Teladoc Health (NYSE:TDOC) Sees Unusually-High Trading Volume - What's Next?

Teladoc Health, Inc. (NYSE:TDOC - Get Free Report) shares saw an uptick in trading volume on Tuesday . 7,139,397 shares traded hands during mid-day trading, an increase of 13% from the previous session's volume of 6,337,400 shares.The stock last traded at $8.01 and had previously closed at $7.89.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on TDOC shares. Wells Fargo & Company decreased their price objective on Teladoc Health from $10.00 to $8.00 and set an "equal weight" rating on the stock in a report on Thursday, May 8th. Canaccord Genuity Group reduced 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. Citigroup lowered their price target on Teladoc Health from $11.00 to $8.75 and set a "neutral" rating for the company in a report on Friday, April 25th. The Goldman Sachs Group dropped their price objective on shares of Teladoc Health from $13.00 to $10.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Finally, Truist Financial decreased their target price on shares of Teladoc Health from $10.00 to $9.00 and set a "hold" rating on the stock in a research report on Tuesday, May 27th. Twelve research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $9.60.

Teladoc Health Stock Up 4.7%

The firm has a 50-day simple moving average of $7.16 and a 200 day simple moving average of $8.78. The company has a market capitalization of $1.48 billion, a PE ratio of -1.42 and a beta of 1.78. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.68 and a quick ratio of 1.64.

Insider Activity

In other news, insider Adam C. Vandervoort sold 5,808 shares of Teladoc Health stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $6.86, for a total transaction of $39,842.88. Following the sale, the insider now directly owns 69,773 shares of the company's stock, valued at approximately $478,642.78. The trade was a 7.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Fernando M. Rodrigues sold 4,174 shares of the firm's 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 have sold 18,656 shares of company stock worth $128,189 over the last 90 days. Company insiders own 0.58% of the company's stock.

Institutional Trading of Teladoc Health

Several institutional investors have recently added to or reduced their stakes in the stock. Wedmont Private Capital increased its holdings in shares of Teladoc Health by 20.3% in the 1st quarter. Wedmont Private Capital now owns 16,086 shares of the health services provider's stock valued at $117,000 after acquiring an additional 2,715 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Teladoc Health by 18.7% in 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 purchasing an additional 384,528 shares during the period. Geode Capital Management LLC increased its stake in 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 valued at $35,894,000 after purchasing an additional 22,664 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Teladoc Health by 22.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 14,725 shares of the health services provider's stock worth $134,000 after purchasing an additional 2,662 shares during the period. Finally, Commonwealth Equity Services LLC lifted its position in shares of Teladoc Health by 35.7% in the 4th quarter. Commonwealth Equity Services LLC now owns 113,563 shares of the health services provider's stock worth $1,032,000 after buying an additional 29,903 shares during the last quarter. 76.82% of the stock is 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.