Teladoc Health (NYSE:TDOC) Trading Up 6.8% – What’s Next?

Teladoc Health, Inc. (NYSE:TDOC)’s stock price traded up 6.8% during trading on Monday . The stock traded as high as $6.88 and last traded at $7.37. 921,810 shares changed hands during trading, a decline of 85% from the average session volume of 6,240,708 shares. The stock had previously closed at $6.90.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Piper Sandler lowered their target price on shares of Teladoc Health from $13.00 to $12.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. Truist Financial reduced their price objective on Teladoc Health from $10.00 to $9.00 and set a “hold” rating for the company in a research report on Tuesday, May 27th. Citigroup dropped their target price on Teladoc Health from $11.00 to $8.75 and set a “neutral” rating on the stock in a report on Friday, April 25th. Wells Fargo & Company cut their target price on Teladoc Health from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 8th. Finally, Jefferies Financial Group lowered their price target on Teladoc Health from $10.00 to $8.00 and set a “hold” rating for the company in a research report on Monday, April 21st. Twelve analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $9.60.

Teladoc Health Trading Up 1.7%

The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.64 and a current ratio of 1.68. The firm has a market cap of $1.41 billion, a PE ratio of -1.36 and a beta of 1.78. The stock has a 50-day simple moving average of $7.12 and a two-hundred day simple moving average of $8.81.

Insider Transactions at Teladoc Health

In other Teladoc Health news, insider Carlos Nueno sold 3,958 shares of the firm’s stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $6.86, for a total value of $27,151.88. Following the transaction, the insider now directly owns 17,645 shares of the company’s stock, valued at approximately $121,044.70. This trade represents a 18.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Adam C. Vandervoort sold 5,808 shares of the business’s stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $6.86, for a total value of $39,842.88. Following the sale, the insider now owns 69,773 shares of the company’s stock, valued at approximately $478,642.78. This represents a 7.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,656 shares of company stock worth $128,189 over the last three months. 0.58% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Teladoc Health

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased 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 buying an additional 1,289,183 shares during the last quarter. Point72 Asset Management L.P. grew its position in shares of Teladoc Health by 33.6% during 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 acquiring an additional 2,813,568 shares during the period. Renaissance Technologies LLC increased its stake in shares of Teladoc Health by 15.5% in the 4th quarter. Renaissance Technologies LLC now owns 5,674,542 shares of the health services provider’s stock worth $51,582,000 after purchasing an additional 763,265 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Teladoc Health by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 3,947,831 shares of the health services provider’s stock worth $35,894,000 after purchasing an additional 22,664 shares in the last quarter. Finally, Maple Rock Capital Partners Inc. raised its holdings in 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 worth $32,369,000 after purchasing an additional 2,331,000 shares during the period. 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.