Bank of America Issues Positive Forecast for Teladoc Health (NYSE:TDOC) Stock Price

Teladoc Health (NYSE:TDOC) had its price target raised by Bank of America from $11.50 to $13.50 in a research note published on Wednesday,Benzinga reports. Bank of America currently has a neutral rating on the health services provider’s stock.

Several other research analysts have also recently weighed in on the company. Royal Bank of Canada boosted their target price on Teladoc Health from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. Deutsche Bank Aktiengesellschaft boosted their price objective on Teladoc Health from $10.00 to $12.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. TD Cowen cut their target price on Teladoc Health from $9.00 to $8.00 and set a “hold” rating for the company in a research note on Thursday, October 31st. Barclays boosted their price target on shares of Teladoc Health from $10.00 to $12.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Finally, Piper Sandler restated 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. Fourteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Teladoc Health has an average rating of “Hold” and a consensus price target of $12.08.

Teladoc Health Price Performance

Shares of NYSE TDOC opened at $12.51 on Wednesday. Teladoc Health has a 52 week low of $6.76 and a 52 week high of $21.74. The firm has a 50-day simple moving average of $10.16 and a 200-day simple moving average of $9.22. The company has a current ratio of 1.73, a quick ratio of 1.69 and a debt-to-equity ratio of 0.66.

Insider Activity at Teladoc Health

In related news, insider Carlos Nueno sold 2,389 shares of Teladoc Health 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 completion of the transaction, the insider now directly owns 2,890 shares in the company, valued at approximately $34,477.70. This trade represents a 45.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.95% of the company’s stock.

Hedge Funds Weigh In On Teladoc Health

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Versant Capital Management Inc raised its holdings in Teladoc Health by 313.8% in the fourth quarter. Versant Capital Management Inc now owns 3,219 shares of the health services provider’s stock valued at $29,000 after acquiring an additional 2,441 shares in the last quarter. Whipplewood Advisors LLC acquired a new stake in shares of Teladoc Health in the 4th quarter valued at $29,000. Lindbrook Capital LLC lifted its position in shares of Teladoc Health by 78.9% during the 4th quarter. Lindbrook Capital LLC now owns 3,654 shares of the health services provider’s stock worth $33,000 after purchasing an additional 1,612 shares during the last quarter. Blue Trust Inc. increased its holdings in Teladoc Health by 84.5% in the third quarter. Blue Trust Inc. now owns 4,048 shares of the health services provider’s stock valued at $40,000 after buying an additional 1,854 shares during the last quarter. Finally, Generali Investments Management Co LLC acquired a new stake in Teladoc Health in the fourth quarter valued at $64,000. Hedge funds and other 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.