Teladoc Health (NYSE:TDOC) Given New $18.00 Price Target at Royal Bank of Canada

Teladoc Health (NYSE:TDOC) had its price objective reduced by analysts at Royal Bank of Canada from $25.00 to $18.00 in a report released on Friday, Benzinga reports. The firm currently has an “outperform” rating on the health services provider’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 36.47% from the stock’s current price.

Other analysts also recently issued research reports about the stock. Canaccord Genuity Group dropped their target price on shares of Teladoc Health from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Friday. TD Cowen decreased their price target on Teladoc Health from $16.00 to $15.00 and set a “hold” rating for the company in a report on Friday. Piper Sandler decreased their price target on Teladoc Health from $30.00 to $25.00 and set an “overweight” rating for the company in a report on Wednesday, February 21st. Truist Financial decreased their price target on Teladoc Health from $23.00 to $17.00 and set a “hold” rating for the company in a report on Wednesday, March 6th. Finally, SVB Leerink assumed coverage on Teladoc Health in a report on Monday, February 26th. They issued a “market perform” rating and a $17.00 price target for the company. Eleven analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Teladoc Health presently has an average rating of “Hold” and an average target price of $20.00.

Teladoc Health Trading Down 1.1 %

Shares of NYSE TDOC traded down $0.14 on Friday, reaching $13.19. 4,457,614 shares of the company traded hands, compared to its average volume of 4,756,420. Teladoc Health has a fifty-two week low of $12.65 and a fifty-two week high of $30.41. The company has a 50 day moving average of $15.17 and a 200 day moving average of $17.80. The company has a current ratio of 3.54, a quick ratio of 3.47 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $2.23 billion, a PE ratio of -9.89 and a beta of 0.94.

Teladoc Health (NYSE:TDOC) last posted its quarterly earnings data on Thursday, April 25th. The health services provider reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.02). Teladoc Health had a negative net margin of 8.47% and a negative return on equity of 9.22%. The company had revenue of $646.13 million for the quarter, compared to analyst estimates of $637.31 million. During the same period in the prior year, the company earned ($0.37) EPS. The company’s revenue was up 2.7% compared to the same quarter last year. On average, equities research analysts forecast that Teladoc Health will post -1.07 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Laizer Kornwasser sold 7,882 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $19.18, for a total transaction of $151,176.76. Following the transaction, the insider now directly owns 57,223 shares of the company’s stock, valued at $1,097,537.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Laizer Kornwasser sold 7,882 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $19.18, for a total transaction of $151,176.76. Following the completion of the transaction, the insider now owns 57,223 shares of the company’s stock, valued at $1,097,537.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Arnnon Geshuri sold 7,500 shares of the firm’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $15.06, for a total value of $112,950.00. Following the transaction, the insider now directly owns 38,470 shares of the company’s stock, valued at approximately $579,358.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 135,441 shares of company stock valued at $2,038,251. Company insiders own 1.63% of the company’s stock.

Hedge Funds Weigh In On Teladoc Health

A number of hedge funds and other institutional investors have recently modified their holdings of TDOC. Newbridge Financial Services Group Inc. boosted its position in Teladoc Health by 2,130.9% during the 1st quarter. Newbridge Financial Services Group Inc. now owns 11,400 shares of the health services provider’s stock worth $172,000 after acquiring an additional 10,889 shares during the period. Westside Investment Management Inc. raised its stake in shares of Teladoc Health by 37.7% in the 1st quarter. Westside Investment Management Inc. now owns 5,662 shares of the health services provider’s stock valued at $85,000 after acquiring an additional 1,550 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in Teladoc Health by 74.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 20,568 shares of the health services provider’s stock worth $311,000 after buying an additional 8,750 shares during the period. Counterpoint Mutual Funds LLC bought a new position in Teladoc Health in the 1st quarter worth approximately $271,000. Finally, Ignite Planners LLC grew its holdings in shares of Teladoc Health by 6.9% during the 1st quarter. Ignite Planners LLC now owns 13,307 shares of the health services provider’s stock worth $198,000 after purchasing an additional 857 shares in the last quarter. 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.