Teladoc Health (NYSE:TDOC) Stock Price Up 7% - Should You Buy?

Teladoc Health, Inc. (NYSE:TDOC - Get Free Report)'s stock price shot up 7% on Wednesday . The stock traded as high as $10.66 and last traded at $11.13. 123,921 shares changed hands during mid-day trading, a decline of 97% from the average session volume of 3,805,296 shares. The stock had previously closed at $10.40.

Wall Street Analyst Weigh In

Several research analysts have commented on TDOC shares. Bank of America upped their price objective on shares of Teladoc Health from $10.50 to $11.50 and gave the stock a "neutral" rating in a report on Thursday. Deutsche Bank Aktiengesellschaft increased their price target on shares of Teladoc Health from $10.00 to $12.00 and gave the stock a "hold" rating in a research note on Friday, November 1st. Piper Sandler reaffirmed an "overweight" rating and set a $13.00 price objective (up from $11.00) on shares of Teladoc Health in a research report on Wednesday, December 4th. The Goldman Sachs Group assumed coverage on Teladoc Health in a research report on Friday, November 15th. They issued a "buy" rating and a $14.00 target price for the company. Finally, Oppenheimer reduced their price target on Teladoc Health from $14.00 to $12.00 and set an "outperform" rating on the stock in a research note on Friday, January 24th. Fourteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $11.97.

Teladoc Health Stock Performance

The company has a current ratio of 1.73, a quick ratio of 1.69 and a debt-to-equity ratio of 0.66. The business has a fifty day moving average price of $10.05 and a 200-day moving average price of $9.14.

Insider Buying and Selling at Teladoc Health

In other news, insider Carlos Nueno sold 2,389 shares of the firm's stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $11.93, for a total value of $28,500.77. Following the transaction, the insider now directly owns 2,890 shares in the company, valued at $34,477.70. This trade represents a 45.25 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.95% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Teladoc Health by 15.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,701,161 shares of the health services provider's stock valued at $15,617,000 after purchasing an additional 228,004 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Teladoc Health by 195.3% during the second quarter. The Manufacturers Life Insurance Company now owns 95,307 shares of the health services provider's stock valued at $932,000 after buying an additional 63,028 shares during the period. Jennison Associates LLC purchased a new stake in Teladoc Health during the third quarter valued at approximately $1,544,000. Massachusetts Financial Services Co. MA raised its position in Teladoc Health by 477.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 370,093 shares of the health services provider's stock worth $3,397,000 after acquiring an additional 305,961 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Teladoc Health by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 3,925,167 shares of the health services provider's stock worth $36,042,000 after acquiring an additional 56,864 shares during the last quarter. Institutional investors own 76.82% of the company's stock.

Teladoc Health Company Profile

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.