Teladoc Health (NYSE:TDOC) Sees Unusually-High Trading Volume

Shares of Teladoc Health, Inc. (NYSE:TDOC) saw unusually-high trading volume on Friday . Approximately 2,492,925 shares changed hands during mid-day trading, a decline of 46% from the previous session’s volume of 4,627,917 shares.The stock last traded at $14.15 and had previously closed at $14.25.

Wall Street Analysts Forecast Growth

TDOC has been the topic of several recent analyst reports. Cantor Fitzgerald initiated coverage on shares of Teladoc Health in a report on Thursday, February 29th. They issued an “overweight” rating and a $22.00 target price on the stock. Truist Financial cut their target price on shares of Teladoc Health from $23.00 to $17.00 and set a “hold” rating on the stock in a report on Wednesday, March 6th. Royal Bank of Canada cut their price target on shares of Teladoc Health from $30.00 to $25.00 and set an “outperform” rating on the stock in a report on Wednesday, February 21st. DA Davidson cut their price target on shares of Teladoc Health from $22.00 to $18.00 and set a “neutral” rating on the stock in a report on Wednesday, February 21st. Finally, Canaccord Genuity Group cut their price target on shares of Teladoc Health from $34.00 to $28.00 and set a “buy” rating on the stock in a report on Wednesday, February 21st. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Teladoc Health currently has a consensus rating of “Hold” and a consensus price target of $22.43.

Teladoc Health Stock Performance

The company has a market capitalization of $2.44 billion, a P/E ratio of -10.63 and a beta of 0.94. The business has a 50-day moving average of $16.91 and a 200-day moving average of $18.32. The company has a debt-to-equity ratio of 0.66, a current ratio of 3.54 and a quick ratio of 3.47.

Teladoc Health (NYSE:TDOC) last issued its quarterly earnings results on Tuesday, February 20th. The health services provider reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.05. Teladoc Health had a negative return on equity of 9.22% and a negative net margin of 8.47%. The company had revenue of $660.50 million during the quarter, compared to the consensus estimate of $670.79 million. During the same period last year, the company earned ($0.23) earnings per share. Teladoc Health’s revenue was up 3.6% on a year-over-year basis. On average, sell-side analysts anticipate that Teladoc Health, Inc. will post -1.07 EPS for the current year.

Insider Transactions at Teladoc Health

In other news, insider Arnnon Geshuri sold 7,500 shares of Teladoc Health stock in a transaction on Monday, March 25th. The stock was sold at an average price of $15.06, for a total transaction of $112,950.00. Following the completion of the sale, the insider now directly owns 38,470 shares in the company, valued at $579,358.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Arnnon Geshuri sold 7,500 shares of Teladoc Health stock in a transaction on Monday, March 25th. The stock was sold at an average price of $15.06, for a total transaction of $112,950.00. Following the completion of the sale, the insider now directly owns 38,470 shares in the company, valued at $579,358.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Nikolaos P. Nanis sold 2,866 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $14.52, for a total value of $41,614.32. Following the transaction, the chief technology officer now owns 69,850 shares in the company, valued at approximately $1,014,222. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 134,441 shares of company stock worth $2,025,041. 1.63% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Teladoc Health

Institutional investors have recently made changes to their positions in the company. Acadian Asset Management LLC purchased a new position in shares of Teladoc Health during the first quarter valued at $27,000. Covestor Ltd increased its stake in shares of Teladoc Health by 1,711.7% during the first quarter. Covestor Ltd now owns 1,087 shares of the health services provider’s stock valued at $78,000 after buying an additional 1,027 shares during the period. Geneos Wealth Management Inc. grew its stake in Teladoc Health by 215.5% in the first quarter. Geneos Wealth Management Inc. now owns 1,161 shares of the health services provider’s stock valued at $83,000 after purchasing an additional 793 shares during the last quarter. Dark Forest Capital Management LP grew its stake in Teladoc Health by 408.2% in the first quarter. Dark Forest Capital Management LP now owns 1,245 shares of the health services provider’s stock valued at $32,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Tyler Stone Wealth Management purchased a new position in Teladoc Health in the second quarter valued at about $33,000. 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.