Teladoc Health (NYSE:TDOC) Issues Q1 Earnings Guidance

Teladoc Health (NYSE:TDOC) updated its first quarter earnings guidance on Friday. The company provided EPS guidance of ($0.55)-($0.45) for the period, compared to the consensus EPS estimate of ($0.46). The company issued revenue guidance of $630-645 million, compared to the consensus revenue estimate of $638.96 million. Teladoc Health also updated its FY24 guidance to ($1.10)-($0.80) EPS.

Teladoc Health Price Performance

TDOC stock opened at $14.49 on Monday. The company has a current ratio of 3.54, a quick ratio of 3.47 and a debt-to-equity ratio of 0.66. Teladoc Health has a 12-month low of $13.59 and a 12-month high of $30.41. The business’s 50-day moving average is $16.80 and its 200 day moving average is $18.25.

Teladoc Health (NYSE:TDOC) last posted its quarterly earnings data on Tuesday, February 20th. The health services provider reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $670.79 million. During the same period in the previous year, the firm posted ($0.23) EPS. Teladoc Health’s revenue was up 3.6% compared to the same quarter last year. As a group, equities analysts expect that Teladoc Health will post -1.07 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on TDOC. Needham & Company LLC restated a hold rating on shares of Teladoc Health in a research report on Friday. Cantor Fitzgerald began coverage on Teladoc Health in a research report on Thursday, February 29th. They issued an overweight rating and a $22.00 price objective for the company. SVB Leerink began coverage on Teladoc Health in a research report on Monday, February 26th. They issued a market perform rating and a $17.00 price objective for the company. Citigroup lowered their price objective on Teladoc Health from $21.00 to $19.00 and set a neutral rating for the company in a research report on Wednesday, February 21st. Finally, Royal Bank of Canada lowered their price objective on Teladoc Health from $30.00 to $25.00 and set an outperform rating for the company in a research 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 data from MarketBeat, the company has a consensus rating of Hold and a consensus target price of $22.43.

Insiders Place Their Bets

In other Teladoc Health news, CAO Richard J. Napolitano sold 3,765 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $14.52, for a total transaction of $54,667.80. Following the transaction, the chief accounting officer now owns 18,077 shares of the company’s stock, valued at $262,478.04. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Andrew Turitz sold 6,190 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $14.52, for a total transaction of $89,878.80. Following the transaction, the executive vice president now owns 39,429 shares of the company’s stock, valued at $572,509.08. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Richard J. Napolitano sold 3,765 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $14.52, for a total value of $54,667.80. Following the transaction, the chief accounting officer now directly owns 18,077 shares in the company, valued at approximately $262,478.04. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 134,441 shares of company stock valued at $2,025,041. 1.63% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Teladoc Health

A number of hedge funds have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its position in Teladoc Health by 12.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 81,189 shares of the health services provider’s stock valued at $1,750,000 after purchasing an additional 9,039 shares during the period. Public Employees Retirement System of Ohio lifted its position in Teladoc Health by 4.3% in the fourth quarter. Public Employees Retirement System of Ohio now owns 70,120 shares of the health services provider’s stock valued at $1,511,000 after purchasing an additional 2,912 shares during the period. Vanguard Group Inc. lifted its position in Teladoc Health by 11.8% in the fourth quarter. Vanguard Group Inc. now owns 17,515,127 shares of the health services provider’s stock valued at $377,451,000 after purchasing an additional 1,855,480 shares during the period. Oracle Alpha Inc. acquired a new stake in Teladoc Health in the fourth quarter valued at about $250,000. Finally, Prelude Capital Management LLC acquired a new stake in Teladoc Health in the fourth quarter valued at about $550,000. Institutional investors and hedge funds own 76.82% of the company’s stock.

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.