Teladoc Health (NYSE:TDOC) Shares Gap Up – Here’s What Happened

Teladoc Health, Inc. (NYSE:TDOC)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $9.03, but opened at $9.25. Teladoc Health shares last traded at $9.59, with a volume of 2,357,100 shares changing hands.

Wall Street Analyst Weigh In

TDOC has been the subject of a number of recent analyst reports. Bank of America upped their target price on Teladoc Health from $11.50 to $13.50 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Piper Sandler dropped their price objective on Teladoc Health from $13.00 to $12.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. Oppenheimer cut their price target on Teladoc Health from $14.00 to $12.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Needham & Company LLC reissued a “hold” rating on shares of Teladoc Health in a report on Thursday, February 27th. Finally, Royal Bank of Canada lifted their target price on Teladoc Health from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Friday, January 24th. Eleven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Teladoc Health currently has a consensus rating of “Hold” and an average target price of $11.26.

Teladoc Health Price Performance

The stock has a 50 day moving average of $10.63 and a 200-day moving average of $9.62. The company has a current ratio of 1.73, a quick ratio of 1.69 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $1.67 billion, a P/E ratio of -1.66 and a beta of 1.27.

Teladoc Health (NYSE:TDOC) last released its earnings results on Wednesday, February 26th. The health services provider reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.07). The business had revenue of $640.49 million for the quarter, compared to the consensus estimate of $639.44 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, Inc. will post -1.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Teladoc Health

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Versant Capital Management Inc grew its stake in Teladoc Health by 313.8% in the 4th quarter. Versant Capital Management Inc now owns 3,219 shares of the health services provider’s stock worth $29,000 after acquiring an additional 2,441 shares in the last quarter. Whipplewood Advisors LLC purchased a new stake in shares of Teladoc Health in the fourth quarter valued at approximately $29,000. Lindbrook Capital LLC grew its stake in 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 in the last quarter. Sterling Capital Management LLC grew its stake in Teladoc Health by 776.7% in the fourth quarter. Sterling Capital Management LLC now owns 4,629 shares of the health services provider’s stock worth $42,000 after purchasing an additional 4,101 shares in the last quarter. Finally, Pilgrim Partners Asia Pte Ltd purchased a new position in Teladoc Health during the 4th quarter worth $60,000. 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.