Teladoc Health (NYSE:TDOC) Sees Unusually-High Trading Volume on Earnings Beat

Shares of Teladoc Health, Inc. (NYSE:TDOC - Get Free Report) saw strong trading volume on Thursday following a better than expected earnings announcement. 4,503,759 shares changed hands during mid-day trading, a decline of 17% from the previous session's volume of 5,417,872 shares.The stock last traded at $8.69 and had previously closed at $8.86.

The health services provider reported ($0.19) EPS for the quarter, topping analysts' consensus estimates of ($0.29) by $0.10. Teladoc Health had a negative net margin of 38.54% and a negative return on equity of 10.25%. The company had revenue of $640.51 million for the quarter, compared to analysts' expectations of $630.50 million.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. DA Davidson cut their price target on shares of Teladoc Health from $12.00 to $8.00 and set a "neutral" rating for the company in a report on Thursday, August 1st. Truist Financial dropped their price target on Teladoc Health from $15.00 to $10.00 and set a "hold" rating for the company in a research note on Friday, August 2nd. Cantor Fitzgerald restated an "overweight" rating and issued a $10.00 target price on shares of Teladoc Health in a research report on Tuesday, August 20th. Royal Bank of Canada increased 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. Finally, Needham & Company LLC restated a "hold" rating on shares of Teladoc Health in a report on Thursday, August 1st. Fourteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $11.86.

Insider Buying and Selling

In related news, CEO Laizer Kornwasser sold 10,879 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $8.14, for a total transaction of $88,555.06. Following the sale, the chief executive officer now directly owns 99,929 shares of the company's stock, valued at $813,422.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Laizer Kornwasser sold 10,879 shares of the firm's stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $8.14, for a total value of $88,555.06. Following the sale, the chief executive officer now owns 99,929 shares in the company, valued at approximately $813,422.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Vidya Raman-Tangella sold 3,857 shares of the company's stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $8.14, for a total value of $31,395.98. Following the sale, the insider now owns 33,667 shares of the company's stock, valued at approximately $274,049.38. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 57,377 shares of company stock worth $438,054 in the last three months. Insiders own 0.95% of the company's stock.

Institutional Trading of Teladoc Health

Several large investors have recently added to or reduced their stakes in the business. Signaturefd LLC raised its stake in shares of Teladoc Health by 148.7% in the second quarter. Signaturefd LLC now owns 2,868 shares of the health services provider's stock worth $28,000 after buying an additional 1,715 shares during the period. International Assets Investment Management LLC purchased a new position in Teladoc Health during the second quarter valued at approximately $29,000. SageView Advisory Group LLC bought a new position in shares of Teladoc Health in the first quarter worth approximately $48,000. Covestor Ltd increased its stake in shares of Teladoc Health by 58.1% in the first quarter. Covestor Ltd now owns 3,817 shares of the health services provider's stock worth $57,000 after purchasing an additional 1,403 shares in the last quarter. Finally, Blue Trust Inc. raised its position in shares of Teladoc Health by 84.5% during the 3rd quarter. Blue Trust Inc. now owns 4,048 shares of the health services provider's stock valued at $40,000 after purchasing an additional 1,854 shares during the period. 76.82% of the stock is currently owned by institutional investors.

Teladoc Health Stock Performance

The company has a market cap of $1.54 billion, a PE ratio of -6.38 and a beta of 0.91. The company has a current ratio of 1.66, a quick ratio of 1.62 and a debt-to-equity ratio of 0.66. The business's 50 day moving average is $8.41 and its two-hundred day moving average is $9.72.

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.