Bank of America Cuts Teladoc Health (NYSE:TDOC) Price Target to $7.00

Teladoc Health (NYSE:TDOC - Get Free Report) had its price target dropped by equities research analysts at Bank of America from $8.00 to $7.00 in a report released on Wednesday,Benzinga reports. The firm presently has a "neutral" rating on the health services provider's stock. Bank of America's price objective points to a potential upside of 0.07% from the company's previous close.

Several other analysts have also recently commented on TDOC. Piper Sandler reduced their price objective on shares of Teladoc Health from $13.00 to $12.00 and set an "overweight" rating for the company in a research note on Thursday, February 27th. Wells Fargo & Company dropped their target price on shares of Teladoc Health from $10.00 to $8.00 and set an "equal weight" rating for the company in a report on Thursday, May 8th. Truist Financial decreased their price target on Teladoc Health from $10.00 to $9.00 and set a "hold" rating on the stock in a research note on Tuesday. Evercore ISI dropped their price objective on Teladoc Health from $8.00 to $7.00 and set an "in-line" rating for the company in a research note on Thursday, May 1st. Finally, Jefferies Financial Group decreased their target price on Teladoc Health from $10.00 to $8.00 and set a "hold" rating on the stock in a research report on Monday, April 21st. Twelve research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $9.60.

Teladoc Health Stock Performance

Teladoc Health stock traded down $0.09 during trading hours on Wednesday, reaching $7.00. 1,855,497 shares of the stock were exchanged, compared to its average volume of 6,222,796. The stock has a market cap of $1.23 billion, a P/E ratio of -1.21 and a beta of 1.82. The firm's 50 day moving average is $7.37 and its 200 day moving average is $9.26. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.69 and a current ratio of 1.73. Teladoc Health has a 52-week low of $6.35 and a 52-week high of $15.21.

Teladoc Health (NYSE:TDOC - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The health services provider reported ($0.28) earnings per share for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.07). The business had revenue of $640.49 million during the quarter, compared to analysts' expectations of $639.44 million. Teladoc Health had a negative net margin of 37.91% and a negative return on equity of 10.06%. Analysts predict that Teladoc Health will post -1.16 EPS for the current fiscal year.

Insider Activity

In related news, insider Adam C. Vandervoort sold 11,011 shares of the firm's stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $8.42, for a total value of $92,712.62. Following the sale, the insider now directly owns 64,308 shares of the company's stock, valued at approximately $541,473.36. This trade represents a 14.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.58% of the company's stock.

Hedge Funds Weigh In On Teladoc Health

Large investors have recently bought and sold shares of the stock. KBC Group NV increased its holdings in shares of Teladoc Health by 72.3% during the 4th quarter. KBC Group NV now owns 8,849 shares of the health services provider's stock worth $80,000 after buying an additional 3,714 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position in Teladoc Health by 21.8% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 700,166 shares of the health services provider's stock valued at $6,365,000 after acquiring an additional 125,111 shares during the period. Murphy Pohlad Asset Management LLC acquired a new stake in Teladoc Health during the fourth quarter worth about $458,000. Summit Trail Advisors LLC purchased a new position in shares of Teladoc Health in the 4th quarter worth about $92,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in shares of Teladoc Health in the 4th quarter worth about $2,859,000. Hedge funds and other institutional investors own 76.82% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.