Teladoc Health (NYSE:TDOC) Trading Up 7% – Here’s Why

Teladoc Health, Inc. (NYSE:TDOC)’s stock price shot up 7% on Wednesday . The stock traded as high as $10.66 and last traded at $11.13. 123,921 shares changed hands during mid-day trading, a decline of 97% from the average session volume of 3,805,296 shares. The stock had previously closed at $10.40.

Wall Street Analyst Weigh In

Several research firms have recently commented on TDOC. Barclays boosted their price objective on Teladoc Health from $10.00 to $12.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Evercore ISI increased their price target on Teladoc Health from $8.00 to $9.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 8th. TD Cowen dropped their price objective on Teladoc Health from $9.00 to $8.00 and set a “hold” rating on the stock in a report on Thursday, October 31st. Piper Sandler reaffirmed an “overweight” rating and set a $13.00 target price (up previously from $11.00) on shares of Teladoc Health in a report on Wednesday, December 4th. Finally, The Goldman Sachs Group initiated coverage on shares of Teladoc Health in a research report on Friday, November 15th. They issued a “buy” rating and a $14.00 price objective on the stock. Fourteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Teladoc Health presently has an average rating of “Hold” and a consensus target price of $12.08.

Teladoc Health Price Performance

The stock has a market cap of $1.92 billion, a PE ratio of -1.93 and a beta of 1.04. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.69 and a current ratio of 1.73. The business has a 50 day moving average price of $10.02 and a two-hundred day moving average price of $9.08.

Insider Buying and Selling at Teladoc Health

In other news, insider Carlos Nueno sold 2,389 shares of the company’s 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 sale, the insider now directly owns 2,890 shares in the company, valued at $34,477.70. This represents a 45.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.95% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Teladoc Health

Hedge funds and other institutional investors have recently modified their holdings of the business. Blue Trust Inc. raised its holdings in Teladoc Health by 84.5% in the 3rd 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 period. Versant Capital Management Inc lifted its holdings in shares of Teladoc Health by 313.8% in the 4th quarter. Versant Capital Management Inc now owns 3,219 shares of the health services provider’s stock valued at $29,000 after purchasing an additional 2,441 shares during the last quarter. Westside Investment Management Inc. increased its position in Teladoc Health by 43.8% in the 4th quarter. Westside Investment Management Inc. now owns 9,200 shares of the health services provider’s stock valued at $84,000 after acquiring an additional 2,800 shares during the period. Private Advisor Group LLC raised its holdings in Teladoc Health by 26.9% during the third quarter. Private Advisor Group LLC now owns 13,990 shares of the health services provider’s stock worth $128,000 after purchasing an additional 2,962 shares in the last quarter. Finally, Whipplewood Advisors LLC acquired a new stake in shares of Teladoc Health in the fourth quarter valued at about $29,000. 76.82% of the stock is currently 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.