Teladoc Health (NYSE:TDOC) Earns Outperform Rating from Analysts at Royal Bank of Canada

Royal Bank of Canada started coverage on shares of Teladoc Health (NYSE:TDOC) in a report released on Wednesday, Benzinga reports. The brokerage set an “outperform” rating and a $100.00 price target on the health services provider’s stock. Royal Bank of Canada’s price target points to a potential upside of 16.44% from the company’s current price.

Other equities analysts have also issued research reports about the company. JPMorgan Chase & Co. boosted their target price on Teladoc Health from $82.00 to $83.00 and gave the stock an “overweight” rating in a research report on Thursday, September 19th. Craig Hallum boosted their target price on Teladoc Health from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. ValuEngine raised Teladoc Health from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, October 22nd. Svb Leerink reissued an “outperform” rating on shares of Teladoc Health in a research report on Thursday, August 1st. Finally, Stifel Nicolaus initiated coverage on Teladoc Health in a research report on Monday. They issued a “hold” rating and a $83.00 target price for the company. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $81.73.

Shares of Teladoc Health stock opened at $85.88 on Wednesday. The stock has a market cap of $6.22 billion, a price-to-earnings ratio of -59.64 and a beta of 1.39. The firm’s 50-day moving average is $75.46 and its 200 day moving average is $66.72. Teladoc Health has a 1 year low of $42.08 and a 1 year high of $86.30. The company has a debt-to-equity ratio of 0.44, a current ratio of 6.55 and a quick ratio of 6.55.

Teladoc Health (NYSE:TDOC) last announced its quarterly earnings results on Wednesday, October 30th. The health services provider reported ($0.28) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.40) by $0.12. The company had revenue of $137.96 million for the quarter, compared to analysts’ expectations of $136.46 million. Teladoc Health had a negative net margin of 20.15% and a negative return on equity of 11.23%. Teladoc Health’s revenue was up 24.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.34) EPS. On average, equities analysts expect that Teladoc Health will post -1.55 EPS for the current fiscal year.

In other news, SVP Andrew Turitz sold 9,158 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $62.27, for a total transaction of $570,268.66. Following the completion of the sale, the senior vice president now owns 6,827 shares of the company’s stock, valued at approximately $425,117.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Lewis Levy sold 675 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $60.00, for a total transaction of $40,500.00. Following the sale, the insider now directly owns 4,805 shares of the company’s stock, valued at approximately $288,300. The disclosure for this sale can be found here. Insiders have sold a total of 76,582 shares of company stock valued at $5,614,983 in the last ninety days. Insiders own 3.95% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Teladoc Health by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 6,285,848 shares of the health services provider’s stock valued at $417,444,000 after purchasing an additional 138,464 shares during the last quarter. Waddell & Reed Financial Inc. increased its position in shares of Teladoc Health by 32.5% during the 2nd quarter. Waddell & Reed Financial Inc. now owns 2,335,837 shares of the health services provider’s stock valued at $155,123,000 after purchasing an additional 572,388 shares during the last quarter. Macquarie Group Ltd. increased its position in shares of Teladoc Health by 59.9% during the 2nd quarter. Macquarie Group Ltd. now owns 1,490,807 shares of the health services provider’s stock valued at $99,005,000 after purchasing an additional 558,650 shares during the last quarter. Jennison Associates LLC increased its position in shares of Teladoc Health by 60.6% during the 2nd quarter. Jennison Associates LLC now owns 1,172,135 shares of the health services provider’s stock valued at $77,841,000 after purchasing an additional 442,140 shares during the last quarter. Finally, Nikko Asset Management Americas Inc. increased its position in shares of Teladoc Health by 44.3% during the 3rd quarter. Nikko Asset Management Americas Inc. now owns 1,041,327 shares of the health services provider’s stock valued at $70,519,000 after purchasing an additional 319,556 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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Analyst Recommendations for Teladoc Health (NYSE:TDOC)

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