Evercore ISI Issues Positive Forecast for Teladoc Health (NYSE:TDOC) Stock Price

Teladoc Health (NYSE:TDOC - Get Free Report) had its price objective increased by Evercore ISI from $7.00 to $8.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an "in-line" rating on the health services provider's stock. Evercore ISI's price objective indicates a potential downside of 3.96% from the company's current price.

Other research analysts have also issued reports about the company. Citigroup cut their price objective on Teladoc Health from $11.00 to $8.75 and set a "neutral" rating on the stock in a research report on Friday, April 25th. Stifel Nicolaus cut their price objective on Teladoc Health from $9.00 to $8.00 and set a "hold" rating on the stock in a research report on Thursday, May 1st. Jefferies Financial Group cut their price objective 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. Wells Fargo & Company cut their price objective on Teladoc Health from $10.00 to $8.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 8th. Finally, Canaccord Genuity Group dropped their target price on Teladoc Health from $14.00 to $12.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Twelve equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, Teladoc Health has an average rating of "Hold" and a consensus target price of $9.65.

Teladoc Health Trading Down 5.4%

Shares of TDOC stock traded down $0.48 during mid-day trading on Wednesday, hitting $8.33. 6,740,379 shares of the company's stock were exchanged, compared to its average volume of 6,406,071. Teladoc Health has a fifty-two week low of $6.35 and a fifty-two week high of $15.21. The stock has a 50-day simple moving average of $7.47 and a two-hundred day simple moving average of $8.67. The company has a quick ratio of 1.64, a current ratio of 1.68 and a debt-to-equity ratio of 0.70. The stock has a market cap of $1.46 billion, a price-to-earnings ratio of -1.41 and a beta of 1.84.

Insider Activity at Teladoc Health

In other Teladoc Health news, insider Carlos Nueno sold 3,958 shares of Teladoc Health stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $6.86, for a total value of $27,151.88. Following the completion of the transaction, the insider directly owned 17,645 shares in the company, valued at $121,044.70. The trade was a 18.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Fernando M. Rodrigues sold 4,174 shares of Teladoc Health stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $6.91, for a total value of $28,842.34. The disclosure for this sale can be found here. Insiders sold a total of 18,656 shares of company stock valued at $128,189 over the last three months. 0.58% of the stock is owned by insiders.

Hedge Funds Weigh In On Teladoc Health

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Golden State Wealth Management LLC boosted its position in shares of Teladoc Health by 102.6% during the first quarter. Golden State Wealth Management LLC now owns 3,337 shares of the health services provider's stock worth $27,000 after buying an additional 1,690 shares during the period. Wedmont Private Capital boosted its position in shares of Teladoc Health by 20.3% during the first quarter. Wedmont Private Capital now owns 16,086 shares of the health services provider's stock worth $117,000 after buying an additional 2,715 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in shares of Teladoc Health by 60.8% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 39,738 shares of the health services provider's stock worth $316,000 after buying an additional 15,030 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Teladoc Health by 18.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,443,713 shares of the health services provider's stock worth $22,213,000 after buying an additional 384,528 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Teladoc Health by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 3,947,831 shares of the health services provider's stock worth $35,894,000 after buying an additional 22,664 shares during the period. 76.82% of the stock is currently owned by institutional investors and hedge funds.

About Teladoc Health

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.