Teladoc Health (NYSE:TDOC) Issues Q2 Earnings Guidance

Teladoc Health (NYSE:TDOC) issued an update on its second quarter earnings guidance on Thursday morning. The company provided EPS guidance of ($0.45)-($0.35) for the period, compared to the consensus EPS estimate of ($0.30). The company issued revenue guidance of $635-$660 million, compared to the consensus revenue estimate of $662.55 million. Teladoc Health also updated its FY24 guidance to ($1.10)-($0.80) EPS.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TDOC. Piper Sandler lowered their price target on Teladoc Health from $30.00 to $25.00 and set an overweight rating for the company in a report on Wednesday, February 21st. SVB Leerink assumed coverage on Teladoc Health in a report on Monday, February 26th. They set a market perform rating and a $17.00 target price for the company. Canaccord Genuity Group lowered their target price on Teladoc Health from $34.00 to $28.00 and set a buy rating for the company in a report on Wednesday, February 21st. Barclays lowered their target price on Teladoc Health from $26.00 to $25.00 and set an overweight rating for the company in a report on Wednesday, February 21st. Finally, Royal Bank of Canada lowered their target price on Teladoc Health from $30.00 to $25.00 and set an outperform rating for the company in a report on Wednesday, February 21st. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $22.23.

Teladoc Health Stock Performance

TDOC traded down $0.40 during trading on Thursday, hitting $13.33. 6,550,543 shares of the stock were exchanged, compared to its average volume of 4,757,382. The firm has a market capitalization of $2.26 billion, a P/E ratio of -10.01 and a beta of 0.94. Teladoc Health has a 1-year low of $12.85 and a 1-year high of $30.41. The stock has a fifty day moving average price of $15.31 and a two-hundred day moving average price of $17.83. The company has a quick ratio of 3.47, a current ratio of 3.54 and a debt-to-equity ratio of 0.66.

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

Insider Activity

In other news, insider Laizer Kornwasser sold 7,882 shares of the business’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 value of $151,176.76. Following the transaction, the insider now owns 57,223 shares of the company’s stock, valued at $1,097,537.14. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Laizer Kornwasser sold 7,882 shares of Teladoc Health stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $19.18, for a total value of $151,176.76. Following the sale, the insider now directly owns 57,223 shares in the company, valued at $1,097,537.14. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CMO Stephany Verstraete sold 7,945 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $14.52, for a total value of $115,361.40. Following the sale, the chief marketing officer now owns 56,486 shares in the company, valued at $820,176.72. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 135,441 shares of company stock valued at $2,038,251. Company insiders own 1.63% of the company’s stock.

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.