Teladoc Health (NYSE:TDOC) Stock Gets Price Target Increase from Wells Fargo & Company

Teladoc Health (NYSE:TDOC) had its target price lifted by investment analysts at Wells Fargo & Company from $6.00 to $8.00 in a report issued on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the health services provider’s stock. Wells Fargo & Company‘s price target suggests a potential downside of 15.30% from the company’s current price.

A number of other research analysts have also recently issued reports on the stock. Needham & Company LLC reissued a “hold” rating on shares of Teladoc Health in a research report on Thursday, October 29th. Canaccord Genuity Group cut their price objective on shares of Teladoc Health from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Truist Financial decreased their target price on shares of Teladoc Health from $9.00 to $8.00 and set a “hold” rating for the company in a research note on Friday, August 14th. Oppenheimer lifted their target price on shares of Teladoc Health from $7.00 to $10.00 and gave the company an “outperform” rating in a report on Monday. Finally, JPMorgan Chase & Co. lifted their target price on shares of Teladoc Health from $8.00 to $10.00 and gave the company a “neutral” rating in a report on Friday, October 30th. Five analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $8.40.

Teladoc Health Trading Down 2.6%

Teladoc Health stock traded down $0.26 on Thursday, hitting $9.45. 937,150 shares of the stock traded hands, compared to its average volume of 5,107,927. The firm has a market cap of $1.72 billion, a P/E ratio of -10.95 and a beta of 2.00. The business’s fifty day simple moving average is $6.40 and its 200 day simple moving average is $6.51. Teladoc Health has a 1 year low of $4.40 and a 1 year high of $9.89.

Teladoc Health (NYSE:TDOC) last announced 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. The firm had revenue of $605.10 million for the quarter, compared to analysts’ expectations 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 quarterly revenue was down 3.4% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.28) EPS. As a group, analysts predict that Teladoc Health will post -0.86 earnings per share for the current year.

Insider Activity

In related news, CEO Charles III sold 17,805 shares of the company’s stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $6.10, for a total value of $108,610.50. Following the transaction, the chief executive officer owned 465,535 shares in the company, valued at $2,839,763.50. The trade was a 3.68% decrease in their position. The sale was disclosed in a document filed with the SEC, 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 corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. AlphaCore Capital LLC purchased a new stake in shares of Teladoc Health during the third quarter valued at approximately $92,000. Fulcrum Asset Management LLP bought a new stake in shares of Teladoc Health during the third quarter valued at approximately $117,000. Formidable Asset Management LLC raised its holdings in Teladoc Health by 6.2% in the 3rd quarter. Formidable Asset Management LLC now owns 27,935 shares of the health services provider’s stock worth $162,000 after acquiring an additional 1,625 shares during the last quarter. Platform Technology Partners purchased a new position in Teladoc Health in the 3rd quarter worth approximately $91,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in Teladoc Health in the 3rd quarter worth approximately $60,000. 76.82% of the stock is owned by hedge funds and other 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.