Wells Fargo & Company Cuts Teladoc Health (NYSE:TDOC) Price Target to $8.00

Teladoc Health (NYSE:TDOC) had its price objective cut by Wells Fargo & Company from $10.00 to $8.00 in a report published on Thursday,Benzinga reports. They currently have an equal weight rating on the health services provider’s stock.

Other equities research analysts have also issued research reports about the stock. Needham & Company LLC reissued a “hold” rating on shares of Teladoc Health in a research note on Thursday, May 1st. Jefferies Financial Group lowered their target price on Teladoc Health from $10.00 to $8.00 and set a “hold” rating on the stock in a research note on Monday, April 21st. Evercore ISI dropped their target price on Teladoc Health from $8.00 to $7.00 and set an “in-line” rating on the stock in a research report on Thursday, May 1st. Stifel Nicolaus lowered their price target on Teladoc Health from $9.00 to $8.00 and set a “hold” rating for the company in a research note on Thursday, May 1st. Finally, Oppenheimer dropped their price objective on Teladoc Health from $14.00 to $12.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. Twelve analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $9.71.

Teladoc Health Price Performance

Shares of NYSE:TDOC opened at $7.12 on Thursday. The company’s fifty day moving average is $7.75 and its two-hundred day moving average is $9.41. The company has a market cap of $1.25 billion, a P/E ratio of -1.23 and a beta of 1.82. Teladoc Health has a 12-month low of $6.35 and a 12-month high of $15.21. The company has a quick ratio of 1.69, a current ratio of 1.73 and a debt-to-equity ratio of 0.66.

Teladoc Health (NYSE:TDOC) last posted its quarterly earnings results on Wednesday, February 26th. The health services provider reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.07). Teladoc Health had a negative net margin of 37.91% and a negative return on equity of 10.06%. The business had revenue of $640.49 million for the quarter, compared to analyst estimates of $639.44 million. Equities analysts expect that Teladoc Health will post -1.16 earnings per share for the current fiscal year.

Insider Transactions at Teladoc Health

In related news, insider Adam C. Vandervoort sold 11,011 shares of the business’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $8.42, for a total transaction of $92,712.62. Following the transaction, the insider now directly owns 64,308 shares in the company, valued at $541,473.36. The trade was a 14.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.58% of the stock is currently owned by corporate insiders.

Institutional Trading of Teladoc Health

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Teladoc Health by 7.0% during the first quarter. Vanguard Group Inc. now owns 19,752,338 shares of the health services provider’s stock valued at $157,229,000 after purchasing an additional 1,289,183 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in shares of Teladoc Health by 33.6% in the 4th quarter. Point72 Asset Management L.P. now owns 11,179,863 shares of the health services provider’s stock valued at $101,625,000 after purchasing an additional 2,813,568 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Teladoc Health by 15.5% during the 4th quarter. Renaissance Technologies LLC now owns 5,674,542 shares of the health services provider’s stock valued at $51,582,000 after acquiring an additional 763,265 shares during the last quarter. Geode Capital Management LLC increased its holdings in Teladoc Health by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 3,947,831 shares of the health services provider’s stock valued at $35,894,000 after purchasing an additional 22,664 shares during the last quarter. Finally, Maple Rock Capital Partners Inc. raised its position in shares of Teladoc Health by 189.5% in the 4th quarter. Maple Rock Capital Partners Inc. now owns 3,561,000 shares of the health services provider’s stock valued at $32,369,000 after acquiring an additional 2,331,000 shares during the period. 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.