TD Cowen Cuts Teladoc Health (NYSE:TDOC) Price Target to $8.00

Teladoc Health (NYSE:TDOC) had its target price decreased by TD Cowen from $9.00 to $8.00 in a report released on Thursday, Benzinga reports. TD Cowen currently has a hold rating on the health services provider’s stock.

Several other brokerages have also weighed in on TDOC. DA Davidson lowered their price objective on Teladoc Health from $12.00 to $8.00 and set a “neutral” rating for the company in a report on Thursday, August 1st. Royal Bank of Canada boosted their price target on Teladoc Health from $9.00 to $10.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. Needham & Company LLC restated a “hold” rating on shares of Teladoc Health in a research note on Thursday, August 1st. Canaccord Genuity Group decreased their price objective on shares of Teladoc Health from $25.00 to $17.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Finally, Piper Sandler dropped their target price on shares of Teladoc Health from $25.00 to $10.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Fourteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $11.97.

Teladoc Health Stock Performance

Teladoc Health stock opened at $9.21 on Thursday. Teladoc Health has a 52 week low of $6.76 and a 52 week high of $22.54. The company has a current ratio of 1.66, a quick ratio of 1.62 and a debt-to-equity ratio of 0.66. The stock has a market cap of $1.58 billion, a P/E ratio of -1.60 and a beta of 0.90. The stock has a 50 day moving average of $8.48 and a 200-day moving average of $9.69.

Teladoc Health (NYSE:TDOC) last posted its quarterly earnings data on Wednesday, October 30th. The health services provider reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.10. The firm had revenue of $640.51 million for the quarter, compared to the consensus estimate of $630.50 million. Teladoc Health had a negative net margin of 37.91% and a negative return on equity of 9.40%. On average, analysts expect that Teladoc Health will post -1.18 EPS for the current fiscal year.

Insider Buying and Selling at Teladoc Health

In other news, CFO Mala Murthy sold 8,750 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $7.16, for a total transaction of $62,650.00. Following the completion of the transaction, the chief financial officer now directly owns 85,767 shares in the company, valued at approximately $614,091.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Teladoc Health news, CFO Mala Murthy sold 8,750 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $7.16, for a total value of $62,650.00. Following the transaction, the chief financial officer now owns 85,767 shares of the company’s stock, valued at approximately $614,091.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Stephany Verstraete sold 15,000 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $7.60, for a total value of $114,000.00. Following the completion of the transaction, the chief marketing officer now owns 45,158 shares of the company’s stock, valued at $343,200.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 36,588 shares of company stock worth $268,831. 0.95% of the stock is owned by company insiders.

Hedge Funds Weigh In On Teladoc Health

Several institutional investors and hedge funds have recently modified their holdings of TDOC. Signaturefd LLC grew its position in Teladoc Health by 148.7% in the second quarter. Signaturefd LLC now owns 2,868 shares of the health services provider’s stock worth $28,000 after acquiring an additional 1,715 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of Teladoc Health in the second quarter worth about $29,000. Blue Trust Inc. lifted its holdings in shares of Teladoc Health by 84.5% during the third quarter. Blue Trust Inc. now owns 4,048 shares of the health services provider’s stock worth $40,000 after buying an additional 1,854 shares during the last quarter. Doheny Asset Management CA acquired a new position in Teladoc Health during the 2nd quarter valued at $46,000. Finally, SageView Advisory Group LLC bought a new stake in shares of Teladoc Health in the first quarter valued at about $48,000. 76.82% of the stock is currently owned by hedge funds and other institutional investors.

About Teladoc Health

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.