Teladoc Health (NYSE:TDOC) Sets New 12-Month Low on Disappointing Earnings

Teladoc Health, Inc. (NYSE:TDOC)’s stock price hit a new 52-week low during mid-day trading on Friday following a dissappointing earnings announcement. The stock traded as low as $12.65 and last traded at $13.36, with a volume of 2157832 shares. The stock had previously closed at $13.33.

The health services provider reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.02). Teladoc Health had a negative net margin of 8.47% and a negative return on equity of 9.22%. The company had revenue of $646.13 million for the quarter, compared to analysts’ expectations of $637.31 million. During the same period in the previous year, the firm earned ($0.37) earnings per share. The firm’s quarterly revenue was up 2.7% on a year-over-year basis.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Piper Sandler lowered their price objective on Teladoc Health from $30.00 to $25.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 21st. Needham & Company LLC restated a “hold” rating on shares of Teladoc Health in a research note on Friday. Citigroup dropped their price target on Teladoc Health from $21.00 to $19.00 and set a “neutral” rating for the company in a research note on Wednesday, February 21st. Royal Bank of Canada dropped their price target on Teladoc Health from $30.00 to $25.00 and set an “outperform” rating for the company in a research note on Wednesday, February 21st. Finally, SVB Leerink began coverage on Teladoc Health in a research note on Monday, February 26th. They issued a “market perform” rating and a $17.00 price target for the company. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $22.00.

Insider Activity at Teladoc Health

In other Teladoc Health news, CMO Stephany Verstraete sold 7,945 shares of the company’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 transaction, the chief marketing officer now owns 56,486 shares of the company’s stock, valued at approximately $820,176.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Teladoc Health news, CAO Richard J. Napolitano sold 3,765 shares of the company’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 $54,667.80. Following the transaction, the chief accounting officer now owns 18,077 shares of the company’s stock, valued at approximately $262,478.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Stephany Verstraete sold 7,945 shares of the 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 transaction, the chief marketing officer now directly owns 56,486 shares in the company, valued at approximately $820,176.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 135,441 shares of company stock worth $2,038,251. Company insiders own 1.63% of the company’s stock.

Hedge Funds Weigh In On Teladoc Health

Hedge funds and other institutional investors have recently made changes to their positions in the company. Lecap Asset Management Ltd. bought a new stake in Teladoc Health during the fourth quarter valued at about $1,530,000. Sowell Financial Services LLC boosted its position in Teladoc Health by 40.8% during the fourth quarter. Sowell Financial Services LLC now owns 18,907 shares of the health services provider’s stock valued at $407,000 after purchasing an additional 5,475 shares in the last quarter. Deutsche Bank AG boosted its position in Teladoc Health by 12.4% during the third quarter. Deutsche Bank AG now owns 301,147 shares of the health services provider’s stock valued at $5,598,000 after purchasing an additional 33,287 shares in the last quarter. Sherbrooke Park Advisers LLC bought a new stake in Teladoc Health during the third quarter valued at about $680,000. Finally, QRG Capital Management Inc. bought a new stake in Teladoc Health during the third quarter valued at about $392,000. Institutional investors own 76.82% of the company’s stock.

Teladoc Health Stock Performance

The business has a 50-day moving average of $15.17 and a two-hundred day moving average of $17.80. The company has a market cap of $2.27 billion, a P/E ratio of -9.99 and a beta of 0.94. The company has a debt-to-equity ratio of 0.66, a current ratio of 3.54 and a quick ratio of 3.47.

Teladoc Health Company Profile

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.