The Goldman Sachs Group Begins Coverage on Teladoc Health (NYSE:TDOC)

The Goldman Sachs Group began coverage on shares of Teladoc Health (NYSE:TDOC) in a report released on Friday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $14.00 target price on the health services provider’s stock.

Other analysts also recently issued reports about the company. 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. Canaccord Genuity Group cut their price objective on shares of Teladoc Health from $25.00 to $17.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Stifel Nicolaus decreased their target price on shares of Teladoc Health from $16.00 to $9.00 and set a “hold” rating on the stock in a report on Thursday, August 1st. Evercore ISI upped their price target on shares of Teladoc Health from $8.00 to $9.00 and gave the stock an “in-line” rating in a report on Tuesday, October 8th. Finally, Oppenheimer decreased their price objective on shares of Teladoc Health from $21.00 to $17.00 and set an “outperform” rating on the stock in a research note on Thursday, August 1st. Fourteen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $12.08.

Teladoc Health Trading Up 2.8 %

TDOC stock opened at $9.21 on Friday. Teladoc Health has a 52 week low of $6.76 and a 52 week high of $22.54. The company has a market capitalization of $1.59 billion, a PE ratio of -1.60 and a beta of 0.90. The company’s 50-day simple moving average is $8.89 and its 200 day simple moving average is $9.36. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.69 and a current ratio of 1.73.

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, topping analysts’ consensus estimates of ($0.29) by $0.10. Teladoc Health had a negative net margin of 37.91% and a negative return on equity of 10.06%. The firm had revenue of $640.51 million for the quarter, compared to analyst estimates of $630.50 million. As a group, sell-side analysts anticipate that Teladoc Health will post -1.17 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Michael Willem Waters sold 4,218 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $7.16, for a total transaction of $30,200.88. Following the completion of the transaction, the chief operating officer now directly owns 78,309 shares of the company’s stock, valued at $560,692.44. This trade represents a 5.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas Mckinley purchased 4,000 shares of Teladoc Health stock in a transaction on Thursday, September 12th. The stock was bought at an average price of $7.69 per share, for a total transaction of $30,760.00. Following the transaction, the director now directly owns 39,077 shares in the company, valued at approximately $300,502.13. The trade was a 11.40 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 20,051 shares of company stock worth $143,565 in the last ninety days. Company insiders own 0.95% of the company’s stock.

Hedge Funds Weigh In On Teladoc Health

A number of hedge funds have recently made changes to their positions in the stock. Rubric Capital Management LP acquired a new stake in Teladoc Health during the 2nd quarter valued at approximately $45,267,000. Point72 Asset Management L.P. boosted its stake in shares of Teladoc Health by 221.9% in 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 position in shares of Teladoc Health by 395.6% during the second quarter. Clearline Capital LP now owns 4,364,201 shares of the health services provider’s stock worth $42,682,000 after buying an additional 3,483,665 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of Teladoc Health during the third quarter worth $15,801,000. Finally, Maple Rock Capital Partners Inc. bought a new position in Teladoc Health during the third quarter worth $11,291,000. 76.82% of the stock is currently owned by 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.