Stock Traders Buy High Volume of Teladoc Health Call Options (NYSE:TDOC)

Teladoc Health, Inc. (NYSE:TDOC) saw some unusual options trading on Tuesday. Traders bought 34,782 call options on the company. This represents an increase of approximately 193% compared to the typical volume of 11,869 call options.

Teladoc Health Trading Up 11.6 %

TDOC traded up $0.95 on Tuesday, hitting $9.11. The company had a trading volume of 11,810,621 shares, compared to its average volume of 5,524,310. The business’s fifty day simple moving average is $8.05 and its 200 day simple moving average is $11.02. The company has a quick ratio of 1.62, a current ratio of 1.66 and a debt-to-equity ratio of 0.66. Teladoc Health has a 12-month low of $6.76 and a 12-month high of $22.54. The company has a market cap of $1.56 billion, a PE ratio of -6.44 and a beta of 0.90.

Teladoc Health (NYSE:TDOC) last announced its earnings results on Wednesday, July 31st. The health services provider reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.08. The firm had revenue of $642.44 million during the quarter, compared to analysts’ expectations of $649.34 million. Teladoc Health had a negative return on equity of 10.25% and a negative net margin of 38.54%. Equities research analysts expect that Teladoc Health will post -0.73 EPS for the current year.

Insider Activity at Teladoc Health

In other Teladoc Health news, CMO Stephany Verstraete sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $7.60, for a total transaction of $114,000.00. Following the completion of the sale, the chief marketing officer now directly owns 45,158 shares of the company’s stock, valued at $343,200.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Vidya Raman-Tangella sold 3,857 shares of Teladoc Health stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $8.14, for a total transaction of $31,395.98. Following the transaction, the insider now directly owns 33,667 shares of the company’s stock, valued at approximately $274,049.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CMO Stephany Verstraete sold 15,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $7.60, for a total transaction of $114,000.00. Following the completion of the sale, the chief marketing officer now directly owns 45,158 shares of the company’s stock, valued at $343,200.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 57,819 shares of company stock worth $442,204. 0.95% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of Teladoc Health by 194.2% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,891 shares of the health services provider’s stock worth $67,000 after acquiring an additional 4,549 shares during the last quarter. Granite Bay Wealth Management LLC bought a new stake in shares of Teladoc Health during the second quarter worth $1,111,000. Doheny Asset Management CA purchased a new stake in shares of Teladoc Health during the second quarter valued at $46,000. Clearline Capital LP grew its stake in Teladoc Health by 395.6% in the 2nd quarter. Clearline Capital LP now owns 4,364,201 shares of the health services provider’s stock worth $42,682,000 after acquiring an additional 3,483,665 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC raised its stake in shares of Teladoc Health by 32.9% during the second quarter. Susquehanna Fundamental Investments LLC now owns 265,513 shares of the health services provider’s stock valued at $2,597,000 after acquiring an additional 65,767 shares in the last quarter. Institutional investors own 76.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on TDOC shares. DA Davidson dropped their price target on shares of Teladoc Health from $12.00 to $8.00 and set a “neutral” rating for the company in a research report on Thursday, August 1st. Canaccord Genuity Group decreased their price target on Teladoc Health from $25.00 to $17.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Truist Financial dropped their price objective 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 reissued an “overweight” rating and set a $10.00 target price on shares of Teladoc Health in a research note on Tuesday, August 20th. Finally, Oppenheimer dropped their price target on Teladoc Health from $21.00 to $17.00 and set an “outperform” rating for the company in a research note on Thursday, August 1st. Fifteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $12.31.

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.