Teladoc Health (NYSE:TDOC) Stock Price Up 7% – Here’s Why

Teladoc Health, Inc. (NYSE:TDOC)’s share price rose 7% on Wednesday . The company traded as high as $10.66 and last traded at $11.13. Approximately 123,921 shares changed hands during trading, a decline of 97% from the average daily volume of 3,805,296 shares. The stock had previously closed at $10.40.

Analysts Set New Price Targets

Several analysts have commented on the company. TD Cowen cut their target price on Teladoc Health from $9.00 to $8.00 and set a “hold” rating on the stock in a research note on Thursday, October 31st. Evercore ISI boosted their price target on Teladoc Health from $8.00 to $9.00 and gave the company an “in-line” rating in a report on Tuesday, October 8th. Piper Sandler reiterated an “overweight” rating and issued a $13.00 target price (up previously from $11.00) on shares of Teladoc Health in a research note on Wednesday, December 4th. Barclays lifted their target price on shares of Teladoc Health from $10.00 to $12.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Finally, Oppenheimer decreased their price objective on Teladoc Health from $14.00 to $12.00 and set an “outperform” rating for the company in a report on Friday, January 24th. Fourteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $12.08.

Teladoc Health Stock Performance

The company has a market cap of $1.92 billion, a PE ratio of -1.93 and a beta of 1.04. The company’s fifty day moving average price is $10.02 and its 200 day moving average price is $9.08. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.73 and a quick ratio of 1.69.

Insider Buying and Selling

In other news, insider Carlos Nueno sold 2,389 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $11.93, for a total value of $28,500.77. Following the completion of the transaction, the insider now owns 2,890 shares of the company’s stock, valued at approximately $34,477.70. This represents a 45.25 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.95% of the stock is currently owned by insiders.

Institutional Trading of Teladoc Health

Several institutional investors have recently added to or reduced their stakes in TDOC. Blue Trust Inc. grew its stake in shares of Teladoc Health by 84.5% during 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 period. Versant Capital Management Inc boosted its holdings 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 buying an additional 2,441 shares during the period. Westside Investment Management Inc. raised its stake in Teladoc Health by 43.8% during the 4th quarter. Westside Investment Management Inc. now owns 9,200 shares of the health services provider’s stock valued at $84,000 after purchasing an additional 2,800 shares during the period. Private Advisor Group LLC boosted its position in shares of Teladoc Health by 26.9% during the third quarter. Private Advisor Group LLC now owns 13,990 shares of the health services provider’s stock worth $128,000 after acquiring an additional 2,962 shares during the last quarter. Finally, Whipplewood Advisors LLC bought a new stake in shares of Teladoc Health in the fourth quarter worth about $29,000. 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.