Teladoc Health (NYSE:TDOC) Sees Strong Trading Volume on Analyst Upgrade

Shares of Teladoc Health, Inc. (NYSE:TDOC) saw unusually-high trading volume on Wednesday after The Goldman Sachs Group raised their price target on the stock from $14.00 to $16.00. The Goldman Sachs Group currently has a buy rating on the stock. Approximately 14,679,102 shares traded hands during trading, an increase of 115% from the previous session’s volume of 6,820,760 shares.The stock last traded at $13.17 and had previously closed at $13.11.

Several other research firms have also recently weighed in on TDOC. Oppenheimer decreased their price target on Teladoc Health from $14.00 to $12.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Piper Sandler reissued an “overweight” rating and issued a $13.00 target price (up previously from $11.00) on shares of Teladoc Health in a research report on Wednesday, December 4th. Barclays raised their price target on shares of Teladoc Health from $10.00 to $12.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. TD Cowen reduced their price target 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. Finally, Bank of America increased their price objective on shares of Teladoc Health from $11.50 to $13.50 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. Fourteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $12.18.

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TDOC. Versant Capital Management Inc raised its position in shares of Teladoc Health by 313.8% during the fourth 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 last quarter. Whipplewood Advisors LLC purchased a new position in Teladoc Health during the fourth quarter valued at $29,000. Lindbrook Capital LLC increased its holdings in Teladoc Health by 78.9% in the 4th 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 during the last quarter. Blue Trust Inc. increased its holdings in Teladoc Health by 84.5% in the 3rd quarter. Blue Trust Inc. now owns 4,048 shares of the health services provider’s stock valued at $40,000 after acquiring an additional 1,854 shares during the last quarter. Finally, Sterling Capital Management LLC lifted its stake in Teladoc Health by 776.7% in the 4th quarter. Sterling Capital Management LLC now owns 4,629 shares of the health services provider’s stock worth $42,000 after purchasing an additional 4,101 shares in the last quarter. 76.82% of the stock is owned by hedge funds and other institutional investors.

Teladoc Health Price Performance

The firm has a market cap of $2.31 billion, a P/E ratio of -2.32 and a beta of 1.05. The firm’s fifty day simple moving average is $10.41 and its 200 day simple moving average is $9.35. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.69 and a current ratio of 1.73.

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.