Teladoc Health (NYSE:TDOC) Shares Gap Up – Here’s What Happened

Teladoc Health, Inc. (NYSE:TDOC)’s share price gapped up prior to trading on Monday . The stock had previously closed at $10.62, but opened at $11.14. Teladoc Health shares last traded at $11.34, with a volume of 305,390 shares changing hands.

Analysts Set New Price Targets

TDOC has been the topic of a number of recent research reports. Canaccord Genuity Group dropped their target price on Teladoc Health from $25.00 to $17.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. JPMorgan Chase & Co. cut their price objective on shares of Teladoc Health from $16.00 to $9.00 and set a “neutral” rating on the stock in a research report on Monday, August 26th. TD Cowen decreased their target price on shares of Teladoc Health from $9.00 to $8.00 and set a “hold” rating for the company in a research report on Thursday, October 31st. Stifel Nicolaus lowered their price target on shares of Teladoc Health from $16.00 to $9.00 and set a “hold” rating on the stock in a research note on Thursday, August 1st. Finally, DA Davidson decreased their price objective on Teladoc Health from $12.00 to $8.00 and set a “neutral” rating for the company in a report on Thursday, August 1st. Fourteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $12.08.

Teladoc Health Price Performance

The stock has a market capitalization of $2.09 billion, a price-to-earnings ratio of -2.01 and a beta of 0.90. The company’s 50-day simple moving average is $9.10 and its 200-day simple moving average is $9.25. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.73 and a quick ratio of 1.69.

Teladoc Health (NYSE:TDOC) last released its quarterly earnings results on Wednesday, October 30th. The health services provider reported ($0.19) earnings per share (EPS) for the quarter, beating 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 business had revenue of $640.51 million during the quarter, compared to the consensus estimate of $630.50 million. Research analysts forecast that Teladoc Health, Inc. will post -1.16 earnings per share for the current fiscal year.

Insider Activity at Teladoc Health

In other news, CFO Mala Murthy sold 8,750 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $7.16, for a total transaction of $62,650.00. Following the completion of the sale, the chief financial officer now owns 85,767 shares of the company’s stock, valued at approximately $614,091.72. This represents a 9.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Michael Willem Waters sold 4,218 shares of Teladoc Health stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $7.16, for a total transaction of $30,200.88. Following the completion of the transaction, the chief operating officer now directly owns 78,309 shares in the company, valued at $560,692.44. This trade represents a 5.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,051 shares of company stock worth $143,565. Company insiders own 0.95% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Point72 Asset Management L.P. boosted its stake in shares of Teladoc Health by 57.8% during the third quarter. Point72 Asset Management L.P. now owns 8,366,295 shares of the health services provider’s stock valued at $76,803,000 after purchasing an additional 3,063,172 shares in the last quarter. Rubric Capital Management LP acquired a new stake in Teladoc Health during the 2nd quarter worth approximately $45,267,000. Clearline Capital LP grew its holdings in Teladoc Health by 395.6% during the 2nd 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 during the last quarter. Geode Capital Management LLC raised its stake in shares of Teladoc Health by 1.5% during the third quarter. Geode Capital Management LLC now owns 3,925,167 shares of the health services provider’s stock valued at $36,042,000 after acquiring an additional 56,864 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Teladoc Health during the third quarter worth $15,801,000. 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.