Teladoc Health (NYSE:TDOC) Shares Gap Down on Disappointing Earnings

Teladoc Health, Inc. (NYSE:TDOC) shares gapped down prior to trading on Thursday following a dissappointing earnings announcement. The stock had previously closed at $10.99, but opened at $9.90. Teladoc Health shares last traded at $9.38, with a volume of 6,928,751 shares.

The health services provider reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.07). Teladoc Health had a negative net margin of 37.91% and a negative return on equity of 10.06%. The company had revenue of $640.49 million for the quarter, compared to the consensus estimate of $639.44 million.

Analyst Upgrades and Downgrades

TDOC has been the subject of several research analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Teladoc Health in a report on Thursday. Royal Bank of Canada raised their target price on Teladoc Health from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Friday, January 24th. Piper Sandler dropped their target price on Teladoc Health from $13.00 to $12.00 and set an “overweight” rating on the stock in a research report on Thursday. Barclays raised their target price on Teladoc Health from $10.00 to $12.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Finally, Oppenheimer dropped their target price on Teladoc Health from $14.00 to $12.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. Eleven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $11.44.

Insider Activity

In other news, insider Carlos Nueno sold 2,389 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $11.93, for a total transaction of $28,500.77. Following the transaction, the insider now owns 2,890 shares of the company’s stock, valued at approximately $34,477.70. The trade was a 45.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.95% of the company’s stock.

Hedge Funds Weigh In On Teladoc Health

Hedge funds have recently bought and sold shares of the business. Point72 Asset Management L.P. lifted its holdings in shares of Teladoc Health by 57.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 8,366,295 shares of the health services provider’s stock worth $76,803,000 after buying an additional 3,063,172 shares during the period. Maple Rock Capital Partners Inc. lifted its holdings in shares of Teladoc Health by 189.5% in the 4th quarter. Maple Rock Capital Partners Inc. now owns 3,561,000 shares of the health services provider’s stock worth $32,369,000 after buying an additional 2,331,000 shares during the period. Two Sigma Investments LP purchased a new stake in shares of Teladoc Health in the 4th quarter worth $18,348,000. Two Sigma Advisers LP lifted its holdings in shares of Teladoc Health by 213.0% in the 4th quarter. Two Sigma Advisers LP now owns 2,258,711 shares of the health services provider’s stock worth $20,532,000 after buying an additional 1,537,094 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of Teladoc Health by 5.9% in the 4th quarter. Vanguard Group Inc. now owns 18,463,155 shares of the health services provider’s stock worth $167,830,000 after buying an additional 1,029,829 shares during the period. Institutional investors own 76.82% of the company’s stock.

Teladoc Health Stock Down 15.2 %

The firm has a market capitalization of $1.60 billion, a PE ratio of -1.62 and a beta of 1.04. The company has a fifty day simple moving average of $10.61 and a two-hundred day simple moving average of $9.53. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.69 and a current ratio of 1.73.

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.