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

Teladoc Health (NYSE:TDOC) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of -1.100–0.800 for the period, compared to the consensus estimate of -1.030. The company issued revenue guidance of $2.6 billion-$2.7 billion, compared to the consensus revenue estimate of $2.7 billion. Teladoc Health also updated its Q1 2024 guidance to -0.550–0.450 EPS.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. SVB Leerink assumed coverage on Teladoc Health in a research note on Monday, February 26th. They issued a market perform rating and a $17.00 price target for the company. DA Davidson lowered their target price on Teladoc Health from $22.00 to $18.00 and set a neutral rating for the company in a research note on Wednesday, February 21st. Citigroup lowered their target price on Teladoc Health from $21.00 to $19.00 and set a neutral rating for the company in a research note on Wednesday, February 21st. Needham & Company LLC reissued a hold rating on shares of Teladoc Health in a research note on Friday, April 5th. Finally, Truist Financial lowered their target price on Teladoc Health from $23.00 to $17.00 and set a hold rating for the company in a research note on Wednesday, March 6th. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Teladoc Health presently has a consensus rating of Hold and an average target price of $22.43.

Teladoc Health Price Performance

Shares of TDOC stock opened at $14.50 on Thursday. The stock has a market cap of $2.42 billion, a price-to-earnings ratio of -10.82 and a beta of 0.94. The business’s fifty day moving average is $16.49 and its 200 day moving average is $18.16. Teladoc Health has a twelve month low of $13.59 and a twelve month high of $30.41. The company has a quick ratio of 3.47, a current ratio of 3.54 and a debt-to-equity ratio of 0.66.

Teladoc Health (NYSE:TDOC) last issued its quarterly earnings results on Tuesday, February 20th. The health services provider reported ($0.17) earnings per share 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 prior year, the firm earned ($0.23) earnings per share. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. Research analysts expect that Teladoc Health will post -1.07 EPS for the current fiscal year.

Insider Activity

In other news, insider Laizer Kornwasser sold 7,882 shares of the company’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $19.18, for a total transaction of $151,176.76. Following the transaction, the insider now directly owns 57,223 shares of the company’s stock, valued at $1,097,537.14. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Teladoc Health news, insider Laizer Kornwasser sold 7,882 shares of the stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $19.18, for a total value of $151,176.76. Following the transaction, the insider now owns 57,223 shares of the company’s stock, valued at $1,097,537.14. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CMO Stephany Verstraete sold 7,945 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $14.52, for a total value of $115,361.40. Following the completion of the transaction, the chief marketing officer now directly owns 56,486 shares in the company, valued at approximately $820,176.72. The disclosure for this sale can be found here. Insiders have sold a total of 134,441 shares of company stock valued at $2,025,041 over the last ninety days. 1.63% of the stock is currently owned by corporate insiders.

Institutional Trading of Teladoc Health

Institutional investors have recently made changes to their positions in the business. Forum Financial Management LP lifted its stake in shares of Teladoc Health by 14.4% in the 1st quarter. Forum Financial Management LP now owns 3,094 shares of the health services provider’s stock valued at $223,000 after purchasing an additional 390 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of Teladoc Health by 21.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 2,900 shares of the health services provider’s stock valued at $209,000 after purchasing an additional 515 shares during the last quarter. Mariner LLC lifted its stake in shares of Teladoc Health by 2.7% in the 4th 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 lifted its stake in shares of 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 valued at $611,000 after purchasing an additional 622 shares during the last quarter. Finally, State of Wyoming lifted its stake in shares of Teladoc Health by 16.0% in the 2nd quarter. State of Wyoming now owns 4,539 shares of the health services provider’s stock valued at $115,000 after purchasing 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.