Teladoc Health (NYSE:TDOC) Receives Buy Rating from Piper Sandler

Piper Sandler reiterated their buy rating on shares of Teladoc Health (NYSE:TDOC) in a research report released on Tuesday morning, TipRanks reports. The brokerage currently has a $220.00 price objective on the health services provider’s stock.

TDOC has been the topic of several other reports. Berenberg Bank lowered Teladoc Health from a buy rating to a hold rating in a report on Tuesday, March 31st. Wells Fargo & Co raised their target price on Teladoc Health from $105.00 to $135.00 and gave the stock an equal weight rating in a report on Thursday, April 16th. CSFB increased their price target on Teladoc Health from $152.00 to $165.00 and gave the stock a neutral rating in a research report on Thursday, April 30th. Canaccord Genuity increased their price target on Teladoc Health from $130.00 to $195.00 and gave the stock a buy rating in a research report on Thursday, April 30th. Finally, Zacks Investment Research downgraded Teladoc Health from a buy rating to a hold rating and set a $171.00 price target on the stock. in a research report on Thursday, May 28th. Fifteen analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $161.58.

Teladoc Health stock opened at $190.84 on Tuesday. The firm has a market cap of $14.21 billion, a price-to-earnings ratio of -141.36 and a beta of 0.44. Teladoc Health has a 52 week low of $54.58 and a 52 week high of $208.63. The business’s 50-day moving average price is $179.63 and its 200 day moving average price is $137.81. The company has a quick ratio of 6.14, a current ratio of 6.14 and a debt-to-equity ratio of 0.45.

Teladoc Health (NYSE:TDOC) last posted its earnings results on Wednesday, April 29th. The health services provider reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.05). The company had revenue of $180.80 million for the quarter, compared to analyst estimates of $180.64 million. Teladoc Health had a negative return on equity of 10.60% and a negative net margin of 16.24%. The firm’s revenue was up 40.6% on a year-over-year basis. During the same period last year, the business earned ($0.43) earnings per share. Equities analysts expect that Teladoc Health will post -1.12 EPS for the current year.

In related news, Director William H. Frist sold 370 shares of Teladoc Health stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $180.00, for a total transaction of $66,600.00. Following the transaction, the director now owns 5,788 shares in the company, valued at $1,041,840. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CMO Stephany Verstraete sold 2,000 shares of Teladoc Health stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $205.00, for a total value of $410,000.00. Following the transaction, the chief marketing officer now owns 15,276 shares in the company, valued at approximately $3,131,580. The disclosure for this sale can be found here. In the last 90 days, insiders sold 283,958 shares of company stock worth $48,771,007. Company insiders own 3.42% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. State Street Corp increased its stake in Teladoc Health by 0.6% during the first quarter. State Street Corp now owns 1,487,275 shares of the health services provider’s stock worth $230,542,000 after acquiring an additional 8,764 shares during the last quarter. Cunning Capital Partners LP acquired a new stake in Teladoc Health during the first quarter worth $1,085,000. Pathstone Family Office LLC acquired a new stake in Teladoc Health during the first quarter worth $31,000. 1832 Asset Management L.P. acquired a new stake in Teladoc Health during the first quarter worth $2,750,000. Finally, The Manufacturers Life Insurance Company increased its stake in Teladoc Health by 6.6% during the first quarter. The Manufacturers Life Insurance Company now owns 45,418 shares of the health services provider’s stock worth $7,040,000 after acquiring an additional 2,806 shares during the last quarter. Hedge funds and other institutional investors own 97.66% of the company’s stock.

About Teladoc Health

Teladoc Health, Inc provides telehealth services. It offers a portfolio of services and solutions covering 450 medical subspecialties, such as flu and upper respiratory infections, cancer, and congestive heart failure. The company provides its services through mobile devices, the Internet, video, and phone.

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Analyst Recommendations for Teladoc Health (NYSE:TDOC)

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