Teladoc Health (NYSE:TDOC) Stock Price Up 5% – What’s Next?

Teladoc Health, Inc. (NYSE:TDOC)’s stock price was up 5% during mid-day trading on Thursday . The company traded as high as $9.46 and last traded at $9.45. Approximately 465,746 shares traded hands during trading, a decline of 92% from the average daily volume of 5,489,876 shares. The stock had previously closed at $9.00.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Royal Bank of Canada upped their target price on Teladoc Health from $9.00 to $10.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. Stifel Nicolaus decreased their target price on shares of Teladoc Health from $16.00 to $9.00 and set a “hold” rating for the company in a report on Thursday, August 1st. JPMorgan Chase & Co. cut their price target on shares of Teladoc Health from $16.00 to $9.00 and set a “neutral” rating on the stock in a report on Monday, August 26th. Needham & Company LLC reaffirmed a “hold” rating on shares of Teladoc Health in a research note on Thursday, August 1st. Finally, Piper Sandler cut their target price on shares of Teladoc Health from $25.00 to $10.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Fourteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $12.08.

Teladoc Health Price Performance

The stock has a 50-day simple moving average of $9.00 and a 200 day simple moving average of $9.31. The stock has a market capitalization of $1.72 billion, a P/E ratio of -1.66 and a beta of 0.90. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.69 and a current ratio of 1.73.

Teladoc Health (NYSE:TDOC) last announced its quarterly earnings data on Wednesday, October 30th. The health services provider reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.10. Teladoc Health had a negative return on equity of 10.06% and a negative net margin of 37.91%. The firm had revenue of $640.51 million during the quarter, compared to analysts’ expectations of $630.50 million. On average, equities analysts forecast that Teladoc Health, Inc. will post -1.17 earnings per share for the current fiscal year.

Insider Activity at Teladoc Health

In other news, Director Thomas Mckinley acquired 4,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was bought at an average price of $7.69 per share, with a total value of $30,760.00. Following the transaction, the director now directly owns 39,077 shares in the company, valued at approximately $300,502.13. The trade was a 11.40 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Mala Murthy sold 8,750 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $7.16, for a total value of $62,650.00. Following the transaction, the chief financial officer now directly owns 85,767 shares in the company, valued at $614,091.72. The trade was a 9.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,051 shares of company stock worth $143,565. 0.95% of the stock is owned by insiders.

Hedge Funds Weigh In On Teladoc Health

Institutional investors and hedge funds have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Teladoc Health by 2.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 65,588 shares of the health services provider’s stock worth $641,000 after purchasing an additional 1,352 shares in the last quarter. Covestor Ltd raised its position in shares of Teladoc Health by 58.1% in the 1st quarter. Covestor Ltd now owns 3,817 shares of the health services provider’s stock valued at $57,000 after buying an additional 1,403 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of Teladoc Health by 148.7% during the 2nd quarter. Signaturefd LLC now owns 2,868 shares of the health services provider’s stock worth $28,000 after acquiring an additional 1,715 shares during the period. Blue Trust Inc. boosted its position in shares of Teladoc Health by 84.5% during the 3rd quarter. Blue Trust Inc. now owns 4,048 shares of the health services provider’s stock worth $40,000 after acquiring an additional 1,854 shares in the last quarter. Finally, Arizona State Retirement System increased its stake in Teladoc Health by 4.2% in the second quarter. Arizona State Retirement System now owns 47,400 shares of the health services provider’s stock valued at $464,000 after acquiring an additional 1,901 shares during the last quarter. 76.82% of the stock is currently owned by institutional investors and hedge funds.

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.