Teladoc Health (NYSE:TDOC) Shares Gap Up – What’s Next?

Teladoc Health, Inc. (NYSE:TDOC) shares gapped up prior to trading on Friday . The stock had previously closed at $8.96, but opened at $9.66. Teladoc Health shares last traded at $8.93, with a volume of 1,243,467 shares trading hands.

Wall Street Analyst Weigh In

Several research firms recently commented on TDOC. Jefferies Financial Group raised their price target on shares of Teladoc Health from $8.00 to $10.00 and gave the company a “hold” rating in a research report on Tuesday, September 17th. Canaccord Genuity Group reduced their price target on Teladoc Health from $25.00 to $17.00 and set a “buy” rating for the company in a report on Thursday, August 1st. TD Cowen cut their price target on shares of Teladoc Health from $9.00 to $8.00 and set a “hold” rating for the company in a report on Thursday, October 31st. Cantor Fitzgerald restated an “overweight” rating and set a $10.00 price target on shares of Teladoc Health in a research report on Tuesday, August 20th. Finally, Truist Financial lowered their price objective on Teladoc Health from $15.00 to $10.00 and set a “hold” rating on the stock in a report on Friday, August 2nd. Fourteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $12.08.

Teladoc Health Stock Performance

The firm’s 50 day moving average price is $8.86 and its two-hundred day moving average price is $9.44. The firm has a market cap of $1.53 billion, a PE ratio of -1.55 and a beta of 0.90. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.69 and a current ratio of 1.73.

Teladoc Health (NYSE:TDOC) last issued its quarterly earnings data on Wednesday, October 30th. The health services provider reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.10. Teladoc Health had a negative return on equity of 10.06% and a negative net margin of 37.91%. The company had revenue of $640.51 million during the quarter, compared to analyst estimates of $630.50 million. On average, research analysts forecast that Teladoc Health, Inc. will post -1.19 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Thomas Mckinley purchased 4,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were bought at an average cost of $7.69 per share, for a total transaction of $30,760.00. Following the completion of the purchase, the director now directly owns 39,077 shares of the company’s stock, valued at approximately $300,502.13. This trade represents a 11.40 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Michael Willem Waters sold 4,218 shares of Teladoc Health stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $7.16, for a total value of $30,200.88. Following the completion of the sale, the chief operating officer now directly owns 78,309 shares of the company’s stock, valued at $560,692.44. The trade was a 5.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,051 shares of company stock valued at $143,565. 0.95% of the stock is currently owned by insiders.

Institutional Trading of Teladoc Health

Several hedge funds have recently made changes to their positions in the business. Point72 Asset Management L.P. increased its stake in Teladoc Health by 221.9% during the 2nd quarter. Point72 Asset Management L.P. now owns 5,303,123 shares of the health services provider’s stock worth $51,865,000 after buying an additional 3,655,436 shares during the period. Rubric Capital Management LP purchased a new position in Teladoc Health in the 2nd quarter valued at approximately $45,267,000. Clearline Capital LP grew its stake in shares of Teladoc Health by 395.6% in the second quarter. Clearline Capital LP now owns 4,364,201 shares of the health services provider’s stock worth $42,682,000 after acquiring an additional 3,483,665 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Teladoc Health during the third quarter worth $15,801,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Teladoc Health by 15.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,701,161 shares of the health services provider’s stock valued at $15,617,000 after acquiring an additional 228,004 shares in the last quarter. Institutional investors and hedge funds own 76.82% of the company’s stock.

About Teladoc Health

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.