Traders Purchase High Volume of Teladoc Health Call Options (NYSE:TDOC)

Teladoc Health, Inc. (NYSE:TDOC) was the recipient of unusually large options trading activity on Thursday. Stock investors bought 33,742 call options on the stock. This is an increase of approximately 66% compared to the average daily volume of 20,354 call options.

Institutional Trading of Teladoc Health

Several institutional investors have recently added to or reduced their stakes in the stock. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Teladoc Health by 15.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,701,161 shares of the health services provider’s stock worth $15,617,000 after purchasing an additional 228,004 shares during the last quarter. Jennison Associates LLC acquired a new position in Teladoc Health in the third quarter worth about $1,544,000. Massachusetts Financial Services Co. MA increased its holdings in Teladoc Health by 477.1% in 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 last quarter. Geode Capital Management LLC raised its stake in Teladoc Health by 1.5% during 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 buying an additional 56,864 shares in the last quarter. Finally, Maple Rock Capital Partners Inc. bought a new position in Teladoc Health during the 3rd quarter worth approximately $11,291,000. 76.82% of the stock is owned by institutional investors and hedge funds.

Teladoc Health Stock Up 4.2 %

Shares of Teladoc Health stock traded up $0.38 during trading hours on Thursday, hitting $9.41. 11,280,419 shares of the company’s stock traded hands, compared to its average volume of 8,409,156. Teladoc Health has a twelve month low of $6.76 and a twelve month high of $15.95. The company has a market cap of $1.63 billion, a PE ratio of -1.63 and a beta of 1.27. The company has a quick ratio of 1.69, a current ratio of 1.73 and a debt-to-equity ratio of 0.66. The stock has a 50 day simple moving average of $10.63 and a 200-day simple moving average of $9.62.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on TDOC shares. The Goldman Sachs Group dropped their price objective on Teladoc Health from $16.00 to $13.00 and set a “buy” rating for the company in a report on Monday. Oppenheimer cut their price objective on Teladoc Health from $14.00 to $12.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. Royal Bank of Canada boosted their target price on Teladoc Health from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. Bank of America raised their price target on shares of Teladoc Health from $11.50 to $13.50 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Teladoc Health in a research note on Thursday, February 27th. Eleven equities 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, Teladoc Health presently has a consensus rating of “Hold” and an average price target of $11.26.

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.