Teladoc Health (NYSE:TDOC) Stock Price Target Raised at Barclays

Key Points

• Barclays raised Teladoc Health’s price target from $7 to $9 but maintained an “equal weight” rating; the target implies 7.46% downside from the stock’s then-current price.
• Analyst sentiment is broadly cautious: the consensus rating is “Hold,” with an average target of $8.27, based on five Buy, 12 Hold, and two Sell ratings.
• Teladoc shares rose 9.4% to $9.72 on Wednesday. Its latest quarterly results beat analyst estimates for both earnings per share and revenue, though revenue declined 3.4% year over year.

Teladoc Health (NYSE:TDOC - Get Free Report) had its price target upped by equities research analysts at Barclays from $7.00 to $9.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has an "equal weight" rating on the health services provider's stock. Barclays's price objective would suggest a potential downside of 7.46% from the stock's current price.

Several other equities analysts have also recently commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of Teladoc Health from $8.00 to $10.00 and gave the stock a "neutral" rating in a research report on Friday, October 30th. Argus lowered shares of Teladoc Health from a "hold" rating to a "sell" rating in a report on Monday. Needham & Company LLC reaffirmed a "hold" rating on shares of Teladoc Health in a research note on Thursday, October 29th. Canaccord Genuity Group lowered their price target on shares of Teladoc Health from $11.00 to $10.00 and set a "buy" rating for the company in a research report on Thursday, July 30th. Finally, Stifel Nicolaus boosted 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, October 29th. Five equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $8.27.

Teladoc Health Stock Up 9.4%

Shares of Teladoc Health stock traded up $0.83 during trading on Wednesday, reaching $9.72. 4,209,168 shares of the company were exchanged, compared to its average volume of 5,115,540. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of -11.31 and a beta of 2.00. The business has a 50-day moving average price of $6.33 and a 200-day moving average price of $6.49. Teladoc Health has a twelve month low of $4.40 and a twelve month high of $9.89.

Teladoc Health (NYSE:TDOC - Get Free Report) last posted its 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 analyst estimates of $588.14 million. Teladoc Health had a negative net margin of 6.27% and a negative return on equity of 11.63%. The business's revenue for the quarter was down 3.4% compared to the same quarter last year. During the same period last year, the business posted ($0.28) earnings per share. On average, equities research analysts forecast that Teladoc Health will post -0.87 EPS for the current fiscal year.

Insider Activity at Teladoc Health

In related news, CEO Charles III sold 17,805 shares of the firm's stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $6.10, for a total value of $108,610.50. Following the completion of the transaction, the chief executive officer directly owned 465,535 shares of the company's stock, valued at $2,839,763.50. This trade represents a 3.68% decrease in their position. The transaction 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. Insiders own 0.70% of the company's stock.

Hedge Funds Weigh In On Teladoc Health

Several hedge funds have recently modified their holdings of TDOC. Formidable Asset Management LLC boosted its holdings in shares of Teladoc Health by 6.2% during the 3rd quarter. Formidable Asset Management LLC now owns 27,935 shares of the health services provider's stock worth $162,000 after buying an additional 1,625 shares in the last quarter. Versant Capital Management Inc lifted its holdings in shares of Teladoc Health by 33.3% in the second quarter. Versant Capital Management Inc now owns 8,207 shares of the health services provider's stock valued at $70,000 after purchasing an additional 2,052 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its stake in shares of Teladoc Health by 9.5% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 29,722 shares of the health services provider's stock worth $172,000 after acquiring an additional 2,578 shares in the last quarter. HighTower Advisors LLC raised its position in Teladoc Health by 20.8% in the second quarter. HighTower Advisors LLC now owns 16,808 shares of the health services provider's stock worth $143,000 after acquiring an additional 2,893 shares during the period. Finally, Allworth Financial LP bought a new position in Teladoc Health during the second quarter valued at $25,000. 76.82% of the stock is currently owned by institutional investors and hedge funds.

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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