TD Cowen Has Lowered Expectations for Teladoc Health (NYSE:TDOC) Stock Price

Teladoc Health (NYSE:TDOC) had its price target lowered by equities researchers at TD Cowen from $9.00 to $8.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “hold” rating on the health services provider’s stock. TD Cowen’s target price would indicate a potential downside of 13.19% from the stock’s previous close.

Several other research analysts have also recently issued reports on the company. Needham & Company LLC reissued a “hold” rating on shares of Teladoc Health in a research note on Thursday, August 1st. Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 price target on shares of Teladoc Health in a research note on Tuesday, August 20th. Deutsche Bank Aktiengesellschaft decreased their price target on Teladoc Health from $15.00 to $10.00 and set a “hold” rating for the company in a research note on Friday, August 2nd. Evercore ISI increased their price target on Teladoc Health from $8.00 to $9.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 8th. Finally, Piper Sandler cut their price objective on Teladoc Health from $25.00 to $10.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Fourteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $11.97.

Teladoc Health Price Performance

Shares of TDOC opened at $9.22 on Thursday. The stock has a fifty day moving average price of $8.48 and a 200 day moving average price of $9.69. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.62 and a current ratio of 1.66. Teladoc Health has a 12 month low of $6.76 and a 12 month high of $22.54.

Teladoc Health (NYSE:TDOC) last issued its quarterly earnings data on Wednesday, October 30th. The health services provider reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.10. Teladoc Health had a negative return on equity of 9.40% and a negative net margin of 37.91%. The firm had revenue of $640.51 million during the quarter, compared to the consensus estimate of $630.50 million. As a group, sell-side analysts anticipate that Teladoc Health will post -1.18 EPS for the current fiscal year.

Insiders Place Their Bets

In other Teladoc Health news, Director Thomas Mckinley acquired 4,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was purchased at an average cost of $7.69 per share, for a total transaction of $30,760.00. Following the transaction, the director now owns 39,077 shares of the company’s stock, valued at $300,502.13. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Thomas Mckinley purchased 4,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was bought at an average cost of $7.69 per share, with a total value of $30,760.00. Following the purchase, the director now directly owns 39,077 shares of the company’s stock, valued at approximately $300,502.13. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CMO Stephany Verstraete sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $7.60, for a total value of $114,000.00. Following the sale, the chief marketing officer now directly owns 45,158 shares of the company’s stock, valued at $343,200.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,588 shares of company stock worth $268,831. 0.95% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Teladoc Health

Hedge funds and other institutional investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its stake in shares of Teladoc Health by 74.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 20,568 shares of the health services provider’s stock valued at $311,000 after acquiring an additional 8,750 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Teladoc Health by 33.1% in the 1st quarter. Principal Financial Group Inc. now owns 13,833 shares of the health services provider’s stock valued at $209,000 after acquiring an additional 3,442 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Teladoc Health by 40.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 209,689 shares of the health services provider’s stock valued at $3,166,000 after acquiring an additional 60,780 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Teladoc Health by 188.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 31,594 shares of the health services provider’s stock valued at $477,000 after acquiring an additional 20,651 shares in the last quarter. Finally, Capstone Investment Advisors LLC raised its stake in shares of Teladoc Health by 44.8% in the 1st quarter. Capstone Investment Advisors LLC now owns 32,196 shares of the health services provider’s stock valued at $486,000 after acquiring an additional 9,968 shares in the last quarter. 76.82% of the stock is owned by hedge funds and other institutional investors.

About Teladoc Health

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.