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Short Interest in Teladoc Health, Inc. (NYSE:TDOC) Drops By 19.0%

Teladoc Health logo with Medical background

Teladoc Health, Inc. (NYSE:TDOC - Get Free Report) was the target of a significant drop in short interest during the month of March. As of March 31st, there was short interest totalling 21,720,000 shares, a drop of 19.0% from the March 15th total of 26,820,000 shares. Approximately 12.7% of the shares of the company are short sold. Based on an average daily trading volume, of 7,660,000 shares, the short-interest ratio is presently 2.8 days.

Insider Buying and Selling

In other news, insider Adam C. Vandervoort sold 11,011 shares of the firm's stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $8.42, for a total value of $92,712.62. Following the completion of the transaction, the insider now directly owns 64,308 shares in the company, valued at approximately $541,473.36. This trade represents a 14.62 % 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 the SEC website. 0.95% of the stock is currently owned by corporate insiders.

Institutional Trading of Teladoc Health

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Golden State Wealth Management LLC increased its position in shares of Teladoc Health by 102.6% during the 1st quarter. Golden State Wealth Management LLC now owns 3,337 shares of the health services provider's stock valued at $27,000 after purchasing an additional 1,690 shares during the last quarter. Versant Capital Management Inc increased its holdings in Teladoc Health by 313.8% during the 4th quarter. Versant Capital Management Inc now owns 3,219 shares of the health services provider's stock worth $29,000 after purchasing an additional 2,441 shares during the period. Whipplewood Advisors LLC purchased a new position in Teladoc Health during the 4th quarter worth $29,000. Lindbrook Capital LLC increased its holdings in Teladoc Health by 78.9% during the 4th quarter. Lindbrook Capital LLC now owns 3,654 shares of the health services provider's stock worth $33,000 after purchasing an additional 1,612 shares during the period. Finally, Sterling Capital Management LLC increased its holdings in Teladoc Health by 776.7% during the 4th quarter. Sterling Capital Management LLC now owns 4,629 shares of the health services provider's stock worth $42,000 after purchasing an additional 4,101 shares during the period. 76.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on TDOC shares. Oppenheimer lowered their target price on shares of Teladoc Health from $14.00 to $12.00 and set an "outperform" rating on the stock in a research note on Friday, January 24th. Needham & Company LLC reaffirmed a "hold" rating on shares of Teladoc Health in a research note on Thursday, February 27th. Royal Bank of Canada raised their target price on shares of Teladoc Health from $11.00 to $12.00 and gave the company an "outperform" rating in a research note on Friday, January 24th. Piper Sandler lowered their target price on shares of Teladoc Health from $13.00 to $12.00 and set an "overweight" rating on the stock in a research note on Thursday, February 27th. Finally, The Goldman Sachs Group lowered their target price on shares of Teladoc Health from $16.00 to $13.00 and set a "buy" rating on the stock in a research note on Monday, March 3rd. Eleven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $10.82.

View Our Latest Analysis on Teladoc Health

Teladoc Health Stock Performance

NYSE:TDOC traded up $0.15 during trading hours on Thursday, reaching $7.22. The company had a trading volume of 261,347 shares, compared to its average volume of 6,235,038. The firm's 50 day moving average price is $8.78 and its 200-day moving average price is $9.59. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of -1.25 and a beta of 1.73. Teladoc Health has a 52 week low of $6.35 and a 52 week high of $15.21. The company has a current ratio of 1.73, a quick ratio of 1.69 and a debt-to-equity ratio of 0.66.

Teladoc Health (NYSE:TDOC - Get Free Report) last released its earnings results on Wednesday, February 26th. The health services provider reported ($0.28) earnings per share for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.07). Teladoc Health had a negative net margin of 37.91% and a negative return on equity of 10.06%. The firm had revenue of $640.49 million for the quarter, compared to analysts' expectations of $639.44 million. On average, analysts forecast that Teladoc Health will post -1.16 EPS for the current year.

Teladoc Health Company Profile

(Get Free Report)

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.

Further Reading

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