Teladoc Health (NYSE:TDOC) Price Target Raised to $9.00

Teladoc Health (NYSE:TDOC) had its price target upped by Barclays from $7.00 to $9.00 in a report released on Wednesday,Benzinga reports. The firm currently has an equal weight rating on the health services provider’s stock.

Other equities analysts have also issued reports about the stock. Needham & Company LLC restated a “hold” rating on shares of Teladoc Health in a research report on Thursday, October 29th. Bank of America upped their price target on shares of Teladoc Health from $10.50 to $11.50 in a research report on Thursday, October 29th. Oppenheimer increased their price target on shares of Teladoc Health from $7.00 to $10.00 and gave the stock an “outperform” rating in a research note on Monday, November 2nd. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Teladoc Health from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Friday, October 30th. Finally, Stifel Nicolaus lifted their price objective on shares of Teladoc Health from $5.50 to $6.50 and gave the company a “hold” rating in a research note on Thursday, October 29th. Five analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $8.40.

Teladoc Health Price Performance

Shares of TDOC traded down $0.61 during midday trading on Wednesday, reaching $8.79. 5,725,558 shares of the stock were exchanged, compared to its average volume of 4,944,120. Teladoc Health has a twelve month low of $4.40 and a twelve month high of $9.89. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of -10.23 and a beta of 2.00. The business’s 50-day moving average price is $6.51 and its 200 day moving average price is $6.54.

Teladoc Health (NYSE:TDOC) last announced its earnings results on Wednesday, October 28th. The health services provider reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.07. The firm had revenue of $605.10 million during the quarter, compared to analysts’ expectations of $588.14 million. Teladoc Health had a negative return on equity of 11.63% and a negative net margin of 6.27%. The business’s revenue was down 3.4% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.28) EPS. As a group, equities research analysts expect that Teladoc Health will post -0.86 earnings per share for the current fiscal year.

Insider Buying and Selling at Teladoc Health

In related news, CEO Charles III sold 17,805 shares of Teladoc Health stock in a transaction on Friday, September 11th. The shares were sold at an average price of $6.10, for a total value of $108,610.50. Following the transaction, the chief executive officer directly owned 465,535 shares in the company, valued at $2,839,763.50. This trade represents a 3.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Teladoc Health

Several hedge funds have recently made changes to their positions in TDOC. Allworth Financial LP boosted its holdings in shares of Teladoc Health by 78.9% in the third quarter. Allworth Financial LP now owns 5,255 shares of the health services provider’s stock valued at $30,000 after acquiring an additional 2,317 shares in the last quarter. AlphaCore Capital LLC purchased a new position in Teladoc Health during the third quarter worth about $92,000. Fulcrum Asset Management LLP acquired a new stake in Teladoc Health in the third quarter valued at about $117,000. Formidable Asset Management LLC boosted its holdings in Teladoc Health by 6.2% in the 3rd quarter. Formidable Asset Management LLC now owns 27,935 shares of the health services provider’s stock valued at $162,000 after purchasing an additional 1,625 shares in the last quarter. Finally, Platform Technology Partners purchased a new stake in Teladoc Health in the 3rd quarter valued at approximately $91,000. Institutional investors and hedge funds own 76.82% of the company’s stock.

About Teladoc Health

Teladoc Health, Inc provides virtual healthcare services and technology designed to connect patients with medical professionals remotely. Through its digital platforms, the company supports a range of healthcare needs, including general medical consultations, mental health services, specialty care, and ongoing management of chronic conditions.

Its offerings include telehealth visits with physicians and other licensed providers, behavioral health services through BetterHelp, and chronic care programs that use digital tools and clinical support to help people manage conditions such as diabetes and hypertension.