Deutsche Bank Initiates Coverage on Teladoc Health (NYSE:TDOC)

Deutsche Bank assumed coverage on shares of Teladoc Health (NYSE:TDOC) in a research note released on Thursday, BenzingaRatingsTable reports. The brokerage issued a buy rating and a $76.00 price objective on the health services provider’s stock.

Several other equities analysts have also recently weighed in on TDOC. Craig Hallum lifted their price objective on Teladoc Health from $70.00 to $80.00 and gave the company a buy rating in a report on Thursday, August 1st. Svb Leerink reissued an outperform rating on shares of Teladoc Health in a report on Thursday, August 1st. Piper Jaffray Companies set a $87.00 price target on Teladoc Health and gave the stock a buy rating in a report on Friday, August 16th. Bank of America began coverage on Teladoc Health in a report on Thursday, June 13th. They set a buy rating and a $65.00 price target for the company. Finally, Oppenheimer set a $83.00 price target on Teladoc Health and gave the stock a buy rating in a report on Friday, September 6th. Three investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Teladoc Health currently has a consensus rating of Buy and a consensus price target of $82.58.

NYSE:TDOC opened at $70.39 on Thursday. The stock has a market cap of $4.97 billion, a P/E ratio of -48.88 and a beta of 1.35. The stock has a 50 day simple moving average of $63.05 and a 200 day simple moving average of $61.32. The company has a current ratio of 7.56, a quick ratio of 7.56 and a debt-to-equity ratio of 0.43. Teladoc Health has a 1-year low of $42.08 and a 1-year high of $89.05.

Teladoc Health (NYSE:TDOC) last announced its quarterly earnings data on Wednesday, July 31st. The health services provider reported ($0.41) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.40) by ($0.01). The company had revenue of $130.30 million during the quarter, compared to analyst estimates of $129.54 million. Teladoc Health had a negative net margin of 21.85% and a negative return on equity of 10.64%. Teladoc Health’s revenue was up 37.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.40) earnings per share. As a group, sell-side analysts forecast that Teladoc Health will post -1.56 EPS for the current year.

In related news, insider Lewis Levy sold 675 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $60.00, for a total transaction of $40,500.00. Following the sale, the insider now owns 4,805 shares in the company, valued at approximately $288,300. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Andrew Turitz sold 9,158 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $62.27, for a total value of $570,268.66. Following the sale, the senior vice president now owns 6,827 shares in the company, valued at approximately $425,117.29. The disclosure for this sale can be found here. Insiders have sold a total of 114,371 shares of company stock worth $7,763,761 in the last 90 days. 3.95% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the stock. Riversedge Advisors LLC bought a new stake in Teladoc Health during the 2nd quarter worth $223,000. River & Mercantile Asset Management LLP bought a new stake in shares of Teladoc Health in the 2nd quarter valued at about $3,102,000. Griffin Asset Management Inc. bought a new stake in shares of Teladoc Health in the 2nd quarter valued at about $133,000. Kayne Anderson Rudnick Investment Management LLC grew its position in shares of Teladoc Health by 39.6% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 133,757 shares of the health services provider’s stock valued at $8,883,000 after buying an additional 37,959 shares during the last quarter. Finally, Royal Bank of Canada grew its position in shares of Teladoc Health by 40.5% in the 2nd quarter. Royal Bank of Canada now owns 276,005 shares of the health services provider’s stock valued at $18,329,000 after buying an additional 79,547 shares during the last quarter.

About Teladoc Health

Teladoc Health, Inc provides telehealth services. It offers a portfolio of services and solutions covering 450 medical subspecialties, such as flu and upper respiratory infections, cancer, and congestive heart failure. The company provides its services through mobile devices, the Internet, video, and phone.

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