Teladoc Health (NYSE:TDOC) Stock Price Expected to Rise, Bank of America Analyst Says

Teladoc Health (NYSE:TDOC) had its price objective lifted by Bank of America from $11.50 to $13.50 in a report released on Wednesday morning,Benzinga reports. They currently have a neutral rating on the health services provider’s stock.

A number of other analysts have also recently issued reports on the company. Deutsche Bank Aktiengesellschaft upped their target price on Teladoc Health from $10.00 to $12.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Royal Bank of Canada raised their target price on shares of Teladoc Health from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Friday, January 24th. Barclays upped their price target on shares of Teladoc Health from $10.00 to $12.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. The Goldman Sachs Group began coverage on shares of Teladoc Health in a research report on Friday, November 15th. They set a “buy” rating and a $14.00 price objective on the stock. Finally, TD Cowen decreased their target price on shares of Teladoc Health from $9.00 to $8.00 and set a “hold” rating for the company in a research note on Thursday, October 31st. Fourteen equities 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, the stock currently has a consensus rating of “Hold” and an average target price of $12.08.

Teladoc Health Stock Down 4.1 %

Shares of NYSE:TDOC opened at $12.51 on Wednesday. Teladoc Health has a 12 month low of $6.76 and a 12 month high of $21.74. 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 company’s fifty day moving average price is $10.16 and its 200 day moving average price is $9.22.

Insider Activity

In other news, insider Carlos Nueno sold 2,389 shares of the firm’s stock in a transaction 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 in the company, valued at $34,477.70. This trade represents a 45.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.95% of the company’s stock.

Institutional Investors Weigh In On Teladoc Health

Several institutional investors and hedge funds have recently made changes to their positions in the business. Point72 Asset Management L.P. raised its position in Teladoc Health by 57.8% during the third quarter. Point72 Asset Management L.P. now owns 8,366,295 shares of the health services provider’s stock worth $76,803,000 after acquiring an additional 3,063,172 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Teladoc Health during the 3rd quarter worth approximately $15,801,000. Maple Rock Capital Partners Inc. acquired a new position in shares of Teladoc Health during the 3rd quarter worth approximately $11,291,000. Vanguard Group Inc. lifted its stake in 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 valued at $167,830,000 after buying an additional 1,029,829 shares in the last quarter. Finally, Invenomic Capital Management LP grew its holdings in Teladoc Health by 155.2% during the 3rd quarter. Invenomic Capital Management LP now owns 1,474,337 shares of the health services provider’s stock valued at $13,534,000 after buying an additional 896,552 shares during the last quarter. 76.82% of the stock is currently owned by hedge funds and other institutional investors.

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.