Teladoc Health (NYSE:TDOC) Price Target Raised to $8.00

Teladoc Health (NYSE:TDOC) had its price objective raised by TD Cowen from $6.00 to $8.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a “hold” rating on the health services provider’s stock. TD Cowen‘s target price would suggest a potential downside of 11.06% from the company’s current price.

Several other brokerages have also recently commented on TDOC. Oppenheimer boosted their price target on Teladoc Health from $7.00 to $10.00 and gave the company an “outperform” rating in a research note on Monday, November 2nd. Barclays increased their price objective on Teladoc Health from $7.00 to $9.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 4th. JPMorgan Chase & Co. raised their price objective on shares of Teladoc Health from $8.00 to $10.00 and gave the company a “neutral” rating in a research report on Friday, October 30th. Canaccord Genuity Group reduced their target price on shares of Teladoc Health from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Finally, Argus downgraded shares of Teladoc Health from a “hold” rating to a “sell” rating in a research report on Monday, November 2nd. Five analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $8.53.

Teladoc Health Stock Performance

Shares of NYSE:TDOC traded up $0.23 during midday trading on Monday, hitting $8.99. 909,673 shares of the stock were exchanged, compared to its average volume of 5,138,565. The company has a market capitalization of $1.64 billion, a PE ratio of -10.44 and a beta of 2.00. Teladoc Health has a 52-week low of $4.40 and a 52-week high of $9.89. The business’s fifty day simple moving average is $6.51 and its two-hundred day simple moving average is $6.54.

Teladoc Health (NYSE:TDOC) last issued its earnings results on Wednesday, October 28th. The health services provider reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.07. Teladoc Health had a negative return on equity of 11.63% and a negative net margin of 6.27%. The firm had revenue of $605.10 million for the quarter, compared to the consensus estimate of $588.14 million. During the same quarter in the previous year, the company posted ($0.28) earnings per share. The business’s quarterly revenue was down 3.4% compared to the same quarter last year. As a group, equities analysts anticipate that Teladoc Health will post -0.86 EPS for the current year.

Insiders Place Their Bets

In other Teladoc Health news, CEO Charles III sold 17,805 shares of the business’s stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $6.10, for a total value of $108,610.50. Following the completion of the sale, the chief executive officer owned 465,535 shares of the company’s stock, valued at $2,839,763.50. The trade was a 3.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Teladoc Health during the second quarter valued at approximately $1,447,000. Counterpoint Mutual Funds LLC raised its stake in shares of Teladoc Health by 1,017.4% in the third quarter. Counterpoint Mutual Funds LLC now owns 1,650,165 shares of the health services provider’s stock valued at $9,571,000 after purchasing an additional 1,502,488 shares in the last quarter. Monaco Asset Management SAM bought a new position in Teladoc Health in the second quarter worth $26,864,000. ABS Investment Management LLC bought a new position in Teladoc Health in the second quarter worth $1,513,154. Finally, ABS Direct Equity Fund LLC acquired a new stake in Teladoc Health during the second quarter worth $1,513,000. 76.82% of the stock is owned by institutional investors.

Teladoc Health Company Profile

Teladoc Health, Inc provides virtual healthcare services and technology designed to connect patients with medical professionals remotely. Through its digital platforms, the company supports a range of healthcare needs, including general medical consultations, mental health services, specialty care, and ongoing management of chronic conditions.

Its offerings include telehealth visits with physicians and other licensed providers, behavioral health services through BetterHelp, and chronic care programs that use digital tools and clinical support to help people manage conditions such as diabetes and hypertension.