Teladoc Health (NYSE:TDOC) Issues Q2 2024 Earnings Guidance

Teladoc Health (NYSE:TDOC) issued an update on its second quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of -0.450–0.350 for the period, compared to the consensus earnings per share estimate of -0.300. The company issued revenue guidance of $635.0 million-$660.0 million, compared to the consensus revenue estimate of $662.6 million. Teladoc Health also updated its FY24 guidance to ($1.10)-($0.80) EPS.

Teladoc Health Stock Performance

Shares of TDOC traded down $0.40 during mid-day trading on Thursday, hitting $13.33. 6,599,008 shares of the company’s stock were exchanged, compared to its average volume of 4,759,304. Teladoc Health has a 52 week low of $12.85 and a 52 week high of $30.41. The stock’s 50-day simple moving average is $15.17 and its 200-day simple moving average is $17.80. The firm has a market cap of $2.26 billion, a price-to-earnings ratio of -9.95 and a beta of 0.94. The company has a quick ratio of 3.47, a current ratio of 3.54 and a debt-to-equity ratio of 0.66.

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Citigroup cut their target price on shares of Teladoc Health from $21.00 to $19.00 and set a neutral rating on the stock in a research report on Wednesday, February 21st. SVB Leerink began coverage on shares of Teladoc Health in a report on Monday, February 26th. They set a market perform rating and a $17.00 price target on the stock. Truist Financial cut their price target on shares of Teladoc Health from $23.00 to $17.00 and set a hold rating on the stock in a report on Wednesday, March 6th. Canaccord Genuity Group cut their price target on shares of Teladoc Health from $34.00 to $28.00 and set a buy rating on the stock in a report on Wednesday, February 21st. Finally, Leerink Partnrs reiterated a market perform rating on shares of Teladoc Health in a report on Monday, February 26th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Hold and a consensus target price of $22.23.

Insider Activity

In other news, CAO Richard J. Napolitano sold 3,765 shares of Teladoc Health stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $14.52, for a total transaction of $54,667.80. Following the completion of the transaction, the chief accounting officer now directly owns 18,077 shares in the company, valued at $262,478.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CMO Stephany Verstraete sold 7,945 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $14.52, for a total transaction of $115,361.40. Following the transaction, the chief marketing officer now directly owns 56,486 shares in the company, valued at $820,176.72. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Richard J. Napolitano sold 3,765 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $14.52, for a total transaction of $54,667.80. Following the transaction, the chief accounting officer now owns 18,077 shares in the company, valued at $262,478.04. The disclosure for this sale can be found here. Insiders sold 135,441 shares of company stock worth $2,038,251 over the last three months. 1.63% of the stock is currently owned by insiders.

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.