Teladoc Health (NYSE:TDOC) Price Target Cut to $12.00 by Analysts at Piper Sandler

Teladoc Health (NYSE:TDOC) had its price target lowered by research analysts at Piper Sandler from $13.00 to $12.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the health services provider’s stock. Piper Sandler’s price objective points to a potential upside of 10.04% from the stock’s previous close.

Other analysts have also recently issued reports about the company. Deutsche Bank Aktiengesellschaft lifted their price objective on Teladoc Health from $10.00 to $12.00 and gave the company a “hold” rating in a research report on Friday, November 1st. TD Cowen reduced their price target on Teladoc Health from $9.00 to $8.00 and set a “hold” rating on the stock in a research note on Thursday, October 31st. Needham & Company LLC reissued a “hold” rating on shares of Teladoc Health in a research report on Thursday. Barclays upped their target price on shares of Teladoc Health from $10.00 to $12.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Finally, Bank of America lifted their price target on shares of Teladoc Health from $11.50 to $13.50 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. Eleven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Teladoc Health currently has an average rating of “Hold” and a consensus price target of $11.44.

Teladoc Health Price Performance

Shares of Teladoc Health stock opened at $10.91 on Thursday. The business has a 50 day moving average of $10.61 and a 200 day moving average of $9.53. Teladoc Health has a 52 week low of $6.76 and a 52 week high of $15.95. The company has a market cap of $1.88 billion, a PE ratio of -1.89 and a beta of 1.04. The company has a quick ratio of 1.69, a current ratio of 1.73 and a debt-to-equity ratio of 0.66.

Teladoc Health (NYSE:TDOC) last issued its quarterly earnings data on Wednesday, February 26th. The health services provider reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.07). The company had revenue of $640.49 million during the quarter, compared to the consensus estimate of $639.44 million. Teladoc Health had a negative return on equity of 10.06% and a negative net margin of 37.91%. As a group, equities research analysts forecast that Teladoc Health will post -1.16 earnings per share for the current year.

Insider Activity at Teladoc Health

In related news, insider Carlos Nueno sold 2,389 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $11.93, for a total transaction of $28,500.77. Following the transaction, the insider now owns 2,890 shares in the company, valued at $34,477.70. This represents a 45.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.95% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Teladoc Health

Hedge funds and other institutional investors have recently modified their holdings of the company. Point72 Asset Management L.P. increased its position in Teladoc Health by 57.8% during the third quarter. Point72 Asset Management L.P. now owns 8,366,295 shares of the health services provider’s stock valued at $76,803,000 after acquiring an additional 3,063,172 shares during the last quarter. Maple Rock Capital Partners Inc. grew its stake in shares of Teladoc Health by 189.5% during the 4th quarter. Maple Rock Capital Partners Inc. now owns 3,561,000 shares of the health services provider’s stock valued at $32,369,000 after purchasing an additional 2,331,000 shares during the period. Two Sigma Investments LP purchased a new stake in shares of Teladoc Health during the 4th quarter valued at about $18,348,000. Two Sigma Advisers LP lifted its stake in shares of Teladoc Health by 213.0% in the 4th quarter. Two Sigma Advisers LP now owns 2,258,711 shares of the health services provider’s stock worth $20,532,000 after purchasing an additional 1,537,094 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of Teladoc Health by 5.9% in the fourth quarter. Vanguard Group Inc. now owns 18,463,155 shares of the health services provider’s stock worth $167,830,000 after buying an additional 1,029,829 shares during the last quarter. 76.82% of the stock is owned by 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.