Teladoc Health (NYSE:TDOC) Shares Down 4.8% - Should You Sell?

Shares of Teladoc Health, Inc. (NYSE:TDOC - Get Free Report) traded down 4.8% on Wednesday . The stock traded as low as $7.78 and last traded at $7.62. 1,758,941 shares were traded during mid-day trading, a decline of 72% from the average session volume of 6,356,865 shares. The stock had previously closed at $8.00.

Wall Street Analyst Weigh In

Several analysts have weighed in on TDOC shares. Canaccord Genuity Group decreased their price objective on shares of Teladoc Health from $14.00 to $12.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Truist Financial decreased their price target on Teladoc Health from $10.00 to $9.00 and set a "hold" rating on the stock in a research report on Tuesday, May 27th. Needham & Company LLC reaffirmed a "hold" rating on shares of Teladoc Health in a report on Thursday, May 1st. Stifel Nicolaus dropped their price target on Teladoc Health from $9.00 to $8.00 and set a "hold" rating for the company in a report on Thursday, May 1st. Finally, Jefferies Financial Group dropped their price target on Teladoc Health from $10.00 to $8.00 and set a "hold" rating for the company in a report on Monday, April 21st. Twelve investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $9.60.

Teladoc Health Stock Up 4.7%

The firm's 50-day simple moving average is $7.19 and its 200 day simple moving average is $8.76. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.64 and a current ratio of 1.68. The company has a market cap of $1.48 billion, a P/E ratio of -1.42 and a beta of 1.78.

Insider Buying and Selling

In other news, insider Adam C. Vandervoort sold 5,808 shares of Teladoc Health stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $6.86, for a total transaction of $39,842.88. Following the transaction, the insider now directly owns 69,773 shares of the company's stock, valued at $478,642.78. This trade represents a 7.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Carlos Nueno sold 3,958 shares of Teladoc Health stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $6.86, for a total transaction of $27,151.88. Following the transaction, the insider now directly owns 17,645 shares in the company, valued at approximately $121,044.70. This represents a 18.32% decrease in their ownership of the stock. 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. Company insiders own 0.58% of the company's stock.

Hedge Funds Weigh In On Teladoc Health

A number of hedge funds and other institutional investors have recently made changes to their positions in TDOC. Point72 Asset Management L.P. boosted its position in shares of Teladoc Health by 33.6% during the fourth quarter. Point72 Asset Management L.P. now owns 11,179,863 shares of the health services provider's stock worth $101,625,000 after purchasing an additional 2,813,568 shares in the last quarter. Maple Rock Capital Partners Inc. boosted its stake in Teladoc Health by 189.5% in the 4th quarter. Maple Rock Capital Partners Inc. now owns 3,561,000 shares of the health services provider's stock worth $32,369,000 after purchasing an additional 2,331,000 shares during the period. Two Sigma Investments LP acquired a new position in Teladoc Health in the 4th quarter worth $18,348,000. Two Sigma Advisers LP raised its stake in shares of Teladoc Health by 213.0% in the 4th quarter. Two Sigma Advisers LP now owns 2,258,711 shares of the health services provider's stock valued at $20,532,000 after purchasing an additional 1,537,094 shares during the period. Finally, Nuveen LLC bought a new stake in shares of Teladoc Health in the first quarter valued at about $11,789,000. 76.82% of the stock is owned by institutional investors.

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.