Insider Selling: Teladoc Health (NYSE:TDOC) Insider Sells 29,432 Shares of Stock

Teladoc Health, Inc. (NYSE:TDOC) insider Carlos Nueno sold 29,432 shares of the stock in a transaction on Friday, November 6th. The stock was sold at an average price of $9.20, for a total transaction of $270,774.40. Following the transaction, the insider owned 35,312 shares in the company, valued at approximately $324,870.40. This trade represents a 45.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Teladoc Health Stock Performance

Shares of Teladoc Health stock traded up $0.23 during midday trading on Monday, reaching $9.01. 4,029,957 shares of the company’s stock traded hands, compared to its average volume of 5,153,952. The company has a market cap of $1.64 billion, a price-to-earnings ratio of -10.47 and a beta of 2.00. The company’s 50 day simple moving average is $6.51 and its 200 day simple moving average is $6.54. Teladoc Health, Inc. has a 52 week low of $4.40 and a 52 week high of $9.89.

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

Wall Street Analyst Weigh In

A number of analysts have weighed in on TDOC shares. Deutsche Bank Aktiengesellschaft boosted their price target on Teladoc Health from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Friday, October 30th. UBS Group increased their price objective on Teladoc Health from $6.50 to $9.00 and gave the company a “neutral” rating in a report on Monday, November 2nd. Truist Financial cut their price objective on Teladoc Health from $9.00 to $8.00 and set a “hold” rating on the stock in a research note on Friday, August 14th. Canaccord Genuity Group reduced their target price on Teladoc Health from $11.00 to $10.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Teladoc Health in a report on Wednesday, August 19th. Five research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $8.53.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Royce & Associates LP boosted its holdings in Teladoc Health by 36.4% during the third quarter. Royce & Associates LP now owns 17,608 shares of the health services provider’s stock valued at $102,000 after acquiring an additional 4,696 shares during the period. Allworth Financial LP grew its position 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 purchasing an additional 2,317 shares during the last quarter. AlphaCore Capital LLC acquired a new stake in shares of Teladoc Health in the third quarter valued at about $92,000. Fulcrum Asset Management LLP acquired a new stake in shares of Teladoc Health in the third quarter valued at about $117,000. Finally, Formidable Asset Management LLC increased its stake in shares of Teladoc Health by 6.2% in the third quarter. Formidable Asset Management LLC now owns 27,935 shares of the health services provider’s stock worth $162,000 after purchasing an additional 1,625 shares during the period. 76.82% of the stock is currently owned by institutional investors and hedge funds.

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.