Teladoc Health (NYSE:TDOC) Issues Q2 2024 Earnings Guidance

Teladoc Health (NYSE:TDOC) updated its second quarter 2024 earnings guidance on Thursday. The company provided EPS guidance of -0.450–0.350 for the period, compared to the consensus EPS estimate of -0.300. The company issued revenue guidance of $635.0 million-$660.0 million, compared to the consensus revenue estimate of $662.6 million. Teladoc Health also updated its FY24 guidance to ($1.10)-($0.80) EPS.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Royal Bank of Canada decreased their price target on shares of Teladoc Health from $30.00 to $25.00 and set an outperform rating for the company in a research note on Wednesday, February 21st. Citigroup reduced their price objective on shares of Teladoc Health from $21.00 to $19.00 and set a neutral rating for the company in a research note on Wednesday, February 21st. Cantor Fitzgerald began coverage on shares of Teladoc Health in a research note on Thursday, February 29th. They set an overweight rating and a $22.00 price objective for the company. Barclays reduced their price objective on shares of Teladoc Health from $26.00 to $25.00 and set an overweight rating for the company in a research note on Wednesday, February 21st. Finally, Truist Financial reduced their price objective on shares of Teladoc Health from $23.00 to $17.00 and set a hold rating for the company in a research note on Wednesday, March 6th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Teladoc Health presently has a consensus rating of Hold and an average price target of $22.23.

Teladoc Health Stock Performance

Shares of NYSE TDOC traded down $0.40 during trading on Thursday, reaching $13.33. 6,599,008 shares of the company traded hands, compared to its average volume of 4,759,304. The firm has a 50 day simple moving average of $15.17 and a 200-day simple moving average of $17.80. The company has a quick ratio of 3.47, a current ratio of 3.54 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $2.26 billion, a PE ratio of -9.95 and a beta of 0.94. Teladoc Health has a 52-week low of $12.85 and a 52-week high of $30.41.

Teladoc Health (NYSE:TDOC) last announced its earnings results on Tuesday, February 20th. The health services provider reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.05. The company had revenue of $660.50 million during the quarter, compared to analyst estimates of $670.79 million. Teladoc Health had a negative net margin of 8.47% and a negative return on equity of 9.22%. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.23) earnings per share. Equities research analysts anticipate that Teladoc Health will post -1.07 earnings per share for the current year.

Insider Activity at Teladoc Health

In related news, COO Michael Willem Waters sold 4,523 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $19.18, for a total transaction of $86,751.14. Following the completion of the sale, the chief operating officer now directly owns 38,570 shares in the company, valued at $739,772.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, COO Michael Willem Waters sold 4,523 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $19.18, for a total transaction of $86,751.14. Following the completion of the sale, the chief operating officer now directly owns 38,570 shares in the company, valued at $739,772.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Laizer Kornwasser sold 7,882 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $19.18, for a total transaction of $151,176.76. Following the completion of the transaction, the insider now owns 57,223 shares of the company’s stock, valued at $1,097,537.14. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 135,441 shares of company stock worth $2,038,251. 1.63% of the stock is owned by company insiders.

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.