Teladoc Health (NYSE:TDOC) Price Target Raised to $261.00

Teladoc Health (NYSE:TDOC) had its price target hoisted by Canaccord Genuity from $255.00 to $261.00 in a research note issued on Thursday, Anlyst Ratings reports. The firm currently has a “buy” rating on the health services provider’s stock. Canaccord Genuity’s price target would indicate a potential upside of 15.18% from the company’s previous close.

Several other equities research analysts have also recently issued reports on the stock. Wells Fargo & Company boosted their price objective on shares of Teladoc Health from $135.00 to $175.00 in a research report on Thursday, July 30th. ValuEngine raised Teladoc Health from a “hold” rating to a “buy” rating in a research note on Thursday, October 1st. Barclays raised their price objective on Teladoc Health from $200.00 to $230.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. Truist Financial upgraded Teladoc Health from a “hold” rating to a “buy” rating and set a $282.00 target price for the company in a report on Thursday, August 6th. Finally, DA Davidson initiated coverage on Teladoc Health in a research note on Tuesday, September 22nd. They set a “buy” rating and a $250.00 price target on the stock. Twelve analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Teladoc Health has an average rating of “Buy” and an average target price of $216.48.

Shares of TDOC stock opened at $226.60 on Thursday. The stock has a 50 day moving average price of $213.11 and a 200 day moving average price of $198.69. Teladoc Health has a 52-week low of $67.46 and a 52-week high of $253.00. The company has a debt-to-equity ratio of 0.73, a quick ratio of 11.36 and a current ratio of 11.36. The firm has a market capitalization of $18.83 billion, a P/E ratio of -177.03 and a beta of 0.25.

Teladoc Health (NYSE:TDOC) last released its earnings results on Wednesday, October 28th. The health services provider reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.10). Teladoc Health had a negative return on equity of 9.54% and a negative net margin of 13.22%. As a group, sell-side analysts forecast that Teladoc Health will post -1.4 EPS for the current year.

In related news, CMO Stephany Verstraete sold 6,000 shares of the business’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $219.34, for a total value of $1,316,040.00. Following the sale, the chief marketing officer now directly owns 19,276 shares in the company, valued at approximately $4,227,997.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jason N. Gorevic sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $245.96, for a total transaction of $7,378,800.00. Following the completion of the sale, the chief executive officer now directly owns 697,283 shares in the company, valued at $171,503,726.68. The disclosure for this sale can be found here. Insiders sold 79,698 shares of company stock worth $18,329,567 in the last quarter. Company insiders own 3.42% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tradewinds Capital Management LLC lifted its holdings in Teladoc Health by 150.0% during the 3rd quarter. Tradewinds Capital Management LLC now owns 125 shares of the health services provider’s stock worth $27,000 after buying an additional 75 shares in the last quarter. Marshall Wace North America L.P. acquired a new stake in shares of Teladoc Health in the first quarter valued at $35,000. Hoover Financial Advisors Inc. acquired a new stake in shares of Teladoc Health in the second quarter valued at $40,000. CSat Investment Advisory L.P. purchased a new position in Teladoc Health in the second quarter valued at $42,000. Finally, Hexavest Inc. acquired a new position in Teladoc Health during the 3rd quarter worth $42,000. Institutional investors and hedge funds own 87.39% of the company’s stock.

Teladoc Health Company Profile

Teladoc Health, Inc provides virtual healthcare services on a business-to-business basis in the United States and internationally. It covers various clinical conditions, including non-critical, episodic care, chronic, and complicated cases like cancer and congestive heart failure, as well as offers telehealth solutions, expert medical services, behavioral health solutions, guidance and support, and platform and program services.

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Analyst Recommendations for Teladoc Health (NYSE:TDOC)

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