Teladoc Health (NYSE:TDOC) Releases FY24 Earnings Guidance

Teladoc Health (NYSE:TDOC) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of ($1.10)-($0.80) for the period, compared to the consensus estimate of ($1.03). The company issued revenue guidance of $2.635-$2.735 billion, compared to the consensus revenue estimate of $2.66 billion. Teladoc Health also updated its Q2 guidance to ($0.45)-($0.35) EPS.

Teladoc Health Trading Down 2.9 %

TDOC stock traded down $0.40 during midday trading on Thursday, hitting $13.33. The stock had a trading volume of 6,550,543 shares, compared to its average volume of 4,757,382. The firm has a market cap of $2.26 billion, a PE ratio of -9.95 and a beta of 0.94. The company has a debt-to-equity ratio of 0.66, a current ratio of 3.54 and a quick ratio of 3.47. Teladoc Health has a 12-month low of $12.85 and a 12-month high of $30.41. The company’s 50-day moving average price is $15.31 and its 200 day moving average price is $17.83.

Teladoc Health (NYSE:TDOC) last announced its quarterly earnings data on Tuesday, February 20th. The health services provider reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.05. Teladoc Health had a negative net margin of 8.47% and a negative return on equity of 9.22%. The company had revenue of $660.50 million during the quarter, compared to analysts’ expectations of $670.79 million. During the same period in the previous year, the company earned ($0.23) EPS. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. On average, equities research analysts predict that Teladoc Health will post -1.07 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TDOC has been the subject of a number of research reports. Barclays decreased their price target on shares of Teladoc Health from $26.00 to $25.00 and set an overweight rating for the company in a research report on Wednesday, February 21st. Piper Sandler decreased their price target on shares of Teladoc Health from $30.00 to $25.00 and set an overweight rating for the company in a research report on Wednesday, February 21st. Cantor Fitzgerald initiated coverage on shares of Teladoc Health in a research report on Thursday, February 29th. They set an overweight rating and a $22.00 price target for the company. DA Davidson decreased their price target on shares of Teladoc Health from $22.00 to $18.00 and set a neutral rating for the company in a research report on Wednesday, February 21st. Finally, SVB Leerink assumed coverage on shares of Teladoc Health in a report on Monday, February 26th. They issued a market perform rating and a $17.00 price objective on the stock. Eight equities 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, the company has a consensus rating of Hold and an average price target of $22.23.

Insider Activity

In related news, COO Michael Willem Waters sold 4,523 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $19.18, for a total transaction of $86,751.14. Following the sale, the chief operating officer now owns 38,570 shares in the company, valued at $739,772.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CMO Stephany Verstraete sold 7,945 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $14.52, for a total transaction of $115,361.40. Following the completion of the sale, the chief marketing officer now directly owns 56,486 shares of the company’s stock, valued at $820,176.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Michael Willem Waters sold 4,523 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $19.18, for a total transaction of $86,751.14. Following the completion of the transaction, the chief operating officer now directly owns 38,570 shares of the company’s stock, valued at approximately $739,772.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 135,441 shares of company stock worth $2,038,251. 1.63% of the stock is currently owned by corporate insiders.

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.