Teladoc Health (NYSE:TDOC) Price Target Cut to $160.00

Teladoc Health (NYSE:TDOC) had its price objective reduced by analysts at Canaccord Genuity from $188.00 to $160.00 in a research report issued on Tuesday, The Fly reports. The brokerage presently has a “buy” rating on the health services provider’s stock. Canaccord Genuity’s price objective points to a potential upside of 46.68% from the stock’s previous close.

A number of other research analysts have also issued reports on the company. Needham & Company LLC dropped their target price on Teladoc Health from $205.00 to $170.00 and set a “buy” rating on the stock in a report on Thursday, October 28th. Royal Bank of Canada dropped their target price on Teladoc Health from $260.00 to $215.00 and set an “outperform” rating on the stock in a report on Monday, November 15th. Cantor Fitzgerald dropped their target price on Teladoc Health from $185.00 to $150.00 and set a “neutral” rating on the stock in a report on Thursday, October 28th. Oppenheimer decreased their price target on Teladoc Health from $200.00 to $185.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, Piper Sandler decreased their price target on Teladoc Health from $291.00 to $183.00 and set an “overweight” rating on the stock in a research note on Thursday, October 28th. Fifteen analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Teladoc Health has a consensus rating of “Hold” and an average price target of $181.56.

TDOC opened at $109.08 on Tuesday. The firm has a market cap of $17.46 billion, a price-to-earnings ratio of -18.90 and a beta of 0.33. Teladoc Health has a 52 week low of $107.75 and a 52 week high of $308.00. The business’s 50 day moving average is $136.64 and its two-hundred day moving average is $145.05. The company has a quick ratio of 3.64, a current ratio of 3.83 and a debt-to-equity ratio of 0.08.

Teladoc Health (NYSE:TDOC) last released its earnings results on Wednesday, October 27th. The health services provider reported ($0.53) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.70) by $0.17. The business had revenue of $521.70 million for the quarter, compared to analyst estimates of $516.79 million. Teladoc Health had a negative return on equity of 1.47% and a negative net margin of 43.60%. The company’s revenue for the quarter was up 80.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.13) earnings per share. Equities analysts expect that Teladoc Health will post -3.2 EPS for the current fiscal year.

In other news, insider Arnnon Geshuri sold 523 shares of the company’s stock in a transaction on Monday, November 1st. The stock was sold at an average price of $150.66, for a total value of $78,795.18. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Adam C. Vandervoort sold 2,000 shares of the company’s stock in a transaction on Friday, October 15th. The shares were sold at an average price of $137.09, for a total value of $274,180.00. The disclosure for this sale can be found here. Insiders sold 23,160 shares of company stock worth $3,370,130 over the last 90 days. Company insiders own 6.47% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. ARK Investment Management LLC increased its stake in Teladoc Health by 11.0% in the second quarter. ARK Investment Management LLC now owns 16,016,998 shares of the health services provider’s stock valued at $2,663,467,000 after purchasing an additional 1,592,818 shares during the last quarter. Vanguard Group Inc. increased its stake in Teladoc Health by 3.0% in the second quarter. Vanguard Group Inc. now owns 12,300,190 shares of the health services provider’s stock valued at $2,045,398,000 after purchasing an additional 353,835 shares during the last quarter. Baillie Gifford & Co. increased its stake in Teladoc Health by 4.6% in the third quarter. Baillie Gifford & Co. now owns 8,805,307 shares of the health services provider’s stock valued at $1,116,602,000 after purchasing an additional 388,063 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Teladoc Health by 27.8% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,804,300 shares of the health services provider’s stock valued at $989,663,000 after purchasing an additional 1,697,159 shares during the last quarter. Finally, Nikko Asset Management Americas Inc. increased its stake in Teladoc Health by 30.1% during the third quarter. Nikko Asset Management Americas Inc. now owns 7,405,282 shares of the health services provider’s stock worth $933,140,000 after acquiring an additional 1,714,753 shares during the last quarter. Hedge funds and other institutional investors own 80.67% of the company’s stock.

Teladoc Health Company Profile

Teladoc Health, Inc engages in the provision of telehealthcare services using a technology platform via mobile devices, the Internet, video and phone. Its portfolio of services and solutions covers medical subspecialties from non-urgent, episodic needs like flu and upper respiratory infections, to chronic, complicated medical conditions like cancer and congestive heart failure.

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