Teladoc Health (NYSE:TDOC) Stock Price Target Raised at Oppenheimer

Teladoc Health (NYSE:TDOC) had its target price lifted by investment analysts at Oppenheimer from $7.00 to $10.00 in a research note issued on Monday, Benzinga reports. The firm presently has an “outperform” rating on the health services provider’s stock. Oppenheimer‘s price objective points to a potential upside of 15.67% from the stock’s previous close.

Several other equities research analysts have also recently commented on the stock. Argus cut shares of Teladoc Health from a “hold” rating to a “sell” rating in a research report on Monday. Needham & Company LLC reiterated a “hold” rating on shares of Teladoc Health in a research report on Thursday. JPMorgan Chase & Co. raised their price objective on Teladoc Health from $8.00 to $10.00 and gave the company a “neutral” rating in a research report on Friday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Teladoc Health in a research report on Wednesday, August 19th. Finally, Citigroup reduced their price target on shares of Teladoc Health from $11.00 to $7.50 and set a “neutral” rating for the company in a research report on Monday, August 3rd. Five analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $8.00.

Teladoc Health Price Performance

TDOC traded up $0.14 during trading on Monday, hitting $8.64. 2,015,808 shares of the stock traded hands, compared to its average volume of 5,096,639. The firm has a 50-day moving average of $6.23 and a 200 day moving average of $6.47. Teladoc Health has a 12-month low of $4.40 and a 12-month high of $9.89. The firm has a market capitalization of $1.58 billion, a P/E ratio of -10.04 and a beta of 2.00.

Teladoc Health (NYSE:TDOC) last released its quarterly earnings data on Wednesday, October 28th. The health services provider reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.07. Teladoc Health had a negative return on equity of 11.63% and a negative net margin of 6.27%. The business had revenue of $605.10 million during the quarter, compared to analysts’ expectations of $588.14 million. During the same quarter last year, the business posted ($0.28) EPS. The business’s revenue was down 3.4% on a year-over-year basis. As a group, equities analysts predict that Teladoc Health will post -0.89 EPS for the current fiscal year.

Insider Transactions at Teladoc Health

In related news, CEO Charles III sold 17,805 shares of the business’s stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $6.10, for a total transaction of $108,610.50. Following the completion of the transaction, the chief executive officer directly owned 465,535 shares in the company, valued at approximately $2,839,763.50. The trade was a 3.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On Teladoc Health

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Teladoc Health during the third quarter valued at $60,000. Vise Technologies Inc. lifted its holdings in shares of Teladoc Health by 26.5% in the 3rd quarter. Vise Technologies Inc. now owns 22,035 shares of the health services provider’s stock valued at $128,000 after acquiring an additional 4,614 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al increased its stake in Teladoc Health by 9.5% during the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 186,825 shares of the health services provider’s stock worth $1,084,000 after acquiring an additional 16,200 shares during the last quarter. Partners Wealth Management LLC bought a new stake in shares of Teladoc Health in the 3rd quarter valued at approximately $58,000. Finally, Oppenheimer & Co. Inc. boosted its holdings in shares of Teladoc Health by 11.5% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 206,625 shares of the health services provider’s stock worth $1,198,000 after purchasing an additional 21,334 shares during the period. Institutional investors own 76.82% of the company’s stock.

About Teladoc Health

Teladoc Health, Inc provides virtual healthcare services and technology designed to connect patients with medical professionals remotely. Through its digital platforms, the company supports a range of healthcare needs, including general medical consultations, mental health services, specialty care, and ongoing management of chronic conditions.

Its offerings include telehealth visits with physicians and other licensed providers, behavioral health services through BetterHelp, and chronic care programs that use digital tools and clinical support to help people manage conditions such as diabetes and hypertension.