Teladoc Health (NYSE:TDOC) Trading Down 7.3% - What's Next?

Teladoc Health, Inc. (NYSE:TDOC - Get Free Report) fell 7.3% during mid-day trading on Monday . The company traded as low as $8.34 and last traded at $8.54. 1,965,935 shares traded hands during mid-day trading, a decline of 64% from the average session volume of 5,459,042 shares. The stock had previously closed at $9.21.

Analyst Ratings Changes

A number of brokerages recently issued reports on TDOC. Oppenheimer decreased their target price on Teladoc Health from $21.00 to $17.00 and set an "outperform" rating on the stock in a report on Thursday, August 1st. JPMorgan Chase & Co. dropped their target price on shares of Teladoc Health from $16.00 to $9.00 and set a "neutral" rating on the stock in a research report on Monday, August 26th. Piper Sandler dropped their target price on shares of Teladoc Health from $25.00 to $10.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Teladoc Health from $10.00 to $12.00 and gave the stock a "hold" rating in a research report on Friday. Finally, Evercore ISI lifted their price objective on shares of Teladoc Health from $8.00 to $9.00 and gave the stock an "in-line" rating in a research report on Tuesday, October 8th. Fourteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $11.97.

Teladoc Health Stock Performance

The company has a market cap of $1.52 billion, a P/E ratio of -1.50 and a beta of 0.90. The firm has a 50 day moving average price of $8.48 and a 200-day moving average price of $9.64. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.62 and a current ratio of 1.66.

Teladoc Health (NYSE:TDOC - Get Free Report) last announced its earnings results on Wednesday, October 30th. The health services provider reported ($0.19) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.29) by $0.10. The firm 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 9.40% and a negative net margin of 37.91%. On average, research analysts predict that Teladoc Health, Inc. will post -1.18 EPS for the current year.

Insider Buying and Selling

In other Teladoc Health news, CMO Stephany Verstraete sold 15,000 shares of the company's stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $7.60, for a total transaction of $114,000.00. Following the completion of the sale, the chief marketing officer now directly owns 45,158 shares in the company, valued at $343,200.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CMO Stephany Verstraete sold 15,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $7.60, for a total value of $114,000.00. Following the completion of the sale, the chief marketing officer now directly owns 45,158 shares of the company's stock, valued at approximately $343,200.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mala Murthy sold 8,750 shares of the business's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $7.16, for a total transaction of $62,650.00. Following the transaction, the chief financial officer now directly owns 85,767 shares in the company, valued at $614,091.72. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 35,051 shares of company stock valued at $257,565. Company insiders own 0.95% of the company's stock.

Hedge Funds Weigh In On Teladoc Health

Several institutional investors and hedge funds have recently added to or reduced their stakes in TDOC. Point72 Asset Management L.P. lifted its position in Teladoc Health by 221.9% in the second quarter. Point72 Asset Management L.P. now owns 5,303,123 shares of the health services provider's stock worth $51,865,000 after purchasing an additional 3,655,436 shares during the period. Rubric Capital Management LP bought a new position in Teladoc Health during the second quarter worth about $45,267,000. Clearline Capital LP boosted its holdings in Teladoc Health by 395.6% during the second quarter. Clearline Capital LP now owns 4,364,201 shares of the health services provider's stock valued at $42,682,000 after purchasing an additional 3,483,665 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in Teladoc Health during the third quarter valued at approximately $15,801,000. Finally, Bank of New York Mellon Corp boosted its stake in Teladoc Health by 1.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 916,129 shares of the health services provider's stock valued at $8,960,000 after buying an additional 14,910 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 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.