Teladoc Health (NYSE:TDOC) Stock Price Up 6% – Here’s What Happened

Teladoc Health, Inc. (NYSE:TDOC)’s share price traded up 6% on Tuesday . The stock traded as high as $9.54 and last traded at $9.54. 2,561,442 shares traded hands during trading, a decline of 53% from the average session volume of 5,459,634 shares. The stock had previously closed at $9.00.

Analyst Upgrades and Downgrades

TDOC has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft dropped their price objective on Teladoc Health from $15.00 to $10.00 and set a “hold” rating on the stock in a research note on Friday, August 2nd. Cantor Fitzgerald restated an “overweight” rating and set a $10.00 price target on shares of Teladoc Health in a research note on Tuesday, August 20th. Jefferies Financial Group upped their price objective on shares of Teladoc Health from $8.00 to $10.00 and gave the stock a “hold” rating in a research note on Tuesday, September 17th. Royal Bank of Canada raised their target price on shares of Teladoc Health from $9.00 to $10.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. Finally, Barclays lowered their price target 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. Fifteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $11.81.

Teladoc Health Price Performance

The firm has a market cap of $1.61 billion, a PE ratio of -6.75 and a beta of 0.91. The stock has a 50 day simple moving average of $7.97 and a two-hundred day simple moving average of $10.11. 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 (NYSE:TDOC) last announced its quarterly earnings results on Wednesday, July 31st. The health services provider reported ($0.28) earnings per share 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 company had revenue of $642.44 million during the quarter, compared to analysts’ expectations of $649.34 million. Sell-side analysts expect that Teladoc Health, Inc. will post -1.18 earnings per share for the current year.

Insider Activity at Teladoc Health

In related news, insider Vidya Raman-Tangella sold 3,857 shares of Teladoc Health stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $8.14, for a total value of $31,395.98. Following the completion of the transaction, the insider now owns 33,667 shares in the company, valued at $274,049.38. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Laizer Kornwasser sold 10,879 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 $88,555.06. Following the completion of the transaction, the chief executive officer now owns 99,929 shares in the company, valued at $813,422.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 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 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 three months. Company insiders own 0.95% of the company’s stock.

Institutional Investors Weigh In On Teladoc Health

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Clearline Capital LP lifted its stake in Teladoc Health by 395.6% in the 2nd quarter. Clearline Capital LP now owns 4,364,201 shares of the health services provider’s stock worth $42,682,000 after purchasing an additional 3,483,665 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Teladoc Health by 195.3% during the second quarter. The Manufacturers Life Insurance Company now owns 95,307 shares of the health services provider’s stock worth $932,000 after buying an additional 63,028 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Teladoc Health by 74.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 20,568 shares of the health services provider’s stock worth $311,000 after buying an additional 8,750 shares during the last quarter. Mackenzie Financial Corp grew its holdings in Teladoc Health by 170.7% in the 2nd quarter. Mackenzie Financial Corp now owns 107,255 shares of the health services provider’s stock valued at $1,049,000 after buying an additional 67,640 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased 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 worth $477,000 after acquiring an additional 20,651 shares during the last quarter. Institutional investors and hedge funds 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.