Teladoc Health (NYSE:TDOC) Given New $8.00 Price Target at Wells Fargo & Company

Teladoc Health (NYSE:TDOC) had its price objective raised by Wells Fargo & Company from $6.00 to $8.00 in a research report sent to investors on Thursday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the health services provider’s stock.

Several other research firms have also recently issued reports on TDOC. Truist Financial cut their price target on shares of Teladoc Health from $9.00 to $8.00 and set a “hold” rating on the stock in a report on Friday, August 14th. Needham & Company LLC reiterated a “hold” rating on shares of Teladoc Health in a research note on Thursday, October 29th. UBS Group raised their price objective on shares of Teladoc Health from $6.50 to $9.00 and gave the stock a “neutral” rating in a report on Monday. Weiss Ratings reissued a “sell (d-)” rating on shares of Teladoc Health in a research report on Wednesday, August 19th. Finally, Barclays boosted their target price on shares of Teladoc Health from $7.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Five investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $8.40.

Teladoc Health Price Performance

NYSE:TDOC opened at $9.43 on Thursday. Teladoc Health has a 1-year low of $4.40 and a 1-year high of $9.89. The firm has a 50-day moving average of $6.46 and a two-hundred day moving average of $6.52. The stock has a market cap of $1.72 billion, a P/E ratio of -10.96 and a beta of 2.00.

Teladoc Health (NYSE:TDOC) last issued its quarterly earnings results on Wednesday, October 28th. The health services provider reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.07. The firm had revenue of $605.10 million during the quarter, compared to the consensus estimate 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 for the quarter was down 3.4% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.28) earnings per share. As a group, equities analysts expect that Teladoc Health will post -0.86 earnings per share for the current year.

Insider Buying and Selling at Teladoc Health

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

Institutional Trading of Teladoc Health

Institutional investors have recently added to or reduced their stakes in the business. AlphaCore Capital LLC bought a new position in Teladoc Health during the 3rd quarter worth $92,000. Fulcrum Asset Management LLP acquired a new stake in Teladoc Health in the third quarter worth $117,000. Formidable Asset Management LLC lifted its stake in Teladoc Health by 6.2% in the third quarter. Formidable Asset Management LLC now owns 27,935 shares of the health services provider’s stock valued at $162,000 after buying an additional 1,625 shares during the last quarter. Platform Technology Partners bought a new stake in Teladoc Health in the third quarter valued at $91,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Teladoc Health in the third quarter valued at $60,000. Institutional investors own 76.82% of the company’s stock.

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.