Teladoc Health (NYSE:TDOC) Shares Up 6.8% – What’s Next?

Teladoc Health, Inc. (NYSE:TDOC)’s share price shot up 6.8% on Monday . The stock traded as high as $6.88 and last traded at $7.37. 921,810 shares changed hands during trading, a decline of 85% from the average session volume of 6,240,708 shares. The stock had previously closed at $6.90.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Bank of America cut their price objective on Teladoc Health from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Wednesday, May 28th. The Goldman Sachs Group decreased their price target on shares of Teladoc Health from $13.00 to $10.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Citigroup lowered their price objective on shares of Teladoc Health from $11.00 to $8.75 and set a “neutral” rating for the company in a report on Friday, April 25th. Wells Fargo & Company reduced their target price on shares of Teladoc Health from $10.00 to $8.00 and set an “equal weight” rating on the stock in a report on Thursday, May 8th. Finally, Canaccord Genuity Group lowered their price target on shares of Teladoc Health from $14.00 to $12.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Teladoc Health has an average rating of “Hold” and an average target price of $9.60.

Teladoc Health Trading Up 4.1%

The firm has a market cap of $1.26 billion, a PE ratio of -1.21 and a beta of 1.78. The firm has a fifty day simple moving average of $7.09 and a two-hundred day simple moving average of $8.83. The company has a current ratio of 1.68, a quick ratio of 1.64 and a debt-to-equity ratio of 0.70.

Insider Transactions at Teladoc Health

In other news, insider Carlos Nueno sold 3,958 shares of Teladoc Health stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $6.86, for a total transaction of $27,151.88. Following the completion of the transaction, the insider now directly owns 17,645 shares in the company, valued at approximately $121,044.70. This trade represents a 18.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Fernando M. Rodrigues sold 4,174 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $6.91, for a total value of $28,842.34. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,656 shares of company stock valued at $128,189. Company insiders own 0.58% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Whipplewood Advisors LLC bought a new position in Teladoc Health during the fourth quarter valued at approximately $29,000. Golden State Wealth Management LLC grew its position in Teladoc Health by 102.6% in the 1st quarter. Golden State Wealth Management LLC now owns 3,337 shares of the health services provider’s stock worth $27,000 after purchasing an additional 1,690 shares during the period. National Bank of Canada FI raised its stake in Teladoc Health by 79.4% during the 1st quarter. National Bank of Canada FI now owns 3,571 shares of the health services provider’s stock valued at $28,000 after buying an additional 1,581 shares during the last quarter. Lindbrook Capital LLC lifted its holdings in shares of Teladoc Health by 78.9% during the 4th quarter. Lindbrook Capital LLC now owns 3,654 shares of the health services provider’s stock valued at $33,000 after buying an additional 1,612 shares during the period. Finally, SVB Wealth LLC purchased a new position in shares of Teladoc Health in the 1st quarter worth $37,000. 76.82% of the stock is 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.