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

Teladoc Health, Inc. (NYSE:TDOC) gapped up prior to trading on Thursday . The stock had previously closed at $9.09, but opened at $9.40. Teladoc Health shares last traded at $9.69, with a volume of 577,934 shares traded.

Analysts Set New Price Targets

Several brokerages recently commented on TDOC. Piper Sandler reiterated an “overweight” rating and set a $13.00 target price (up from $11.00) on shares of Teladoc Health in a report on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Teladoc Health from $10.00 to $12.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Royal Bank of Canada raised their price target on shares of Teladoc Health from $9.00 to $10.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. Barclays upped their price objective on shares of Teladoc Health from $10.00 to $12.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Finally, TD Cowen dropped their target price on Teladoc Health from $9.00 to $8.00 and set a “hold” rating on the stock in a research report on Thursday, October 31st. Fourteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $12.24.

Teladoc Health Stock Performance

The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.69 and a current ratio of 1.73. The stock has a market capitalization of $1.66 billion, a P/E ratio of -1.67 and a beta of 0.97. The stock has a 50 day moving average of $9.85 and a 200 day moving average of $9.05.

Teladoc Health (NYSE:TDOC) last posted its earnings results on Wednesday, October 30th. The health services provider reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.10. The firm had revenue of $640.51 million during the quarter, compared to analysts’ expectations of $630.50 million. Teladoc Health had a negative net margin of 37.91% and a negative return on equity of 10.06%. Equities analysts predict that Teladoc Health, Inc. will post -1.16 EPS for the current year.

Insider Activity at Teladoc Health

In related news, insider Carlos Nueno sold 2,389 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $11.93, for a total value of $28,500.77. Following the completion of the transaction, the insider now owns 2,890 shares in the company, valued at $34,477.70. This represents a 45.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.95% of the stock is owned by insiders.

Institutional Trading of Teladoc Health

A number of institutional investors have recently made changes to their positions in TDOC. Signaturefd LLC increased its stake in shares of Teladoc Health by 148.7% during the second quarter. Signaturefd LLC now owns 2,868 shares of the health services provider’s stock valued at $28,000 after acquiring an additional 1,715 shares during the period. International Assets Investment Management LLC bought a new position in Teladoc Health during the second quarter valued at about $29,000. Blue Trust Inc. grew its holdings in Teladoc Health by 84.5% during the third quarter. Blue Trust Inc. now owns 4,048 shares of the health services provider’s stock worth $40,000 after acquiring an additional 1,854 shares during the period. Doheny Asset Management CA bought a new stake in Teladoc Health in the second quarter worth about $46,000. Finally, Benjamin F. Edwards & Company Inc. lifted its holdings in Teladoc Health by 209.8% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 5,015 shares of the health services provider’s stock valued at $49,000 after acquiring an additional 3,396 shares during the last quarter. 76.82% of the stock is owned by institutional investors and hedge funds.

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.