Teladoc Health (NYSE:TDOC) Stock Dropped to “Sell” by Argus

Teladoc Health (NYSE:TDOC) was downgraded by Argus from a “hold” rating to a “sell” rating in a research report issued on Monday, Marketbeat.com reports.

A number of other brokerages have also commented on TDOC. Weiss Ratings reiterated a “sell (d-)” rating on shares of Teladoc Health in a research note on Wednesday, August 19th. Bank of America raised their target price on shares of Teladoc Health from $9.00 to $10.50 and gave the stock a “buy” rating in a report on Tuesday, July 7th. JPMorgan Chase & Co. raised their target price on shares of Teladoc Health from $8.00 to $10.00 and gave the stock a “neutral” rating in a report on Friday. Canaccord Genuity Group cut their target price on shares of Teladoc Health from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Finally, Citigroup decreased their target price on shares of Teladoc Health from $11.00 to $7.50 and set a “neutral” rating for the company in a research note on Monday, August 3rd. Five analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $7.77.

Teladoc Health Price Performance

Teladoc Health stock opened at $8.52 on Monday. Teladoc Health has a one year low of $4.40 and a one year high of $9.89. The business’s fifty day moving average is $6.23 and its 200 day moving average is $6.47. The stock has a market capitalization of $1.55 billion, a PE ratio of -9.91 and a beta of 2.00.

Teladoc Health (NYSE:TDOC) last issued its earnings results on Wednesday, October 28th. The health services provider reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.07. The business had revenue of $605.10 million during the quarter, compared to analyst estimates of $588.14 million. Teladoc Health had a negative return on equity of 11.63% and a negative net margin of 6.27%. Teladoc Health’s revenue was down 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.28) EPS. As a group, sell-side analysts expect that Teladoc Health will post -0.89 EPS for the current fiscal year.

Insider Buying and Selling at Teladoc Health

In related news, CEO Charles III sold 17,805 shares of the firm’s stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $6.10, for a total value of $108,610.50. Following the transaction, the chief executive officer owned 465,535 shares of the company’s stock, valued at approximately $2,839,763.50. This trade represents a 3.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.70% of the stock is owned by company insiders.

Institutional Trading of Teladoc Health

Several large investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC raised its position in Teladoc Health by 1.3% in the first quarter. Renaissance Technologies LLC now owns 8,085,542 shares of the health services provider’s stock worth $44,066,000 after acquiring an additional 107,400 shares during the period. Pale Fire Capital SE grew its position in shares of Teladoc Health by 74.8% during the 1st quarter. Pale Fire Capital SE now owns 3,398,491 shares of the health services provider’s stock valued at $18,522,000 after acquiring an additional 1,454,288 shares during the period. Monaco Asset Management SAM purchased a new stake in shares of Teladoc Health in the 2nd quarter worth $26,864,000. Quantinno Capital Management LP increased its stake in shares of Teladoc Health by 128.0% in the 1st quarter. Quantinno Capital Management LP now owns 2,621,378 shares of the health services provider’s stock worth $14,287,000 after purchasing an additional 1,471,631 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC increased its stake in shares of Teladoc Health by 1,017.4% in the 3rd quarter. Counterpoint Mutual Funds LLC now owns 1,650,165 shares of the health services provider’s stock worth $9,571,000 after purchasing an additional 1,502,488 shares in the last quarter. 76.82% of the stock is currently owned by institutional investors.

About Teladoc Health

Teladoc Health, Inc provides virtual healthcare services and technology designed to connect patients with medical professionals remotely. Through its digital platforms, the company supports a range of healthcare needs, including general medical consultations, mental health services, specialty care, and ongoing management of chronic conditions.

Its offerings include telehealth visits with physicians and other licensed providers, behavioral health services through BetterHelp, and chronic care programs that use digital tools and clinical support to help people manage conditions such as diabetes and hypertension.