Teladoc Health (NYSE:TDOC) Shares Gap Down on Disappointing Earnings

Teladoc Health, Inc. (NYSE:TDOC)’s stock price gapped down before the market opened on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $10.99, but opened at $9.90. Teladoc Health shares last traded at $9.38, with a volume of 6,928,751 shares changing hands.

The health services provider reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.07). The business had revenue of $640.49 million during the quarter, compared to the consensus estimate of $639.44 million. Teladoc Health had a negative return on equity of 10.06% and a negative net margin of 37.91%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on TDOC. Royal Bank of Canada upped their price target on shares of Teladoc Health from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Friday, January 24th. Piper Sandler cut 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. Oppenheimer lowered their price target on Teladoc Health from $14.00 to $12.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. TD Cowen cut their price objective on Teladoc Health from $9.00 to $8.00 and set a “hold” rating for the company in a report on Thursday, October 31st. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Teladoc Health in a report on Thursday. Eleven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Teladoc Health currently has a consensus rating of “Hold” and a consensus target price of $11.44.

Insider Activity

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 value of $28,500.77. Following the completion of the sale, the insider now 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.95% of the stock is currently owned by corporate insiders.

Institutional Trading of Teladoc Health

A number of institutional investors have recently added to or reduced their stakes in TDOC. Arizona State Retirement System increased its stake in shares of Teladoc Health by 1.8% during the 4th quarter. Arizona State Retirement System now owns 49,691 shares of the health services provider’s stock worth $452,000 after purchasing an additional 859 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its position in Teladoc Health by 9.6% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 12,456 shares of the health services provider’s stock worth $113,000 after buying an additional 1,089 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in shares of Teladoc Health by 0.5% in the fourth quarter. Canada Pension Plan Investment Board now owns 228,700 shares of the health services provider’s stock worth $2,079,000 after buying an additional 1,200 shares during the last quarter. Summit Investment Advisors Inc. lifted its position in shares of Teladoc Health by 8.0% in the fourth quarter. Summit Investment Advisors Inc. now owns 18,009 shares of the health services provider’s stock worth $164,000 after buying an additional 1,331 shares during the last quarter. Finally, Vise Technologies Inc. boosted its stake in shares of Teladoc Health by 4.9% during the 4th quarter. Vise Technologies Inc. now owns 30,179 shares of the health services provider’s stock worth $274,000 after acquiring an additional 1,405 shares in the last quarter. 76.82% of the stock is currently owned by institutional investors and hedge funds.

Teladoc Health Stock Performance

The stock has a fifty day moving average price of $10.62 and a 200 day moving average price of $9.53. The company has a current ratio of 1.73, a quick ratio of 1.69 and a debt-to-equity ratio of 0.66. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of -1.64 and a beta of 1.04.

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.