Teladoc Health (NYSE:TDOC) Shares Gap Down – Here’s Why

Teladoc Health, Inc. (NYSE:TDOC)’s share price gapped down before the market opened on Friday . The stock had previously closed at $9.39, but opened at $9.11. Teladoc Health shares last traded at $9.35, with a volume of 410,283 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on TDOC shares. Needham & Company LLC reiterated a “hold” rating on shares of Teladoc Health in a research report on Thursday, February 27th. Piper Sandler lowered their target price on Teladoc Health from $13.00 to $12.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Bank of America boosted their price target on shares of Teladoc Health from $11.50 to $13.50 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Royal Bank of Canada increased their price objective on shares of Teladoc Health from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday, January 24th. Finally, Oppenheimer reduced their target price on shares of Teladoc Health from $14.00 to $12.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. Eleven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $11.26.

Teladoc Health Stock Down 3.5 %

The company has a market capitalization of $1.57 billion, a price-to-earnings ratio of -1.57 and a beta of 1.27. The firm’s 50-day simple moving average is $10.62 and its two-hundred day simple moving average is $9.62. 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 posted its quarterly earnings data on Wednesday, February 26th. The health services provider reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.07). Teladoc Health had a negative return on equity of 10.06% and a negative net margin of 37.91%. The business had revenue of $640.49 million for the quarter, compared to analyst estimates of $639.44 million. Sell-side analysts predict that Teladoc Health, Inc. will post -1.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Teladoc Health

A number of hedge funds have recently bought and sold shares of TDOC. Connor Clark & Lunn Investment Management Ltd. raised its stake in Teladoc Health by 15.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,701,161 shares of the health services provider’s stock worth $15,617,000 after acquiring an additional 228,004 shares during the period. Jennison Associates LLC bought a new stake in shares of Teladoc Health during the third quarter valued at approximately $1,544,000. Massachusetts Financial Services Co. MA boosted its position in shares of Teladoc Health by 477.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 370,093 shares of the health services provider’s stock worth $3,397,000 after buying an additional 305,961 shares during the period. Geode Capital Management LLC increased its stake in Teladoc Health by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 3,925,167 shares of the health services provider’s stock valued at $36,042,000 after buying an additional 56,864 shares during the period. Finally, Maple Rock Capital Partners Inc. bought a new stake in shares of Teladoc Health in the 3rd quarter worth $11,291,000. 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.