Short Interest in Teladoc Health, Inc. (NYSE:TDOC) Declines By 19.0%

Teladoc Health, Inc. (NYSE:TDOC) was the recipient of a large drop in short interest in the month of March. As of March 31st, there was short interest totalling 21,720,000 shares, a drop of 19.0% from the March 15th total of 26,820,000 shares. Currently, 12.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 7,660,000 shares, the days-to-cover ratio is presently 2.8 days.

Teladoc Health Stock Performance

TDOC traded down $0.31 during trading on Monday, hitting $6.52. 6,105,079 shares of the company traded hands, compared to its average volume of 6,247,078. Teladoc Health has a one year low of $6.36 and a one year high of $15.21. The stock’s fifty day moving average is $9.05 and its 200 day moving average is $9.62. The firm has a market cap of $1.14 billion, a P/E ratio of -1.13 and a beta of 1.73. The company has a quick ratio of 1.69, a current ratio of 1.73 and a debt-to-equity ratio of 0.66.

Teladoc Health (NYSE:TDOC) last released its earnings results on Wednesday, February 26th. The health services provider reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.07). The firm had revenue of $640.49 million during the quarter, compared to analysts’ expectations of $639.44 million. Teladoc Health had a negative return on equity of 10.06% and a negative net margin of 37.91%. As a group, equities analysts predict that Teladoc Health will post -1.16 EPS for the current fiscal year.

Insider Buying and Selling at Teladoc Health

In other news, insider Adam C. Vandervoort sold 11,011 shares of the firm’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $8.42, for a total value of $92,712.62. Following the sale, the insider now directly owns 64,308 shares in the company, valued at approximately $541,473.36. This trade represents a 14.62 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.95% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Whipplewood Advisors LLC purchased a new stake in Teladoc Health during the fourth quarter valued at about $29,000. Versant Capital Management Inc lifted its position in Teladoc Health by 313.8% in the fourth quarter. Versant Capital Management Inc now owns 3,219 shares of the health services provider’s stock valued at $29,000 after purchasing an additional 2,441 shares during the last quarter. Lindbrook Capital LLC grew its holdings in shares of Teladoc Health by 78.9% in the fourth quarter. Lindbrook Capital LLC now owns 3,654 shares of the health services provider’s stock worth $33,000 after purchasing an additional 1,612 shares during the last quarter. Sterling Capital Management LLC boosted its position in Teladoc Health by 776.7% during the 4th quarter. Sterling Capital Management LLC now owns 4,629 shares of the health services provider’s stock valued at $42,000 after buying an additional 4,101 shares during the period. Finally, Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Teladoc Health in the fourth quarter valued at about $60,000. 76.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Bank of America reduced their price objective on Teladoc Health from $9.50 to $8.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Piper Sandler dropped their price target on shares of Teladoc Health from $13.00 to $12.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. The Goldman Sachs Group reduced their price objective on shares of Teladoc Health from $16.00 to $13.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. Jefferies Financial Group decreased their price target on Teladoc Health from $10.00 to $8.00 and set a “hold” rating for the company in a research note on Monday. Finally, Royal Bank of Canada upped their target price on Teladoc Health from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Friday, January 24th. Eleven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Teladoc Health presently has an average rating of “Hold” and a consensus price target of $10.82.

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.