Piper Sandler Cuts Teladoc Health (NYSE:TDOC) Price Target to $12.00

Teladoc Health (NYSE:TDOC) had its price objective lowered by equities research analysts at Piper Sandler from $13.00 to $12.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the health services provider’s stock. Piper Sandler’s target price would suggest a potential upside of 10.04% from the company’s current price.

Several other research analysts also recently weighed in on TDOC. Barclays upped their target price on shares of Teladoc Health from $10.00 to $12.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. TD Cowen dropped their price objective on Teladoc Health from $9.00 to $8.00 and set a “hold” rating for the company in a research note on Thursday, October 31st. 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. The Goldman Sachs Group upped their price target on Teladoc Health from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Finally, Oppenheimer reduced their price objective on shares of 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 equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $11.44.

Teladoc Health Stock Performance

Shares of TDOC opened at $10.91 on Thursday. The business has a 50-day simple moving average of $10.61 and a two-hundred day simple moving average of $9.53. The company has a quick ratio of 1.69, a current ratio of 1.73 and a debt-to-equity ratio of 0.66. Teladoc Health has a 52 week low of $6.76 and a 52 week high of $15.95. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of -1.89 and a beta of 1.04.

Teladoc Health (NYSE:TDOC) last released its earnings results on Wednesday, February 26th. The health services provider reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.07). Teladoc Health had a negative return on equity of 10.06% and a negative net margin of 37.91%. The firm had revenue of $640.49 million during the quarter, compared to analysts’ expectations of $639.44 million. On average, analysts expect that Teladoc Health will post -1.16 EPS for the current year.

Insiders Place Their Bets

In related news, insider Carlos Nueno sold 2,389 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $11.93, for a total value of $28,500.77. Following the sale, the insider now directly owns 2,890 shares of the company’s stock, valued at $34,477.70. This represents a 45.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.95% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Teladoc Health by 15.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,701,161 shares of the health services provider’s stock worth $15,617,000 after acquiring an additional 228,004 shares during the last quarter. Jennison Associates LLC purchased a new stake in Teladoc Health in the third quarter worth $1,544,000. Massachusetts Financial Services Co. MA lifted its position in shares of Teladoc Health by 477.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 370,093 shares of the health services provider’s stock worth $3,397,000 after purchasing an additional 305,961 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Teladoc Health by 1.5% during the third quarter. Geode Capital Management LLC now owns 3,925,167 shares of the health services provider’s stock worth $36,042,000 after purchasing an additional 56,864 shares during the last quarter. Finally, Maple Rock Capital Partners Inc. purchased a new stake in shares of Teladoc Health during the third quarter valued at $11,291,000. Institutional investors own 76.82% 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.