Teladoc Health (NYSE:TDOC) Updates Q3 2021 Earnings Guidance

Teladoc Health (NYSE:TDOC) issued an update on its third quarter 2021 earnings guidance on Monday morning. The company provided earnings per share guidance of $-0.780-$-0.680 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $-0.640. The company issued revenue guidance of $510 million-$520 million, compared to the consensus revenue estimate of $516.89 million.Teladoc Health also updated its FY 2021 guidance to $-3.600-$-3.350 EPS.

Shares of NYSE TDOC opened at $136.02 on Thursday. The firm has a fifty day moving average price of $138.60 and a 200-day moving average price of $152.83. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.00 and a quick ratio of 3.79. The stock has a market cap of $21.66 billion, a PE ratio of -23.99 and a beta of 0.24. Teladoc Health has a 1 year low of $120.67 and a 1 year high of $308.00.

Teladoc Health (NYSE:TDOC) last announced its quarterly earnings data on Tuesday, July 27th. The health services provider reported ($0.86) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.59) by ($0.27). The firm had revenue of $503.14 million during the quarter, compared to analysts’ expectations of $499.85 million. Teladoc Health had a negative return on equity of 1.29% and a negative net margin of 46.86%. The business’s revenue for the quarter was up 108.7% on a year-over-year basis. During the same period last year, the company earned ($0.34) earnings per share. On average, research analysts expect that Teladoc Health will post -3.53 EPS for the current year.

Several equities analysts recently weighed in on TDOC shares. BTIG Research cut their target price on shares of Teladoc Health from $300.00 to $260.00 and set a buy rating for the company in a research note on Wednesday, July 28th. Oppenheimer cut their target price on shares of Teladoc Health from $250.00 to $220.00 and set an outperform rating for the company in a research note on Wednesday, July 28th. KeyCorp cut their target price on shares of Teladoc Health from $220.00 to $180.00 and set an overweight rating for the company in a research note on Wednesday, July 28th. Citigroup cut their target price on shares of Teladoc Health from $260.00 to $225.00 and set a buy rating for the company in a research note on Wednesday, July 28th. Finally, Argus lowered shares of Teladoc Health from a buy rating to a hold rating in a research report on Monday, August 2nd. Twelve investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Buy and an average target price of $217.75.

In related news, insider Arnnon Geshuri sold 4,050 shares of Teladoc Health stock in a transaction dated Thursday, August 26th. The shares were sold at an average price of $143.29, for a total transaction of $580,324.50. Following the completion of the sale, the insider now owns 88,908 shares in the company, valued at approximately $12,739,627.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO David William Sides sold 3,420 shares of Teladoc Health stock in a transaction dated Friday, July 30th. The shares were sold at an average price of $154.38, for a total transaction of $527,979.60. Following the sale, the chief operating officer now owns 14,451 shares of the company’s stock, valued at approximately $2,230,945.38. The disclosure for this sale can be found here. Insiders sold a total of 17,470 shares of company stock valued at $2,609,504 in the last 90 days. Company insiders own 6.47% of the company’s stock.

A hedge fund recently raised its stake in Teladoc Health stock. Morgan Stanley raised its holdings in shares of Teladoc Health, Inc. (NYSE:TDOC) by 59.5% during the second quarter, according to its most recent filing with the SEC. The firm owned 2,975,722 shares of the health services provider’s stock after purchasing an additional 1,109,926 shares during the period. Morgan Stanley owned 1.87% of Teladoc Health worth $494,832,000 at the end of the most recent reporting period. 79.43% of the stock is currently owned by institutional investors and hedge funds.

About Teladoc Health

Teladoc Health, Inc engages in the provision of telehealthcare services using a technology platform via mobile devices, the Internet, video and phone. Its portfolio of services and solutions covers medical subspecialties from non-urgent, episodic needs like flu and upper respiratory infections, to chronic, complicated medical conditions like cancer and congestive heart failure.

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Earnings History and Estimates for Teladoc Health (NYSE:TDOC)

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