Teladoc Health (NYSE:TDOC) Trading 7.9% Higher - Still a Buy?

Teladoc Health, Inc. (NYSE:TDOC - Get Free Report)'s share price traded up 7.9% during mid-day trading on Monday . The company traded as high as $8.73 and last traded at $8.69. 1,389,528 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 6,369,824 shares. The stock had previously closed at $8.05.

Analysts Set New Price Targets

Several research firms recently weighed in on TDOC. Needham & Company LLC restated a "hold" rating on shares of Teladoc Health in a report on Thursday, May 1st. Canaccord Genuity Group lowered their price objective on shares of Teladoc Health from $14.00 to $12.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Bank of America reduced their price target on shares of Teladoc Health from $8.00 to $7.00 and set a "neutral" rating for the company in a research note on Wednesday, May 28th. Truist Financial reduced their price target on shares of Teladoc Health from $10.00 to $9.00 and set a "hold" rating for the company in a research report on Tuesday, May 27th. Finally, Evercore ISI upped their price objective on shares of Teladoc Health from $7.00 to $8.00 and gave the company an "in-line" rating in a research note on Wednesday, July 9th. Twelve analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, Teladoc Health currently has a consensus rating of "Hold" and a consensus price target of $9.65.

Teladoc Health Stock Up 0.7%

The company has a debt-to-equity ratio of 0.70, a current ratio of 1.68 and a quick ratio of 1.64. The firm has a 50-day simple moving average of $7.57 and a two-hundred day simple moving average of $8.62. The company has a market cap of $1.47 billion, a PE ratio of -1.42 and a beta of 1.84.

Insider Activity

In other Teladoc Health news, insider Adam C. Vandervoort sold 5,808 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $6.86, for a total transaction of $39,842.88. Following the completion of the sale, the insider directly owned 69,773 shares in the company, valued at $478,642.78. This represents a 7.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Carlos Nueno sold 3,958 shares of the firm's stock in a transaction that occurred 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 sale, the insider directly owned 17,645 shares of the company's stock, valued at approximately $121,044.70. The trade was a 18.32% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,656 shares of company stock valued at $128,189. 0.58% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Teladoc Health

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank Hapoalim BM acquired a new stake in shares of Teladoc Health during the 2nd quarter worth approximately $777,000. Impact Investors Inc raised its stake in shares of Teladoc Health by 17.6% during the second quarter. Impact Investors Inc now owns 21,620 shares of the health services provider's stock valued at $188,000 after acquiring an additional 3,232 shares during the last quarter. Ameritas Advisory Services LLC bought a new position in Teladoc Health during the second quarter worth $78,000. Brave Asset Management Inc. acquired a new stake in Teladoc Health in the second quarter worth $131,000. Finally, Counterpoint Mutual Funds LLC acquired a new stake in Teladoc Health in the second quarter worth $374,000. 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.