Investors Purchase High Volume of Call Options on Teladoc Health (NYSE:TDOC)

Teladoc Health, Inc. (NYSE:TDOC) saw unusually large options trading activity on Thursday. Stock traders bought 33,742 call options on the stock. This represents an increase of approximately 66% compared to the average daily volume of 20,354 call options.

Teladoc Health Price Performance

Shares of TDOC traded up $0.38 during mid-day trading on Thursday, reaching $9.41. 11,280,419 shares of the company’s stock were exchanged, compared to its average volume of 8,409,156. Teladoc Health has a 52-week low of $6.76 and a 52-week high of $15.95. The company has a quick ratio of 1.69, a current ratio of 1.73 and a debt-to-equity ratio of 0.66. The company has a 50-day simple moving average of $10.63 and a two-hundred day simple moving average of $9.62. The company has a market cap of $1.63 billion, a price-to-earnings ratio of -1.63 and a beta of 1.27.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on TDOC shares. Needham & Company LLC restated a “hold” rating on shares of Teladoc Health in a research report on Thursday, February 27th. Oppenheimer reduced their price target on Teladoc Health from $14.00 to $12.00 and set an “outperform” rating for the company in a report on Friday, January 24th. Royal Bank of Canada upped their price objective on Teladoc Health from $11.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. Piper Sandler reduced their target price on Teladoc Health from $13.00 to $12.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. Finally, Bank of America boosted their target price on shares of Teladoc Health from $11.50 to $13.50 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Eleven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $11.26.

Institutional Investors Weigh In On Teladoc Health

A number of hedge funds and other institutional investors have recently modified their holdings of TDOC. Private Advisor Group LLC raised its holdings in Teladoc Health by 26.9% in the 3rd quarter. Private Advisor Group LLC now owns 13,990 shares of the health services provider’s stock valued at $128,000 after acquiring an additional 2,962 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of Teladoc Health by 693.0% in the third quarter. International Assets Investment Management LLC now owns 23,299 shares of the health services provider’s stock valued at $214,000 after purchasing an additional 20,361 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new position in Teladoc Health in the third quarter valued at $111,000. Janney Montgomery Scott LLC increased its stake in Teladoc Health by 63.0% in the third quarter. Janney Montgomery Scott LLC now owns 106,727 shares of the health services provider’s stock valued at $980,000 after purchasing an additional 41,250 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its position in Teladoc Health by 141.9% during the third quarter. Robeco Institutional Asset Management B.V. now owns 575,055 shares of the health services provider’s stock worth $5,279,000 after buying an additional 337,305 shares during the period. 76.82% of the stock is currently owned by hedge funds and other institutional investors.

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.