Teladoc Health (NYSE:TDOC) Announces Earnings Results, Beats Estimates By $0.10 EPS

Teladoc Health (NYSE:TDOC) announced its quarterly earnings data on Wednesday. The health services provider reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.10, reports. Teladoc Health had a negative return on equity of 9.40% and a negative net margin of 37.91%. The firm had revenue of $640.51 million during the quarter, compared to analyst estimates of $630.50 million.

Teladoc Health Trading Up 2.3 %

NYSE:TDOC opened at $9.21 on Friday. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of -1.60 and a beta of 0.90. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.62 and a current ratio of 1.66. Teladoc Health has a 1 year low of $6.76 and a 1 year high of $22.54. The business has a fifty day moving average of $8.48 and a 200-day moving average of $9.69.

Insider Activity at Teladoc Health

In related news, Director Thomas Mckinley bought 4,000 shares of the stock in a transaction on Thursday, September 12th. The shares were purchased at an average price of $7.69 per share, with a total value of $30,760.00. Following the purchase, the director now owns 39,077 shares in the company, valued at approximately $300,502.13. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Thomas Mckinley bought 4,000 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was purchased at an average cost of $7.69 per share, for a total transaction of $30,760.00. Following the completion of the transaction, the director now directly owns 39,077 shares of the company’s stock, valued at approximately $300,502.13. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Stephany Verstraete sold 15,000 shares of Teladoc Health stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $7.60, for a total value of $114,000.00. Following the transaction, the chief marketing officer now owns 45,158 shares in the company, valued at approximately $343,200.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,588 shares of company stock worth $268,831 over the last ninety days. 0.95% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Teladoc Health

Several hedge funds and other institutional investors have recently bought and sold shares of TDOC. Point72 Asset Management L.P. grew its stake in shares of Teladoc Health by 221.9% in 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 purchasing an additional 3,655,436 shares during the last quarter. Rubric Capital Management LP acquired a new position in Teladoc Health in the second quarter worth approximately $45,267,000. Clearline Capital LP increased its holdings 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 valued at $42,682,000 after buying an additional 3,483,665 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Teladoc Health during the 3rd quarter valued at $15,801,000. Finally, Bank of New York Mellon Corp lifted its position in shares of Teladoc Health by 1.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 916,129 shares of the health services provider’s stock valued at $8,960,000 after acquiring an additional 14,910 shares during the last quarter. 76.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TDOC has been the subject of a number of research analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Teladoc Health in a report on Thursday, August 1st. Jefferies Financial Group boosted their target price on shares of Teladoc Health from $8.00 to $10.00 and gave the company a “hold” rating in a research note on Tuesday, September 17th. Barclays raised their price target on shares of Teladoc Health from $10.00 to $12.00 and gave the stock an “overweight” rating in a research report on Thursday. Oppenheimer lowered their price objective on shares of Teladoc Health from $21.00 to $17.00 and set an “outperform” rating for the company in a research report on Thursday, August 1st. Finally, JPMorgan Chase & Co. cut their target price on shares of Teladoc Health from $16.00 to $9.00 and set a “neutral” rating on the stock in a report on Monday, August 26th. Fourteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $11.97.

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.