Teladoc Health (NYSE:TDOC) Stock Price Up 9% – Time to Buy?

Teladoc Health, Inc. (NYSE:TDOC) shares traded up 9% on Friday . The stock traded as high as $14.39 and last traded at $14.73. 6,387,505 shares traded hands during mid-day trading, an increase of 7% from the average session volume of 5,963,633 shares. The stock had previously closed at $13.51.

Wall Street Analyst Weigh In

A number of brokerages recently commented on TDOC. Barclays upped their price target on shares of Teladoc Health from $10.00 to $12.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Bank of America increased their target price on Teladoc Health from $11.50 to $13.50 and gave the stock a “neutral” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft lifted their price target on Teladoc Health from $10.00 to $12.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Oppenheimer decreased their price objective on Teladoc Health from $14.00 to $12.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Finally, Piper Sandler restated an “overweight” rating and issued a $13.00 target price (up previously from $11.00) on shares of Teladoc Health in a research note on Wednesday, December 4th. Fourteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $12.08.

Teladoc Health Price Performance

The company has a current ratio of 1.73, a quick ratio of 1.69 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $2.49 billion, a PE ratio of -2.50 and a beta of 1.05. The business has a fifty day moving average price of $10.22 and a 200-day moving average price of $9.25.

Insider Transactions at Teladoc Health

In other news, insider Carlos Nueno sold 2,389 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $11.93, for a total transaction of $28,500.77. Following the transaction, the insider now directly owns 2,890 shares of the company’s stock, valued at approximately $34,477.70. This trade represents a 45.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.95% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TDOC. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Teladoc Health by 15.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,701,161 shares of the health services provider’s stock worth $15,617,000 after acquiring an additional 228,004 shares during the last quarter. Jennison Associates LLC bought a new stake in shares of Teladoc Health in the third quarter worth about $1,544,000. Massachusetts Financial Services Co. MA increased its holdings in Teladoc Health by 477.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 370,093 shares of the health services provider’s stock valued at $3,397,000 after purchasing an additional 305,961 shares during the period. Geode Capital Management LLC raised its position in Teladoc Health by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 3,925,167 shares of the health services provider’s stock valued at $36,042,000 after purchasing an additional 56,864 shares during the last quarter. Finally, Maple Rock Capital Partners Inc. purchased a new position in shares of Teladoc Health during the third quarter valued at approximately $11,291,000. 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.