Teladoc Health Target of Unusually Large Options Trading (NYSE:TDOC)

Teladoc Health, Inc. (NYSE:TDOC) saw unusually large options trading on Wednesday. Traders bought 20,867 call options on the company. This is an increase of approximately 50% compared to the average volume of 13,918 call options.

Insiders Place Their Bets

In related news, insider Carlos Nueno sold 2,389 shares of the company’s stock in a transaction dated 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 owns 2,890 shares in the company, valued at approximately $34,477.70. This represents a 45.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.95% of the company’s stock.

Institutional Investors Weigh In On Teladoc Health

A number of hedge funds have recently modified their holdings of TDOC. American Century Companies Inc. grew its position in shares of Teladoc Health by 31.0% during the 2nd quarter. American Century Companies Inc. now owns 136,351 shares of the health services provider’s stock valued at $1,334,000 after acquiring an additional 32,240 shares during the period. Vanguard Personalized Indexing Management LLC bought a new position in Teladoc Health in the 2nd quarter worth $133,000. Hsbc Holdings PLC boosted its holdings in Teladoc Health by 38.2% in the 2nd quarter. Hsbc Holdings PLC now owns 392,150 shares of the health services provider’s stock worth $3,862,000 after buying an additional 108,307 shares during the period. Benjamin F. Edwards & Company Inc. boosted its holdings in Teladoc Health by 209.8% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 5,015 shares of the health services provider’s stock worth $49,000 after buying an additional 3,396 shares during the period. Finally, Canada Pension Plan Investment Board boosted its holdings in Teladoc Health by 13.4% in the 2nd quarter. Canada Pension Plan Investment Board now owns 328,900 shares of the health services provider’s stock worth $3,217,000 after buying an additional 38,800 shares during the period. Institutional investors own 76.82% of the company’s stock.

Teladoc Health Stock Up 5.2 %

Shares of TDOC stock traded up $0.50 during trading hours on Wednesday, hitting $10.00. 3,108,837 shares of the company’s stock traded hands, compared to its average volume of 4,023,879. Teladoc Health has a 12-month low of $6.76 and a 12-month high of $21.74. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of -1.73 and a beta of 1.01. The stock’s fifty day simple moving average is $9.96 and its two-hundred day simple moving average is $9.02. 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 posted its earnings results on Wednesday, October 30th. The health services provider reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.10. Teladoc Health had a negative net margin of 37.91% and a negative return on equity of 10.06%. The business had revenue of $640.51 million during the quarter, compared to the consensus estimate of $630.50 million. On average, analysts expect that Teladoc Health will post -1.16 EPS for the current year.

Wall Street Analysts Forecast Growth

TDOC has been the topic of a number of recent research reports. The Goldman Sachs Group initiated coverage on Teladoc Health in a research note on Friday, November 15th. They set a “buy” rating and a $14.00 target price on the stock. Royal Bank of Canada lifted their price objective on Teladoc Health from $9.00 to $10.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. Evercore ISI lifted their price objective on Teladoc Health from $8.00 to $9.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 8th. TD Cowen decreased their target price on Teladoc Health from $9.00 to $8.00 and set a “hold” rating for the company in a research report on Thursday, October 31st. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $13.00 target price (up from $11.00) on shares of Teladoc Health in a research report on Wednesday, December 4th. Fourteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Teladoc Health currently has an average rating of “Hold” and an average target price of $12.24.

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.