Teladoc Health, Inc. (NYSE:TDOC) Stock Has Average Price Target of $8.40 According to Brokerages

Shares of Teladoc Health, Inc. (NYSE:TDOC) have been given an average recommendation of “Hold” by the eighteen brokerages that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $8.53.

A number of analysts have weighed in on TDOC shares. UBS Group raised their price target on Teladoc Health from $6.50 to $9.00 and gave the company a “neutral” rating in a research note on Monday, November 2nd. Oppenheimer upped their price objective on Teladoc Health from $7.00 to $10.00 and gave the stock an “outperform” rating in a research report on Monday, November 2nd. Wells Fargo & Company upped their price objective on Teladoc Health from $6.00 to $8.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 5th. Stifel Nicolaus boosted their target price on Teladoc Health from $5.50 to $6.50 and gave the stock a “hold” rating in a research note on Thursday, October 29th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Teladoc Health in a research note on Wednesday, August 19th.

Insider Buying and Selling

In other news, CEO Charles III sold 17,805 shares of the stock in a transaction that occurred on 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 directly owned 465,535 shares of the company’s stock, valued at approximately $2,839,763.50. This represents a 3.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Carlos Nueno sold 29,432 shares of the firm’s stock in a transaction on Friday, November 6th. The stock was sold at an average price of $9.20, for a total transaction of $270,774.40. Following the transaction, the insider directly owned 35,312 shares in the company, valued at $324,870.40. The trade was a 45.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 47,892 shares of company stock worth $383,086 in the last 90 days. 0.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of TDOC. Allworth Financial LP acquired a new stake in shares of Teladoc Health in the second quarter valued at about $25,000. Twin Lakes Capital Management LLC acquired a new position in Teladoc Health during the second quarter worth about $26,000. Nykredit A S acquired a new position in Teladoc Health during the second quarter worth about $27,000. EverSource Wealth Advisors LLC grew its position in Teladoc Health by 694.5% during the first quarter. EverSource Wealth Advisors LLC now owns 5,657 shares of the health services provider’s stock worth $31,000 after buying an additional 4,945 shares during the period. Finally, EFG International AG purchased a new position in Teladoc Health in the second quarter valued at about $35,000. Institutional investors and hedge funds own 76.82% of the company’s stock.

Teladoc Health Stock Down 0.6%

NYSE TDOC opened at $8.93 on Friday. Teladoc Health has a 52 week low of $4.40 and a 52 week high of $9.89. The stock has a market capitalization of $1.63 billion, a PE ratio of -10.38 and a beta of 2.00. The firm has a 50 day moving average of $6.61 and a two-hundred day moving average of $6.57.

Teladoc Health (NYSE:TDOC) last announced its quarterly earnings data on Wednesday, October 28th. The health services provider reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.07. The business had revenue of $605.10 million for the quarter, compared to analyst estimates of $588.14 million. Teladoc Health had a negative net margin of 6.27% and a negative return on equity of 11.63%. The company’s revenue was down 3.4% on a year-over-year basis. During the same period last year, the business earned ($0.28) EPS. On average, equities research analysts expect that Teladoc Health will post -0.86 earnings per share for the current fiscal year.

About Teladoc Health

Teladoc Health, Inc. provides virtual healthcare services through a digital platform that connects individuals with clinicians and other health professionals. Its offerings include virtual primary and specialty care, mental health services, and support for managing chronic conditions. The company serves members in the United States and internationally, with services and availability varying by market. Its consumer mental health services include BetterHelp, while its chronic-care programs draw on technology and services developed by Livongo, which Teladoc acquired in 2020.