Teladoc Health (NYSE:TDOC) Stock Price Up 6.6% - Here's What Happened

Teladoc Health, Inc. (NYSE:TDOC - Get Free Report)'s stock price traded up 6.6% during trading on Wednesday . The stock traded as high as $9.94 and last traded at $10.13. 696,211 shares were traded during trading, a decline of 82% from the average session volume of 3,849,119 shares. The stock had previously closed at $9.50.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on TDOC shares. Piper Sandler reiterated an "overweight" rating and issued a $13.00 target price (up from $11.00) on shares of Teladoc Health in a research note on Wednesday, December 4th. Evercore ISI lifted their price objective on Teladoc Health from $8.00 to $9.00 and gave the company an "in-line" rating in a research note on Tuesday, October 8th. Barclays boosted their target price on Teladoc Health from $10.00 to $12.00 and gave the stock an "overweight" rating in a research report on Thursday, October 31st. The Goldman Sachs Group assumed coverage on Teladoc Health in a report on Friday, November 15th. They issued a "buy" rating and a $14.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Teladoc Health from $10.00 to $12.00 and gave the stock a "hold" rating in a report on Friday, November 1st. Fourteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $12.24.

Teladoc Health Price Performance

The firm's fifty day moving average price is $9.97 and its 200-day moving average price is $9.03. The company has a quick ratio of 1.69, a current ratio of 1.73 and a debt-to-equity ratio of 0.66. The stock has a market cap of $1.70 billion, a P/E ratio of -1.71 and a beta of 1.01.

Teladoc Health (NYSE:TDOC - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The health services provider reported ($0.19) earnings per share for the quarter, topping analysts' consensus estimates of ($0.29) by $0.10. The firm had revenue of $640.51 million for the quarter, compared to analyst estimates of $630.50 million. Teladoc Health had a negative return on equity of 10.06% and a negative net margin of 37.91%. Analysts forecast that Teladoc Health, Inc. will post -1.16 earnings per share for the current year.

Insider Transactions at Teladoc Health

In other Teladoc Health news, insider Carlos Nueno sold 2,389 shares of the company's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $11.93, for a total value of $28,500.77. Following the sale, the insider now owns 2,890 shares in the company, valued at approximately $34,477.70. This represents a 45.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.95% of the company's stock.

Hedge Funds Weigh In On Teladoc Health

Several large investors have recently modified their holdings of the stock. Versant Capital Management Inc boosted its stake in Teladoc Health by 313.8% during the 4th quarter. Versant Capital Management Inc now owns 3,219 shares of the health services provider's stock valued at $29,000 after purchasing an additional 2,441 shares during the last quarter. Blue Trust Inc. boosted its position in shares of Teladoc Health by 84.5% during the third quarter. Blue Trust Inc. now owns 4,048 shares of the health services provider's stock valued at $40,000 after buying an additional 1,854 shares during the last quarter. Doheny Asset Management CA purchased a new position in Teladoc Health in the 2nd quarter worth about $46,000. Benjamin F. Edwards & Company Inc. lifted its stake in Teladoc Health by 209.8% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 5,015 shares of the health services provider's stock valued at $49,000 after acquiring an additional 3,396 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. boosted its holdings in shares of Teladoc Health by 194.2% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,891 shares of the health services provider's stock valued at $67,000 after acquiring an additional 4,549 shares during the last quarter. Hedge funds and other institutional investors own 76.82% of the company's stock.

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.