Piper Sandler Reiterates “Overweight” Rating for Teladoc Health (NYSE:TDOC)

Teladoc Health (NYSE:TDOC)‘s stock had its “overweight” rating reissued by analysts at Piper Sandler in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $13.00 price target on the health services provider’s stock, up from their previous price target of $11.00. Piper Sandler’s target price would indicate a potential upside of 20.43% from the stock’s current price.

Several other research firms have also recently commented on TDOC. Deutsche Bank Aktiengesellschaft raised their price target on Teladoc Health from $10.00 to $12.00 and gave the company a “hold” rating in a report on Friday, November 1st. Jefferies Financial Group upped their price target on shares of Teladoc Health from $8.00 to $10.00 and gave the stock a “hold” rating in a research note on Tuesday, September 17th. JPMorgan Chase & Co. reduced their price objective on shares of Teladoc Health from $16.00 to $9.00 and set a “neutral” rating for the company in a research note on Monday, August 26th. TD Cowen lowered their target price on shares of Teladoc Health from $9.00 to $8.00 and set a “hold” rating on the stock in a research report on Thursday, October 31st. Finally, Royal Bank of Canada lifted their price target on shares of Teladoc Health from $9.00 to $10.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. Fourteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $12.24.

Teladoc Health Price Performance

Shares of NYSE:TDOC opened at $10.80 on Wednesday. Teladoc Health has a 12 month low of $6.76 and a 12 month high of $22.54. The firm has a market capitalization of $1.86 billion, a P/E ratio of -1.87 and a beta of 0.97. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.73 and a quick ratio of 1.69. The company’s fifty day moving average price is $9.58 and its 200 day moving average price is $9.23.

Teladoc Health (NYSE:TDOC) last issued its quarterly earnings data on Wednesday, October 30th. The health services provider reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.10. The company had revenue of $640.51 million during the quarter, compared to analysts’ expectations of $630.50 million. Teladoc Health had a negative return on equity of 10.06% and a negative net margin of 37.91%. As a group, sell-side analysts predict that Teladoc Health will post -1.16 earnings per share for the current fiscal year.

Insider Transactions at Teladoc Health

In related news, insider Carlos Nueno sold 2,389 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $11.93, for a total transaction of $28,500.77. Following the transaction, the insider now directly owns 2,890 shares of the company’s stock, valued at approximately $34,477.70. The trade was a 45.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Thomas Mckinley acquired 4,000 shares of the stock in a transaction on Thursday, September 12th. The stock was purchased at an average cost of $7.69 per share, with a total value of $30,760.00. Following the transaction, the director now directly owns 39,077 shares of the company’s stock, valued at $300,502.13. This represents a 11.40 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.95% of the company’s stock.

Institutional Investors Weigh In On Teladoc Health

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of 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 buying an additional 228,004 shares in the last quarter. 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 in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Teladoc Health by 195.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 95,307 shares of the health services provider’s stock worth $932,000 after purchasing an additional 63,028 shares during the last quarter. Jennison Associates LLC acquired a new stake in shares of Teladoc Health in the 3rd quarter valued at about $1,544,000. Finally, Massachusetts Financial Services Co. MA grew its stake in Teladoc Health by 477.1% in 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 purchasing an additional 305,961 shares in the last quarter. 76.82% of the stock is currently owned by hedge funds and other institutional investors.

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.