Teladoc Health (NYSE:TDOC) Stock Price Down 7.3% – Here’s What Happened

Teladoc Health, Inc. (NYSE:TDOC) fell 7.3% during trading on Monday . The company traded as low as $8.34 and last traded at $8.54. 1,965,935 shares traded hands during trading, a decline of 64% from the average session volume of 5,459,042 shares. The stock had previously closed at $9.21.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on TDOC shares. Piper Sandler dropped their price target on shares of Teladoc Health from $25.00 to $10.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft boosted their price objective on Teladoc Health from $10.00 to $12.00 and gave the company a “hold” rating in a research report on Friday. DA Davidson cut their target price on Teladoc Health from $12.00 to $8.00 and set a “neutral” rating for the company in a research report on Thursday, August 1st. Needham & Company LLC reissued a “hold” rating on shares of Teladoc Health in a report on Thursday, August 1st. Finally, Jefferies Financial Group lifted their price objective on shares of Teladoc Health from $8.00 to $10.00 and gave the company a “hold” rating in a research report on Tuesday, September 17th. Fourteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $11.97.

Teladoc Health Stock Performance

The stock has a market capitalization of $1.49 billion, a PE ratio of -1.50 and a beta of 0.90. The business’s 50 day moving average is $8.48 and its 200 day moving average is $9.64. The company has a current ratio of 1.66, a quick ratio of 1.62 and a debt-to-equity ratio of 0.66.

Teladoc Health (NYSE:TDOC) last announced its earnings results on Wednesday, October 30th. The health services provider reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $640.51 million during the quarter, compared to analyst estimates of $630.50 million. On average, equities research analysts predict that Teladoc Health, Inc. will post -1.18 earnings per share for the current fiscal year.

Insider Transactions at Teladoc Health

In related news, Director Thomas Mckinley bought 4,000 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were acquired at an average cost of $7.69 per share, for a total transaction 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. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, COO Michael Willem Waters sold 4,218 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $7.16, for a total value of $30,200.88. Following the completion of the sale, the chief operating officer now owns 78,309 shares of the company’s stock, valued at approximately $560,692.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas Mckinley acquired 4,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were acquired at an average price of $7.69 per share, for a total transaction of $30,760.00. Following the completion of the purchase, the director now owns 39,077 shares of the company’s stock, valued at approximately $300,502.13. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 35,051 shares of company stock worth $257,565. 0.95% of the stock is currently owned by insiders.

Institutional Trading of Teladoc Health

Hedge funds have recently bought and sold shares of the stock. Robeco Institutional Asset Management B.V. boosted its stake in Teladoc Health by 141.9% in the third quarter. Robeco Institutional Asset Management B.V. now owns 575,055 shares of the health services provider’s stock valued at $5,279,000 after acquiring an additional 337,305 shares in the last quarter. Janney Montgomery Scott LLC raised its position in shares of Teladoc Health by 63.0% in the 3rd quarter. Janney Montgomery Scott LLC now owns 106,727 shares of the health services provider’s stock valued at $980,000 after purchasing an additional 41,250 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in Teladoc Health in the 3rd quarter worth approximately $111,000. Assenagon Asset Management S.A. acquired a new stake in Teladoc Health in the 3rd quarter worth approximately $15,801,000. Finally, International Assets Investment Management LLC increased its stake in Teladoc Health by 693.0% during the 3rd quarter. International Assets Investment Management LLC now owns 23,299 shares of the health services provider’s stock valued at $214,000 after purchasing an additional 20,361 shares in the last quarter. Hedge funds and other institutional investors own 76.82% of the company’s stock.

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.