Teladoc Health (NYSE:TDOC) Shares Gap Down Following Weak Earnings

Teladoc Health, Inc. (NYSE:TDOC)’s share price gapped down prior to trading on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $10.99, but opened at $9.90. Teladoc Health shares last traded at $9.38, with a volume of 6,928,751 shares traded.

The health services provider reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.07). Teladoc Health had a negative net margin of 37.91% and a negative return on equity of 10.06%. The business had revenue of $640.49 million during the quarter, compared to analysts’ expectations of $639.44 million.

Wall Street Analyst Weigh In

Several research firms have recently commented on TDOC. Piper Sandler lowered their target price on shares of Teladoc Health from $13.00 to $12.00 and set an “overweight” rating on the stock in a report on Thursday. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Teladoc Health from $10.00 to $12.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Bank of America raised their price objective on Teladoc Health from $11.50 to $13.50 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. The Goldman Sachs Group boosted their target price on Teladoc Health from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Teladoc Health in a research note on Thursday. Eleven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $11.44.

Insider Buying and Selling

In related news, insider Carlos Nueno sold 2,389 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $11.93, for a total transaction of $28,500.77. Following the completion of the sale, the insider now directly owns 2,890 shares of the company’s stock, valued at approximately $34,477.70. This trade represents a 45.25 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.95% of the stock is owned by corporate insiders.

Institutional Trading of Teladoc Health

Hedge funds and other institutional investors have recently bought and sold shares of the business. Whipplewood Advisors LLC purchased a new stake in shares of Teladoc Health during the fourth quarter valued at $29,000. Versant Capital Management Inc lifted its holdings in Teladoc Health by 313.8% during the 4th quarter. Versant Capital Management Inc now owns 3,219 shares of the health services provider’s stock valued at $29,000 after buying an additional 2,441 shares in the last quarter. Lindbrook Capital LLC boosted its position in Teladoc Health by 78.9% in the 4th quarter. Lindbrook Capital LLC now owns 3,654 shares of the health services provider’s stock valued at $33,000 after buying an additional 1,612 shares during the period. Blue Trust Inc. grew its stake 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 worth $40,000 after acquiring an additional 1,854 shares in the last quarter. Finally, Sterling Capital Management LLC increased its position in shares of Teladoc Health by 776.7% during the fourth quarter. Sterling Capital Management LLC now owns 4,629 shares of the health services provider’s stock worth $42,000 after acquiring an additional 4,101 shares during the period. Hedge funds and other institutional investors own 76.82% of the company’s stock.

Teladoc Health Stock Up 0.6 %

The company has a quick ratio of 1.69, a current ratio of 1.73 and a debt-to-equity ratio of 0.66. The stock has a market cap of $1.65 billion, a P/E ratio of -1.66 and a beta of 1.05. The company’s 50 day moving average price is $10.62 and its two-hundred day moving average price is $9.55.

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.