Royal Bank of Canada Lowers Teladoc Health (NYSE:TDOC) Price Target to $18.00

Teladoc Health (NYSE:TDOC) had its price target decreased by Royal Bank of Canada from $25.00 to $18.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the health services provider’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 38.36% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on TDOC. Barclays lowered their target price on shares of Teladoc Health from $25.00 to $20.00 and set an “overweight” rating on the stock in a report on Friday. Cantor Fitzgerald started coverage on shares of Teladoc Health in a report on Thursday, February 29th. They set an “overweight” rating and a $22.00 target price on the stock. Piper Sandler lowered their target price on shares of Teladoc Health from $30.00 to $25.00 and set an “overweight” rating on the stock in a report on Wednesday, February 21st. Citigroup lowered their target price on shares of Teladoc Health from $21.00 to $19.00 and set a “neutral” rating on the stock in a report on Wednesday, February 21st. Finally, SVB Leerink started coverage on shares of Teladoc Health in a report on Monday, February 26th. They set a “market perform” rating and a $17.00 target price on the stock. Eleven analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Teladoc Health has an average rating of “Hold” and a consensus target price of $19.67.

Teladoc Health Price Performance

Teladoc Health stock opened at $13.01 on Friday. Teladoc Health has a 12 month low of $12.65 and a 12 month high of $30.41. The company has a current ratio of 3.54, a quick ratio of 3.47 and a debt-to-equity ratio of 0.66. The business’s 50 day simple moving average is $14.85 and its 200 day simple moving average is $17.72. The company has a market cap of $2.20 billion, a price-to-earnings ratio of -9.23 and a beta of 0.94.

Teladoc Health (NYSE:TDOC) last posted its quarterly earnings data 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). Teladoc Health had a negative net margin of 8.90% and a negative return on equity of 10.11%. The firm had revenue of $646.13 million during the quarter, compared to analysts’ expectations of $637.31 million. During the same quarter in the previous year, the company posted ($0.37) EPS. Teladoc Health’s revenue for the quarter was up 2.7% on a year-over-year basis. Sell-side analysts forecast that Teladoc Health will post -1.07 EPS for the current year.

Insider Activity at Teladoc Health

In related news, insider Laizer Kornwasser sold 7,882 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $19.18, for a total value of $151,176.76. Following the transaction, the insider now owns 57,223 shares of the company’s stock, valued at $1,097,537.14. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Teladoc Health news, COO Michael Willem Waters sold 4,523 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $19.18, for a total transaction of $86,751.14. Following the completion of the sale, the chief operating officer now directly owns 38,570 shares in the company, valued at $739,772.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Laizer Kornwasser sold 7,882 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $19.18, for a total transaction of $151,176.76. Following the sale, the insider now owns 57,223 shares of the company’s stock, valued at $1,097,537.14. The disclosure for this sale can be found here. Insiders have sold a total of 135,441 shares of company stock valued at $2,038,251 over the last 90 days. 1.63% of the stock is owned by insiders.

Institutional Trading of Teladoc Health

Several institutional investors have recently added to or reduced their stakes in the business. ARK Investment Management LLC boosted its position in Teladoc Health by 4.5% during the fourth quarter. ARK Investment Management LLC now owns 21,224,565 shares of the health services provider’s stock valued at $457,389,000 after buying an additional 912,692 shares during the period. Vanguard Group Inc. boosted its position in Teladoc Health by 11.8% during the fourth quarter. Vanguard Group Inc. now owns 17,515,127 shares of the health services provider’s stock valued at $377,451,000 after buying an additional 1,855,480 shares during the period. Dimensional Fund Advisors LP boosted its position in Teladoc Health by 25.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,834,422 shares of the health services provider’s stock valued at $82,636,000 after buying an additional 767,999 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Teladoc Health by 6.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,654,116 shares of the health services provider’s stock valued at $35,646,000 after buying an additional 104,531 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in Teladoc Health by 9.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 658,435 shares of the health services provider’s stock valued at $12,240,000 after buying an additional 57,989 shares during the period. 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.