Royal Bank of Canada Raises Teladoc Health (NYSE:TDOC) Price Target to $10.00

Teladoc Health (NYSE:TDOC) had its price target lifted by Royal Bank of Canada from $9.00 to $10.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have an outperform rating on the health services provider’s stock.

A number of other research firms also recently commented on TDOC. Evercore ISI boosted their price target on Teladoc Health from $8.00 to $9.00 and gave the company an in-line rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft dropped their price target on Teladoc Health from $15.00 to $10.00 and set a hold rating for the company in a research note on Friday, August 2nd. Barclays dropped their price target on Teladoc Health from $20.00 to $10.00 and set an overweight rating for the company in a research note on Thursday, August 1st. Truist Financial dropped their price target on Teladoc Health from $15.00 to $10.00 and set a hold rating for the company in a research note on Friday, August 2nd. Finally, Canaccord Genuity Group dropped their price target on Teladoc Health from $25.00 to $17.00 and set a buy 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 issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $11.81.

Teladoc Health Trading Down 3.1 %

Shares of Teladoc Health stock opened at $9.20 on Wednesday. The firm has a 50-day moving average of $7.90 and a 200-day moving average of $10.26. The stock has a market cap of $1.58 billion, a PE ratio of -1.55 and a beta of 0.91. Teladoc Health has a 52-week low of $6.76 and a 52-week high of $22.54. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.62 and a current ratio of 1.66.

Teladoc Health (NYSE:TDOC) last announced its earnings results on Wednesday, July 31st. The health services provider reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.08. The company had revenue of $642.44 million during the quarter, compared to analysts’ expectations of $649.34 million. Teladoc Health had a negative net margin of 38.54% and a negative return on equity of 10.25%. As a group, sell-side analysts forecast that Teladoc Health will post -1.18 EPS for the current year.

Insider Transactions at Teladoc Health

In other news, insider Vidya Raman-Tangella sold 3,857 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $8.14, for a total transaction of $31,395.98. Following the sale, the insider now directly owns 33,667 shares in the company, valued at approximately $274,049.38. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Thomas Mckinley bought 4,000 shares of Teladoc Health stock in a transaction that occurred on Thursday, September 12th. The shares were acquired at an average cost of $7.69 per share, for a total transaction of $30,760.00. Following the completion of the acquisition, the director now directly owns 39,077 shares of the company’s stock, valued at approximately $300,502.13. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Vidya Raman-Tangella sold 3,857 shares of the company’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 value of $31,395.98. Following the completion of the sale, the insider now owns 33,667 shares in the company, valued at $274,049.38. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 57,377 shares of company stock worth $438,054. Insiders own 0.95% of the company’s stock.

Institutional Trading of Teladoc Health

Several institutional investors have recently added to or reduced their stakes in TDOC. Rubric Capital Management LP bought a new stake in Teladoc Health in the second quarter valued at approximately $45,267,000. Point72 Asset Management L.P. boosted its holdings in Teladoc Health by 221.9% in the second quarter. Point72 Asset Management L.P. now owns 5,303,123 shares of the health services provider’s stock valued at $51,865,000 after acquiring an additional 3,655,436 shares during the last quarter. Clearline Capital LP boosted its holdings in Teladoc Health by 395.6% in the second quarter. Clearline Capital LP now owns 4,364,201 shares of the health services provider’s stock valued at $42,682,000 after acquiring an additional 3,483,665 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Teladoc Health by 11.8% in the fourth quarter. Vanguard Group Inc. now owns 17,515,127 shares of the health services provider’s stock valued at $377,451,000 after acquiring an additional 1,855,480 shares during the last quarter. Finally, Mizuho Markets Americas LLC bought a new stake in Teladoc Health in the second quarter valued at approximately $3,937,000. 76.82% of the stock is currently owned by institutional investors.

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.