Traders Buy High Volume of Teladoc Health Call Options (NYSE:TDOC)

Teladoc Health, Inc. (NYSE:TDOC) saw unusually large options trading activity on Monday. Investors acquired 33,776 call options on the stock. This represents an increase of approximately 105% compared to the average volume of 16,460 call options.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TDOC. Jefferies Financial Group lowered their target price on shares of Teladoc Health from $10.00 to $8.00 and set a “hold” rating for the company in a research note on Monday, April 21st. Citigroup lowered their target price on shares of Teladoc Health from $11.00 to $8.75 and set a “neutral” rating for the company in a research note on Friday, April 25th. Evercore ISI lowered their target price on shares of Teladoc Health from $8.00 to $7.00 and set an “in-line” rating for the company in a research note on Thursday, May 1st. Wells Fargo & Company lowered their target price on shares of Teladoc Health from $10.00 to $8.00 and set an “equal weight” rating for the company in a research note on Thursday, May 8th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Teladoc Health in a research note on Thursday, May 1st. Twelve investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $9.60.

Teladoc Health Stock Performance

TDOC opened at $7.90 on Tuesday. Teladoc Health has a 52-week low of $6.35 and a 52-week high of $15.21. The company has a quick ratio of 1.64, a current ratio of 1.68 and a debt-to-equity ratio of 0.70. The company has a market cap of $1.39 billion, a P/E ratio of -1.33 and a beta of 1.78. The firm’s 50-day moving average price is $7.10 and its 200-day moving average price is $8.81.

Insider Buying and Selling

In other Teladoc Health news, insider Adam C. Vandervoort sold 5,808 shares of the business’s stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $6.86, for a total transaction of $39,842.88. Following the transaction, the insider now owns 69,773 shares in the company, valued at $478,642.78. The trade was a 7.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Carlos Nueno sold 3,958 shares of the business’s stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $6.86, for a total transaction of $27,151.88. Following the transaction, the insider now owns 17,645 shares in the company, valued at $121,044.70. This trade represents a 18.32% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,656 shares of company stock worth $128,189. Insiders own 0.58% of the company’s stock.

Hedge Funds Weigh In On Teladoc Health

Several hedge funds have recently modified their holdings of TDOC. Golden State Wealth Management LLC increased its holdings in shares of Teladoc Health by 102.6% during the first quarter. Golden State Wealth Management LLC now owns 3,337 shares of the health services provider’s stock valued at $27,000 after acquiring an additional 1,690 shares in the last quarter. National Bank of Canada FI increased its holdings in shares of Teladoc Health by 79.4% during the first quarter. National Bank of Canada FI now owns 3,571 shares of the health services provider’s stock valued at $28,000 after acquiring an additional 1,581 shares in the last quarter. Whipplewood Advisors LLC acquired a new position in shares of Teladoc Health during the fourth quarter valued at about $29,000. Lindbrook Capital LLC increased its holdings in shares of Teladoc Health by 78.9% during the fourth quarter. Lindbrook Capital LLC now owns 3,654 shares of the health services provider’s stock valued at $33,000 after acquiring an additional 1,612 shares in the last quarter. Finally, SVB Wealth LLC acquired a new position in shares of Teladoc Health during the first quarter valued at about $37,000. Institutional investors and hedge funds 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.