc Health by 15.5% during the 4th quarter. Renaissance Technologies LLC now owns 5,674,542 shares of the health services provider’s stock worth $51,582,000 after buying an additional 763,265 shares during the period. Geode Capital Management LLC raised its stake in shares of Teladoc Health by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 3,947,831 shares of the health services provider’s stock worth $35,894,000 after buying an additional 22,664 shares during the last quarter. Finally, Maple Rock Capital Partners Inc. lifted its holdings in Teladoc Health by 189.5% in the fourth quarter. Maple Rock Capital Partners Inc. now owns 3,561,000 shares of the health services provider’s stock valued at $32,369,000 after buying an additional 2,331,000 shares during the period. Institutional investors and hedge funds own 76.82% of the company’s stock.

Teladoc Health Company Profile

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.