The Goldman Sachs Group Initiates Coverage on Teladoc Health (NYSE:TDOC)

The Goldman Sachs Group initiated coverage on shares of Teladoc Health (NYSE:TDOC) in a research note issued to investors on Friday, MarketBeat.com reports. The firm issued a buy rating and a $14.00 price target on the health services provider’s stock.

Several other equities analysts also recently weighed in on the stock. Barclays increased their price target on shares of Teladoc Health from $10.00 to $12.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Evercore ISI increased their price objective on shares of Teladoc Health from $8.00 to $9.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 8th. Piper Sandler decreased their target price on shares of Teladoc Health from $25.00 to $10.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. JPMorgan Chase & Co. cut their price target on Teladoc Health from $16.00 to $9.00 and set a “neutral” rating on the stock in a research report on Monday, August 26th. Finally, Canaccord Genuity Group decreased their price objective on Teladoc Health from $25.00 to $17.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Fourteen analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $12.08.

Teladoc Health Trading Down 1.7 %

NYSE:TDOC opened at $9.06 on Friday. The company has a market capitalization of $1.56 billion, a P/E ratio of -1.57 and a beta of 0.90. The company has a current ratio of 1.73, a quick ratio of 1.69 and a debt-to-equity ratio of 0.66. Teladoc Health has a 12 month low of $6.76 and a 12 month high of $22.54. The firm has a fifty day simple moving average of $8.93 and a 200-day simple moving average of $9.34.

Teladoc Health (NYSE:TDOC) last issued its quarterly earnings results on Wednesday, October 30th. The health services provider reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.10. The company had revenue of $640.51 million during the quarter, compared to analysts’ expectations of $630.50 million. Teladoc Health had a negative return on equity of 10.06% and a negative net margin of 37.91%. On average, equities research analysts anticipate that Teladoc Health will post -1.17 earnings per share for the current year.

Insiders Place Their Bets

In related news, COO Michael Willem Waters sold 4,218 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $7.16, for a total transaction of $30,200.88. Following the completion of the sale, the chief operating officer now owns 78,309 shares of the company’s stock, valued at approximately $560,692.44. This represents a 5.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mala Murthy sold 8,750 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $7.16, for a total transaction of $62,650.00. Following the completion of the transaction, the chief financial officer now directly owns 85,767 shares in the company, valued at $614,091.72. This trade represents a 9.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 20,051 shares of company stock worth $143,565. Corporate insiders own 0.95% of the company’s stock.

Institutional Investors Weigh In On Teladoc Health

Several hedge funds and other institutional investors have recently made changes to their positions in TDOC. Signaturefd LLC grew its holdings in Teladoc Health by 148.7% in the 2nd quarter. Signaturefd LLC now owns 2,868 shares of the health services provider’s stock valued at $28,000 after buying an additional 1,715 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Teladoc Health in the second quarter valued at about $29,000. SageView Advisory Group LLC acquired a new stake in Teladoc Health during the first quarter worth about $48,000. Covestor Ltd raised its stake in Teladoc Health by 58.1% during the first quarter. Covestor Ltd now owns 3,817 shares of the health services provider’s stock worth $57,000 after purchasing an additional 1,403 shares during the period. Finally, Blue Trust Inc. boosted its holdings in Teladoc Health by 84.5% in the 3rd quarter. Blue Trust Inc. now owns 4,048 shares of the health services provider’s stock valued at $40,000 after purchasing an additional 1,854 shares during the last quarter. 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.