Insider Selling: Teladoc Health (NYSE:TDOC) Insider Sells $270,774.40 in Stock

Teladoc Health, Inc. (NYSE:TDOC) insider Carlos Nueno sold 29,432 shares of the stock in a transaction that occurred on Friday, November 6th. The shares were sold at an average price of $9.20, for a total transaction of $270,774.40. Following the sale, the insider directly owned 35,312 shares of the company’s stock, valued at approximately $324,870.40. This represents a 45.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Teladoc Health Stock Performance

Shares of NYSE:TDOC opened at $8.94 on Thursday. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of -10.39 and a beta of 2.00. Teladoc Health, Inc. has a 1-year low of $4.40 and a 1-year high of $9.89. The company has a 50 day moving average price of $6.67 and a 200 day moving average price of $6.58.

Teladoc Health (NYSE:TDOC) last posted its quarterly earnings results on Wednesday, October 28th. The health services provider reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $605.10 million for the quarter, compared to analysts’ expectations of $588.14 million. During the same quarter in the prior year, the company earned ($0.28) earnings per share. The firm’s revenue was down 3.4% on a year-over-year basis. On average, sell-side analysts expect that Teladoc Health, Inc. will post -0.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TDOC has been the subject of several analyst reports. Canaccord Genuity Group reduced their target price on Teladoc Health from $11.00 to $10.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Teladoc Health in a research report on Wednesday, August 19th. Citigroup dropped their price target on Teladoc Health from $11.00 to $7.50 and set a “neutral” rating on the stock in a research note on Monday, August 3rd. Oppenheimer boosted their price objective on Teladoc Health from $7.00 to $10.00 and gave the stock an “outperform” rating in a report on Monday, November 2nd. Finally, TD Cowen upped their price objective on shares of Teladoc Health from $6.00 to $8.00 and gave the company a “hold” rating in a research note on Monday. Five research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $8.53.

Institutional Trading of Teladoc Health

Several large investors have recently added to or reduced their stakes in TDOC. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Teladoc Health in the second quarter worth approximately $1,447,000. Counterpoint Mutual Funds LLC boosted its holdings in shares of Teladoc Health by 1,017.4% during the third quarter. Counterpoint Mutual Funds LLC now owns 1,650,165 shares of the health services provider’s stock worth $9,571,000 after purchasing an additional 1,502,488 shares during the period. Monaco Asset Management SAM purchased a new position in Teladoc Health during the second quarter valued at approximately $26,864,000. ABS Investment Management LLC purchased a new position in Teladoc Health during the second quarter valued at approximately $1,513,154. Finally, ABS Direct Equity Fund LLC purchased a new position in Teladoc Health during the second quarter valued at approximately $1,513,000. 76.82% of the stock is owned by institutional investors and hedge funds.

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.