Bank of America Lowers Teladoc Health (NYSE:TDOC) Price Target to $8.00

Teladoc Health (NYSE:TDOC) had its price objective lowered by analysts at Bank of America from $9.50 to $8.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the health services provider’s stock. Bank of America‘s price target would indicate a potential upside of 10.27% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on the company. Royal Bank of Canada boosted their price objective on Teladoc Health from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Friday, January 24th. Oppenheimer reduced their price objective on shares of Teladoc Health from $14.00 to $12.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. The Goldman Sachs Group decreased their target price on shares of Teladoc Health from $16.00 to $13.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. Piper Sandler lowered their price target on Teladoc Health from $13.00 to $12.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. Finally, Needham & Company LLC restated a “hold” rating on shares of Teladoc Health in a report on Thursday, February 27th. Eleven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Teladoc Health currently has a consensus rating of “Hold” and a consensus target price of $10.94.

Teladoc Health Stock Up 0.2 %

Shares of NYSE:TDOC opened at $7.26 on Friday. Teladoc Health has a fifty-two week low of $6.61 and a fifty-two week high of $15.21. The firm’s 50 day moving average price is $9.73 and its 200 day moving average price is $9.69. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of -1.26 and a beta of 1.73. 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 earnings results on Wednesday, February 26th. The health services provider reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.07). The business had revenue of $640.49 million for the quarter, compared to analyst estimates 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 predict that Teladoc Health will post -1.16 earnings per share for the current fiscal year.

Insider Buying and Selling at Teladoc Health

In other Teladoc Health news, insider Adam C. Vandervoort sold 11,011 shares of the business’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $8.42, for a total transaction of $92,712.62. Following the transaction, the insider now owns 64,308 shares in the company, valued at $541,473.36. The trade was a 14.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.95% of the stock is owned by company insiders.

Hedge Funds Weigh In On Teladoc Health

Institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC lifted its holdings in Teladoc Health by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 3,925,167 shares of the health services provider’s stock worth $36,042,000 after buying an additional 56,864 shares in the last quarter. 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 worth $29,000 after buying an additional 2,441 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in Teladoc Health by 21.8% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 700,166 shares of the health services provider’s stock worth $6,365,000 after purchasing an additional 125,111 shares during the period. Nisa Investment Advisors LLC boosted its holdings in shares of Teladoc Health by 20,936.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 426,206 shares of the health services provider’s stock valued at $3,874,000 after buying an additional 424,180 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Teladoc Health by 18.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,443,713 shares of the health services provider’s stock valued at $22,213,000 after purchasing an additional 384,528 shares during the last quarter. Hedge funds and other institutional investors own 76.82% of the company’s stock.

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.