Teladoc Health (NYSE:TDOC) Stock Dropped to "Sell" by Argus

Key Points

• Argus downgraded Teladoc Health from “hold” to “sell,” while the broader analyst consensus remains “hold” with an average price target of $7.77.
• Teladoc reported better-than-expected quarterly results, with a loss of $0.15 per share versus the $0.22 consensus estimate and revenue of $605.1 million, though revenue declined 3.4% year over year.
• TDOC opened at $8.52, compared with a 52-week range of $4.40 to $9.89; institutional investors own 76.82% of the company, while insiders hold 0.70%.

Teladoc Health (NYSE:TDOC - Get Free Report) was downgraded by investment analysts at Argus from a "hold" rating to a "sell" rating in a research report issued on Monday, Marketbeat Ratings reports.

A number of other analysts also recently weighed in on TDOC. Citigroup decreased their price target on shares of Teladoc Health from $11.00 to $7.50 and set a "neutral" rating for the company in a research note on Monday, August 3rd. Weiss Ratings reissued a "sell (d-)" rating on shares of Teladoc Health in a research note on Wednesday, August 19th. Bank of America boosted their price objective on shares of Teladoc Health from $9.00 to $10.50 and gave the stock a "buy" rating in a research note on Tuesday, July 7th. Stifel Nicolaus upped their price objective on shares of Teladoc Health from $5.50 to $6.50 and gave the stock a "hold" rating in a report on Thursday. Finally, JPMorgan Chase & Co. raised their target price on shares of Teladoc Health from $8.00 to $10.00 and gave the company a "neutral" rating in a research note on Friday. Five investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $7.77.

Teladoc Health Stock Up 0.1%

TDOC opened at $8.52 on Monday. Teladoc Health has a 52 week low of $4.40 and a 52 week high of $9.89. The stock has a market cap of $1.55 billion, a PE ratio of -9.91 and a beta of 2.00. The business has a 50 day moving average of $6.23 and a 200-day moving average of $6.47.

Teladoc Health (NYSE:TDOC - Get Free Report) last issued its quarterly earnings results on Wednesday, October 28th. The health services provider reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.07. The company had revenue of $605.10 million for the quarter, compared to analysts' expectations of $588.14 million. Teladoc Health had a negative return on equity of 11.63% and a negative net margin of 6.27%. The firm's revenue for the quarter was down 3.4% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.28) earnings per share. Equities analysts anticipate that Teladoc Health will post -0.89 EPS for the current year.

Insider Activity

In related news, CEO Charles III sold 17,805 shares of the company's stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $6.10, for a total value of $108,610.50. Following the transaction, the chief executive officer owned 465,535 shares in the company, valued at $2,839,763.50. The trade was a 3.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Teladoc Health

Institutional investors have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. purchased a new position in Teladoc Health in the third quarter worth about $60,000. Vise Technologies Inc. grew its holdings in shares of Teladoc Health by 26.5% during the third quarter. Vise Technologies Inc. now owns 22,035 shares of the health services provider's stock valued at $128,000 after buying an additional 4,614 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al grew its holdings in shares of Teladoc Health by 9.5% during the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 186,825 shares of the health services provider's stock valued at $1,084,000 after buying an additional 16,200 shares during the last quarter. Partners Wealth Management LLC purchased a new stake in shares of Teladoc Health during the third quarter valued at approximately $58,000. Finally, Oppenheimer & Co. Inc. increased its position in shares of Teladoc Health by 11.5% during the third quarter. Oppenheimer & Co. Inc. now owns 206,625 shares of the health services provider's stock valued at $1,198,000 after acquiring an additional 21,334 shares in the last quarter. 76.82% of the stock is owned by hedge funds and other institutional investors.

About Teladoc Health

Teladoc Health, Inc provides virtual healthcare services and technology designed to connect patients with medical professionals remotely. Through its digital platforms, the company supports a range of healthcare needs, including general medical consultations, mental health services, specialty care, and ongoing management of chronic conditions.

Its offerings include telehealth visits with physicians and other licensed providers, behavioral health services through BetterHelp, and chronic care programs that use digital tools and clinical support to help people manage conditions such as diabetes and hypertension.

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