Teladoc Health (NYSE:TDOC) Stock Price Down 6.3% on Analyst Downgrade

Teladoc Health, Inc. (NYSE:TDOC) shares fell 6.3% during mid-day trading on Thursday after Canaccord Genuity Group lowered their price target on the stock from $14.00 to $12.00. Canaccord Genuity Group currently has a buy rating on the stock. Teladoc Health traded as low as $6.78 and last traded at $6.74. 1,275,288 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 7,023,583 shares. The stock had previously closed at $7.19.

Other analysts have also issued reports about the company. The Goldman Sachs Group lowered their price objective on Teladoc Health from $13.00 to $10.00 and set a “buy” rating for the company in a report on Thursday. Needham & Company LLC reaffirmed a “hold” rating on shares of Teladoc Health in a report on Thursday. Jefferies Financial Group dropped their price objective on shares of Teladoc Health from $10.00 to $8.00 and set a “hold” rating on the stock in a research note on Monday, April 21st. Citigroup decreased their target price on Teladoc Health from $11.00 to $8.75 and set a “neutral” rating for the company in a research note on Friday, April 25th. Finally, Oppenheimer reduced their price objective on Teladoc Health from $14.00 to $12.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Eleven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Teladoc Health has a consensus rating of “Hold” and a consensus target price of $9.81.

Insider Transactions at Teladoc Health

In other news, insider Adam C. Vandervoort sold 11,011 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $8.42, for a total value of $92,712.62. Following the transaction, the insider now owns 64,308 shares of the company’s stock, valued at approximately $541,473.36. This represents a 14.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.58% of the company’s stock.

Institutional Investors Weigh In On Teladoc Health

Large investors have recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC grew its stake in Teladoc Health by 102.6% in the 1st quarter. Golden State Wealth Management LLC now owns 3,337 shares of the health services provider’s stock valued at $27,000 after buying an additional 1,690 shares in the last quarter. Versant Capital Management Inc lifted its stake in Teladoc Health by 313.8% during the fourth quarter. Versant Capital Management Inc now owns 3,219 shares of the health services provider’s stock worth $29,000 after purchasing an additional 2,441 shares during the last quarter. Whipplewood Advisors LLC purchased a new position in shares of Teladoc Health in the 4th quarter worth about $29,000. Lindbrook Capital LLC increased its position in shares of Teladoc Health by 78.9% during the 4th quarter. Lindbrook Capital LLC now owns 3,654 shares of the health services provider’s stock valued at $33,000 after purchasing an additional 1,612 shares during the last quarter. Finally, Sterling Capital Management LLC raised its holdings in shares of Teladoc Health by 776.7% during the 4th quarter. Sterling Capital Management LLC now owns 4,629 shares of the health services provider’s stock valued at $42,000 after buying an additional 4,101 shares in the last quarter. Institutional investors and hedge funds own 76.82% of the company’s stock.

Teladoc Health Trading Up 1.1 %

The company has a market capitalization of $1.24 billion, a PE ratio of -1.23 and a beta of 1.73. The stock has a fifty day moving average of $8.02 and a two-hundred day moving average of $9.49. The company has a current ratio of 1.73, a quick ratio of 1.69 and a debt-to-equity ratio of 0.66.

Teladoc Health (NYSE:TDOC) last posted 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). Teladoc Health had a negative net margin of 37.91% and a negative return on equity of 10.06%. The company had revenue of $640.49 million for the quarter, compared to analysts’ expectations of $639.44 million. As a group, sell-side analysts anticipate that Teladoc Health, Inc. will post -1.16 earnings per share for the current fiscal year.

Teladoc Health Company Profile

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.