Teladoc Health (NYSE:TDOC) Given New $10.00 Price Target at Royal Bank of Canada

Teladoc Health (NYSE:TDOC) had its price target boosted by equities research analysts at Royal Bank of Canada from $9.00 to $10.00 in a report released on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the health services provider’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 5.26% from the stock’s previous close.

Other analysts have also issued research reports about the company. Stifel Nicolaus reduced their target price on Teladoc Health from $16.00 to $9.00 and set a “hold” rating on the stock in a research note on Thursday, August 1st. Evercore ISI raised their price target on shares of Teladoc Health from $8.00 to $9.00 and gave the stock an “in-line” rating in a research note on Tuesday. Barclays lowered their price objective on shares of Teladoc Health from $20.00 to $10.00 and set an “overweight” rating for the company in a research report on Thursday, August 1st. DA Davidson reduced their target price on shares of Teladoc Health from $12.00 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, August 1st. Finally, JPMorgan Chase & Co. lowered their price target on Teladoc Health from $16.00 to $9.00 and set a “neutral” rating for the company in a report on Monday, August 26th. Fifteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $11.81.

Teladoc Health Stock Up 3.0 %

TDOC stock opened at $9.50 on Wednesday. The company has a quick ratio of 1.62, a current ratio of 1.66 and a debt-to-equity ratio of 0.66. Teladoc Health has a 12 month low of $6.76 and a 12 month high of $22.54. The company has a 50-day moving average price of $7.87 and a 200 day moving average price of $10.30.

Teladoc Health (NYSE:TDOC) last announced its earnings results on Wednesday, July 31st. The health services provider reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.36) by $0.08. Teladoc Health had a negative return on equity of 10.25% and a negative net margin of 38.54%. The business had revenue of $642.44 million during the quarter, compared to analyst estimates of $649.34 million. On average, equities analysts expect that Teladoc Health will post -1.18 EPS for the current fiscal year.

Insider Buying and Selling

In other Teladoc Health news, insider Vidya Raman-Tangella sold 3,857 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $8.14, for a total value of $31,395.98. Following the completion of the sale, the insider now directly owns 33,667 shares in the company, valued at $274,049.38. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO Michael Willem Waters sold 6,053 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $8.14, for a total transaction of $49,271.42. Following the transaction, the chief operating officer now owns 74,214 shares in the company, valued at $604,101.96. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Vidya Raman-Tangella sold 3,857 shares of Teladoc Health stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $8.14, for a total transaction of $31,395.98. Following the completion of the sale, the insider now owns 33,667 shares of the company’s stock, valued at $274,049.38. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 57,377 shares of company stock worth $438,054 in the last 90 days. 0.95% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in TDOC. Rubric Capital Management LP purchased a new stake in shares of Teladoc Health during the second quarter valued at $45,267,000. Point72 Asset Management L.P. grew its stake in Teladoc Health by 221.9% during the 2nd quarter. Point72 Asset Management L.P. now owns 5,303,123 shares of the health services provider’s stock valued at $51,865,000 after purchasing an additional 3,655,436 shares during the last quarter. Clearline Capital LP increased its holdings in shares of Teladoc Health by 395.6% in the second quarter. Clearline Capital LP now owns 4,364,201 shares of the health services provider’s stock valued at $42,682,000 after purchasing an additional 3,483,665 shares during the period. Vanguard Group Inc. raised its stake in shares of Teladoc Health by 11.8% in the fourth quarter. Vanguard Group Inc. now owns 17,515,127 shares of the health services provider’s stock worth $377,451,000 after purchasing an additional 1,855,480 shares during the last quarter. Finally, Mizuho Markets Americas LLC purchased a new position in shares of Teladoc Health in the second quarter worth about $3,937,000. Hedge funds and other institutional investors own 76.82% of the company’s stock.

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.