Teladoc Health (NYSE:TDOC) Releases Q1 2024 Earnings Guidance

Teladoc Health (NYSE:TDOC - Get Free Report) issued an update on its first quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of -0.550--0.450 for the period, compared to the consensus estimate of -0.460. The company issued revenue guidance of $630.0 million-$645.0 million, compared to the consensus revenue estimate of $637.4 million. Teladoc Health also updated its FY 2024 guidance to -1.100--0.800 EPS.

Teladoc Health Price Performance

TDOC stock traded down $0.57 during midday trading on Wednesday, reaching $14.50. The stock had a trading volume of 5,637,227 shares, compared to its average volume of 4,706,083. The company's fifty day simple moving average is $16.49 and its 200 day simple moving average is $18.16. The company has a current ratio of 3.54, a quick ratio of 3.47 and a debt-to-equity ratio of 0.66. The company has a market cap of $2.42 billion, a price-to-earnings ratio of -10.82 and a beta of 0.94. Teladoc Health has a 52-week low of $13.59 and a 52-week high of $30.41.

Teladoc Health (NYSE:TDOC - Get Free Report) last announced its quarterly earnings data on Tuesday, February 20th. The health services provider reported ($0.17) earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter was up 3.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.23) EPS. As a group, sell-side analysts predict that Teladoc Health will post -1.07 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TDOC has been the subject of a number of recent research reports. Royal Bank of Canada cut their target price 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. Barclays cut their price objective on Teladoc Health from $26.00 to $25.00 and set an overweight rating for the company in a research report on Wednesday, February 21st. Truist Financial cut their price objective on Teladoc Health from $23.00 to $17.00 and set a hold rating for the company in a research report on Wednesday, March 6th. Canaccord Genuity Group cut their price objective on Teladoc Health from $34.00 to $28.00 and set a buy rating for the company in a research report on Wednesday, February 21st. Finally, DA Davidson cut their price objective on Teladoc Health from $22.00 to $18.00 and set a neutral rating for the company in a research report on Wednesday, February 21st. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Teladoc Health has a consensus rating of Hold and a consensus target price of $22.43.

Insider Activity

In related news, CAO Richard J. Napolitano sold 3,765 shares of the business's stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $14.52, for a total transaction of $54,667.80. Following the completion of the sale, the chief accounting officer now owns 18,077 shares in the company, valued at $262,478.04. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Teladoc Health news, CAO Richard J. Napolitano sold 3,765 shares of Teladoc Health stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $14.52, for a total transaction of $54,667.80. Following the transaction, the chief accounting officer now owns 18,077 shares of the company's stock, valued at $262,478.04. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Andrew Turitz sold 6,190 shares of Teladoc Health stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $14.52, for a total value of $89,878.80. Following the transaction, the executive vice president now directly owns 39,429 shares in the company, valued at approximately $572,509.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 134,441 shares of company stock worth $2,025,041. 1.63% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of TDOC. Acadian Asset Management LLC purchased a new stake in Teladoc Health during the first quarter worth $27,000. Dark Forest Capital Management LP lifted its position in shares of Teladoc Health by 408.2% in the first quarter. Dark Forest Capital Management LP now owns 1,245 shares of the health services provider's stock valued at $32,000 after acquiring an additional 1,000 shares in the last quarter. Tyler Stone Wealth Management purchased a new position in Teladoc Health during the second quarter worth about $33,000. Quarry LP acquired a new stake in Teladoc Health during the first quarter worth about $35,000. Finally, IFP Advisors Inc increased its stake in Teladoc Health by 201.5% during the second quarter. IFP Advisors Inc now owns 1,969 shares of the health services provider's stock worth $50,000 after acquiring an additional 1,316 shares during the last quarter. Institutional investors and hedge funds 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.