Teladoc Health (NYSE:TDOC) Receives “Hold” Rating from Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of Teladoc Health (NYSE:TDOC) in a research note released on Friday, Benzinga reports.

Other research analysts have also issued reports about the stock. DA Davidson lowered their target price on shares of Teladoc Health from $22.00 to $18.00 and set a neutral rating on the stock in a research report on Wednesday, February 21st. Canaccord Genuity Group lowered their price target on shares of Teladoc Health from $34.00 to $28.00 and set a buy rating on the stock in a research report on Wednesday, February 21st. Leerink Partnrs reiterated a market perform rating on shares of Teladoc Health in a research report on Monday, February 26th. Piper Sandler lowered their price target on shares of Teladoc Health from $30.00 to $25.00 and set an overweight rating on the stock in a research report on Wednesday, February 21st. Finally, SVB Leerink began coverage on shares of Teladoc Health in a research report on Monday, February 26th. They issued a market perform rating and a $17.00 price target on the stock. Eleven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Teladoc Health has a consensus rating of Hold and a consensus price target of $19.67.

Teladoc Health Stock Down 2.4 %

NYSE TDOC opened at $13.01 on Friday. Teladoc Health has a 52-week low of $12.65 and a 52-week high of $30.41. The firm has a 50-day moving average price of $15.01 and a 200 day moving average price of $17.77. The company has a debt-to-equity ratio of 0.66, a current ratio of 3.54 and a quick ratio of 3.47.

Teladoc Health (NYSE:TDOC) last issued its earnings results on Thursday, April 25th. The health services provider reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.47) by ($0.02). Teladoc Health had a negative return on equity of 10.11% and a negative net margin of 8.90%. The company had revenue of $646.13 million for the quarter, compared to analyst estimates of $637.31 million. During the same quarter in the previous year, the company posted ($0.37) earnings per share. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, equities research analysts predict that Teladoc Health will post -1.07 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Andrew Turitz sold 6,190 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $14.52, for a total value of $89,878.80. Following the transaction, the executive vice president now owns 39,429 shares of the company’s stock, valued at approximately $572,509.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Arnnon Geshuri sold 7,500 shares of the firm’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $15.06, for a total transaction of $112,950.00. Following the completion of the sale, the insider now directly owns 38,470 shares of the company’s stock, valued at approximately $579,358.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Andrew Turitz sold 6,190 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $14.52, for a total transaction of $89,878.80. Following the sale, the executive vice president now directly owns 39,429 shares of the company’s stock, valued at $572,509.08. The disclosure for this sale can be found here. In the last 90 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.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Lecap Asset Management Ltd. acquired a new position in Teladoc Health during the 4th quarter worth $1,530,000. Sowell Financial Services LLC grew its holdings in Teladoc Health by 40.8% during the 4th quarter. Sowell Financial Services LLC now owns 18,907 shares of the health services provider’s stock worth $407,000 after acquiring an additional 5,475 shares in the last quarter. Deutsche Bank AG grew its holdings in Teladoc Health by 12.4% during the 3rd quarter. Deutsche Bank AG now owns 301,147 shares of the health services provider’s stock worth $5,598,000 after acquiring an additional 33,287 shares in the last quarter. Sherbrooke Park Advisers LLC acquired a new position in shares of Teladoc Health in the 3rd quarter valued at about $680,000. Finally, QRG Capital Management Inc. acquired a new position in shares of Teladoc Health in the 3rd quarter valued at about $392,000. 76.82% of the stock is owned by institutional investors and hedge funds.

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.