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

Teladoc Health (NYSE:TDOC) had its price target hoisted by UBS Group from $6.50 to $9.00 in a research note released on Monday morning,Benzinga reports. The firm currently has a neutral rating on the health services provider’s stock.

A number of other analysts have also recently issued reports on TDOC. Stifel Nicolaus boosted their price objective on Teladoc Health from $5.50 to $6.50 and gave the company a “hold” rating in a research report on Thursday, October 29th. Citigroup reduced their target price on Teladoc Health from $11.00 to $7.50 and set a “neutral” rating for the company in a research report on Monday, August 3rd. Oppenheimer raised their target price on Teladoc Health from $7.00 to $10.00 and gave the stock an “outperform” rating in a research report on Monday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Teladoc Health in a research note on Wednesday, August 19th. Finally, Canaccord Genuity Group lowered their price target on shares of Teladoc Health from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Five research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $8.27.

Teladoc Health Stock Performance

NYSE TDOC opened at $9.66 on Monday. Teladoc Health has a twelve month low of $4.40 and a twelve month high of $9.89. The stock has a market capitalization of $1.76 billion, a PE ratio of -11.23 and a beta of 2.00. The stock has a 50-day simple moving average of $6.40 and a 200 day simple moving average of $6.51.

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

Insider Buying and Selling

In related news, CEO Charles III sold 17,805 shares of the firm’s stock in a transaction on Friday, September 11th. The stock was sold at an average price of $6.10, for a total transaction of $108,610.50. Following the sale, the chief executive officer owned 465,535 shares of the company’s stock, valued at approximately $2,839,763.50. This trade represents a 3.68% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On Teladoc Health

A number of hedge funds have recently modified their holdings of the business. Allworth Financial LP bought a new position in shares of Teladoc Health during the 2nd quarter valued at about $25,000. Twin Lakes Capital Management LLC bought a new stake in Teladoc Health during the 2nd quarter worth approximately $26,000. Nykredit A S bought a new stake in Teladoc Health during the 2nd quarter worth approximately $27,000. EFG International AG bought a new stake in Teladoc Health during the 2nd quarter worth approximately $35,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in Teladoc Health during the 2nd quarter worth approximately $46,000. 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.