Teladoc Health (NYSE:TDOC) Stock Price Up 6.8% - Still a Buy?

Teladoc Health, Inc. (NYSE:TDOC - Get Free Report)'s stock price traded up 6.8% during mid-day trading on Monday . The stock traded as high as $6.88 and last traded at $7.37. 921,810 shares changed hands during trading, a decline of 85% from the average session volume of 6,240,708 shares. The stock had previously closed at $6.90.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Piper Sandler cut their target price on shares of Teladoc Health from $13.00 to $12.00 and set an "overweight" rating on the stock in a research note on Thursday, February 27th. Jefferies Financial Group dropped their price target on shares of Teladoc Health from $10.00 to $8.00 and set a "hold" rating on the stock in a research note on Monday, April 21st. Needham & Company LLC reaffirmed a "hold" rating on shares of Teladoc Health in a research note on Thursday, May 1st. Evercore ISI dropped their price target on shares of Teladoc Health from $8.00 to $7.00 and set an "in-line" rating on the stock in a research note on Thursday, May 1st. Finally, Citigroup dropped their price target on shares of Teladoc Health from $11.00 to $8.75 and set a "neutral" rating on the stock in a research note on Friday, April 25th. Twelve equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Teladoc Health has a consensus rating of "Hold" and an average price target of $9.60.

Teladoc Health Price Performance

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 capitalization of $1.41 billion, a price-to-earnings ratio of -1.35 and a beta of 1.78. The company's 50-day simple moving average is $7.16 and its 200 day simple moving average is $8.78.

Insiders Place Their Bets

In other news, insider Carlos Nueno sold 3,958 shares of the firm's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $6.86, for a total value of $27,151.88. Following the sale, the insider now directly owns 17,645 shares of the company's stock, valued at approximately $121,044.70. This trade represents a 18.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Fernando M. Rodrigues sold 4,174 shares of the firm's stock in a transaction dated 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 valued at $128,189 over the last three months. 0.58% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Teladoc Health

Several hedge funds and other institutional investors have recently made changes to their positions in TDOC. Golden State Wealth Management LLC grew its position in shares of Teladoc Health by 102.6% in the first quarter. Golden State Wealth Management LLC now owns 3,337 shares of the health services provider's stock valued at $27,000 after purchasing an additional 1,690 shares during the last quarter. National Bank of Canada FI lifted its stake in shares of Teladoc Health by 79.4% in the first quarter. National Bank of Canada FI now owns 3,571 shares of the health services provider's stock valued at $28,000 after buying an additional 1,581 shares during the period. Whipplewood Advisors LLC bought a new stake in shares of Teladoc Health in the fourth quarter valued at about $29,000. Lindbrook Capital LLC lifted its stake in shares of Teladoc Health by 78.9% in the fourth quarter. Lindbrook Capital LLC now owns 3,654 shares of the health services provider's stock valued at $33,000 after buying an additional 1,612 shares during the period. Finally, SVB Wealth LLC bought a new stake in shares of Teladoc Health in the first quarter valued at about $37,000. 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.