Teladoc Health (NYSE:TDOC) Releases Q1 2024 Earnings Guidance

Teladoc Health (NYSE:TDOC) issued an update on its first quarter 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of -0.550–0.450 for the period, compared to the consensus EPS estimate of -0.460. The company issued revenue guidance of $630.0 million-$645.0 million, compared to the consensus revenue estimate of $637.4 million. Teladoc Health also updated its FY 2024 guidance to -1.100–0.800 EPS.

Analyst Ratings Changes

A number of research analysts have recently commented on TDOC shares. Canaccord Genuity Group dropped their price objective on Teladoc Health from $34.00 to $28.00 and set a buy rating on the stock in a report on Wednesday, February 21st. Royal Bank of Canada reduced their price objective on shares of Teladoc Health from $30.00 to $25.00 and set an outperform rating for the company in a research report on Wednesday, February 21st. Needham & Company LLC reaffirmed a hold rating on shares of Teladoc Health in a research report on Friday, April 5th. SVB Leerink initiated coverage on shares of Teladoc Health in a research report on Monday, February 26th. They issued a market perform rating and a $17.00 price target for the company. Finally, Piper Sandler dropped their price objective on Teladoc Health from $30.00 to $25.00 and set an overweight rating on the stock in a report on Wednesday, February 21st. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Teladoc Health presently has a consensus rating of Hold and a consensus price target of $22.43.

Teladoc Health Price Performance

Shares of NYSE TDOC opened at $15.06 on Wednesday. Teladoc Health has a 1-year low of $13.59 and a 1-year high of $30.41. The company has a debt-to-equity ratio of 0.66, a current ratio of 3.54 and a quick ratio of 3.47. The stock has a fifty day moving average price of $16.59 and a 200 day moving average price of $18.19. The company has a market cap of $2.52 billion, a PE ratio of -11.24 and a beta of 0.94.

Teladoc Health (NYSE:TDOC) last announced its quarterly earnings data on Tuesday, February 20th. The health services provider reported ($0.17) earnings per share 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 firm had revenue of $660.50 million for the quarter, compared to analyst estimates of $670.79 million. During the same quarter in the prior year, the company posted ($0.23) earnings per share. Teladoc Health’s quarterly revenue was up 3.6% on a year-over-year basis. Sell-side analysts forecast that Teladoc Health will post -1.07 EPS for the current year.

Insider Activity at Teladoc Health

In other news, CTO Nikolaos P. Nanis sold 2,866 shares of Teladoc Health stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $14.52, for a total transaction of $41,614.32. Following the completion of the sale, the chief technology officer now directly owns 69,850 shares in the company, valued at approximately $1,014,222. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CTO Nikolaos P. Nanis sold 2,866 shares of Teladoc Health stock in a transaction on Monday, March 4th. The stock was sold at an average price of $14.52, for a total transaction of $41,614.32. Following the completion of the transaction, the chief technology officer now owns 69,850 shares of the company’s stock, valued at approximately $1,014,222. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Michael Willem Waters sold 4,523 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $19.18, for a total transaction of $86,751.14. Following the completion of the sale, the chief operating officer now directly owns 38,570 shares in the company, valued at $739,772.60. The disclosure for this sale can be found here. Insiders sold 134,441 shares of company stock worth $2,025,041 over the last 90 days. Company insiders own 1.63% of the company’s stock.

Institutional Investors Weigh In On Teladoc Health

A number of institutional investors and hedge funds have recently bought and sold shares of TDOC. Forum Financial Management LP grew its holdings in shares of Teladoc Health by 14.4% during the first quarter. Forum Financial Management LP now owns 3,094 shares of the health services provider’s stock worth $223,000 after buying an additional 390 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of Teladoc Health by 21.6% during the first quarter. Canada Pension Plan Investment Board now owns 2,900 shares of the health services provider’s stock worth $209,000 after purchasing an additional 515 shares during the last quarter. Mariner LLC increased its stake in Teladoc Health by 2.7% in the fourth quarter. Mariner LLC now owns 19,877 shares of the health services provider’s stock valued at $470,000 after purchasing an additional 525 shares during the last quarter. Nations Financial Group Inc. IA ADV boosted its stake in Teladoc Health by 7.9% in the 1st quarter. Nations Financial Group Inc. IA ADV now owns 8,475 shares of the health services provider’s stock worth $611,000 after buying an additional 622 shares during the last quarter. Finally, State of Wyoming increased its stake in shares of Teladoc Health by 16.0% during the 2nd quarter. State of Wyoming now owns 4,539 shares of the health services provider’s stock valued at $115,000 after acquiring an additional 626 shares during the last quarter. 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.