Teladoc Health (NYSE:TDOC) Price Target Cut to $12.00 by Analysts at Canaccord Genuity Group

Teladoc Health (NYSE:TDOC) had its target price reduced by Canaccord Genuity Group from $14.00 to $12.00 in a report released on Thursday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the health services provider’s stock.

Several other analysts have also recently weighed in on the company. Citigroup cut their price objective on Teladoc Health from $11.00 to $8.75 and set a “neutral” rating on the stock in a research report on Friday, April 25th. Needham & Company LLC restated a “hold” rating on shares of Teladoc Health in a research report on Thursday. Stifel Nicolaus reduced their price target on Teladoc Health from $9.00 to $8.00 and set a “hold” rating on the stock in a research note on Thursday. Evercore ISI lowered their price objective on Teladoc Health from $8.00 to $7.00 and set an “in-line” rating for the company in a research report on Thursday. Finally, Royal Bank of Canada upped 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. Eleven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $9.81.

Teladoc Health Price Performance

Shares of Teladoc Health stock opened at $7.07 on Thursday. The business has a 50 day moving average of $8.02 and a 200 day moving average of $9.49. Teladoc Health has a 52 week low of $6.35 and a 52 week high of $15.21. The company has a market cap of $1.24 billion, a PE ratio of -1.23 and a beta of 1.73. 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 (NYSE:TDOC) last issued its quarterly earnings data on Wednesday, February 26th. The health services provider reported ($0.28) 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 company had revenue of $640.49 million during the quarter, compared to the consensus estimate of $639.44 million. As a group, equities research analysts forecast that Teladoc Health will post -1.16 earnings per share for the current year.

Insider Activity at Teladoc Health

In other news, insider Adam C. Vandervoort sold 11,011 shares of the firm’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $8.42, for a total transaction of $92,712.62. Following the sale, the insider now owns 64,308 shares of the company’s stock, valued at $541,473.36. This trade represents a 14.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.58% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TDOC. Versant Capital Management Inc lifted its holdings in shares of Teladoc Health by 313.8% during the 4th quarter. Versant Capital Management Inc now owns 3,219 shares of the health services provider’s stock valued at $29,000 after buying an additional 2,441 shares during the period. Smith Anglin Financial LLC purchased a new position in Teladoc Health in the fourth quarter worth about $108,000. Arkadios Wealth Advisors bought a new stake in shares of Teladoc Health during the 4th quarter valued at about $115,000. Nisa Investment Advisors LLC increased its position in shares of Teladoc Health by 20,936.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 426,206 shares of the health services provider’s stock valued at $3,874,000 after purchasing an additional 424,180 shares during the last quarter. Finally, Westside Investment Management Inc. lifted its stake in shares of Teladoc Health by 43.8% in the 4th quarter. Westside Investment Management Inc. now owns 9,200 shares of the health services provider’s stock worth $84,000 after purchasing an additional 2,800 shares during the period. Institutional investors own 76.82% of the company’s stock.

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.