Teladoc Health (NYSE:TDOC) Issues Q2 2024 Earnings Guidance

Teladoc Health (NYSE:TDOC) issued an update on its second quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of -0.450–0.350 for the period, compared to the consensus earnings per share estimate of -0.300. The company issued revenue guidance of $635.0 million-$660.0 million, compared to the consensus revenue estimate of $662.6 million. Teladoc Health also updated its FY24 guidance to ($1.10)-($0.80) EPS.

Teladoc Health Trading Down 2.4 %

NYSE TDOC traded down $0.32 during trading on Friday, hitting $13.01. The company’s stock had a trading volume of 7,696,741 shares, compared to its average volume of 4,813,149. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.47 and a current ratio of 3.54. The firm has a 50 day moving average price of $14.85 and a 200 day moving average price of $17.72. Teladoc Health has a 52 week low of $12.65 and a 52 week high of $30.41.

Teladoc Health (NYSE:TDOC) last announced its quarterly earnings results on Thursday, April 25th. The health services provider reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.47) by ($0.02). The company had revenue of $646.13 million during the quarter, compared to analyst estimates of $637.31 million. Teladoc Health had a negative net margin of 8.90% and a negative return on equity of 10.11%. Teladoc Health’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.37) EPS. Equities research analysts predict that Teladoc Health will post -1.06 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

TDOC has been the subject of a number of recent analyst reports. Needham & Company LLC reiterated a hold rating on shares of Teladoc Health in a report on Friday. Barclays lowered their price target on Teladoc Health from $25.00 to $20.00 and set an overweight rating for the company in a report on Friday. Royal Bank of Canada reduced their price objective on Teladoc Health from $25.00 to $18.00 and set an outperform rating for the company in a research report on Friday. Truist Financial reduced their price objective on Teladoc Health from $23.00 to $17.00 and set a hold rating for the company in a research report on Wednesday, March 6th. Finally, Evercore ISI reduced their price objective on Teladoc Health from $15.00 to $14.00 and set an in-line rating for the company in a research report on Friday. Eleven research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Teladoc Health presently has a consensus rating of Hold and an average price target of $19.67.

Insider Transactions at Teladoc Health

In other news, EVP Andrew Turitz sold 6,190 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $14.52, for a total transaction of $89,878.80. Following the transaction, the executive vice president now owns 39,429 shares in the company, valued at $572,509.08. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Teladoc Health news, CEO Jason N. Gorevic sold 53,755 shares of Teladoc Health stock in a transaction on Monday, March 4th. The stock was sold at an average price of $14.52, for a total value of $780,522.60. Following the completion of the transaction, the chief executive officer now directly owns 653,073 shares of the company’s stock, valued at approximately $9,482,619.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Andrew Turitz sold 6,190 shares of Teladoc Health stock in a transaction on Monday, March 4th. The shares were sold at an average price of $14.52, for a total value of $89,878.80. Following the completion of the transaction, the executive vice president now directly owns 39,429 shares of the company’s stock, valued at $572,509.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 135,441 shares of company stock worth $2,038,251. Company insiders own 1.63% 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.