Teladoc Health (NYSE:TDOC) Shares Gap Up – Time to Buy?

Teladoc Health, Inc. (NYSE:TDOC)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $9.09, but opened at $9.40. Teladoc Health shares last traded at $9.69, with a volume of 577,934 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on TDOC shares. Piper Sandler reaffirmed an “overweight” rating and issued a $13.00 price target (up from $11.00) on shares of Teladoc Health in a report on Wednesday, December 4th. The Goldman Sachs Group assumed coverage on shares of Teladoc Health in a research note on Friday, November 15th. They issued a “buy” rating and a $14.00 target price for the company. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Teladoc Health from $10.00 to $12.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Jefferies Financial Group increased their price target on Teladoc Health from $8.00 to $10.00 and gave the stock a “hold” rating in a research report on Tuesday, September 17th. Finally, Barclays upped their target price on Teladoc Health from $10.00 to $12.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Fourteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Teladoc Health has an average rating of “Hold” and an average target price of $12.24.

Teladoc Health Stock Performance

The company has a market cap of $1.66 billion, a PE ratio of -1.67 and a beta of 0.97. The stock has a 50 day simple moving average of $9.85 and a two-hundred day simple moving average of $9.05. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.73 and a quick ratio of 1.69.

Teladoc Health (NYSE:TDOC) last announced its earnings results on Wednesday, October 30th. The health services provider reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.10. Teladoc Health had a negative net margin of 37.91% and a negative return on equity of 10.06%. The company had revenue of $640.51 million during the quarter, compared to analysts’ expectations of $630.50 million. Equities analysts predict that Teladoc Health, Inc. will post -1.16 EPS for the current year.

Insider Buying and Selling

In other news, insider Carlos Nueno sold 2,389 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $11.93, for a total transaction of $28,500.77. Following the completion of the transaction, the insider now 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 legal filing with the SEC, which is available through this link. 0.95% of the stock is owned by company insiders.

Hedge Funds Weigh In On Teladoc Health

Institutional investors and hedge funds have recently bought and sold shares of the stock. Signaturefd LLC increased its holdings in shares of Teladoc Health by 148.7% during the 2nd quarter. Signaturefd LLC now owns 2,868 shares of the health services provider’s stock worth $28,000 after buying an additional 1,715 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Teladoc Health during the 2nd quarter worth about $29,000. Blue Trust Inc. raised its holdings in Teladoc Health by 84.5% in the third quarter. Blue Trust Inc. now owns 4,048 shares of the health services provider’s stock valued at $40,000 after buying an additional 1,854 shares during the period. Doheny Asset Management CA purchased a new stake in Teladoc Health during the second quarter worth approximately $46,000. Finally, Benjamin F. Edwards & Company Inc. raised its stake in shares of Teladoc Health by 209.8% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 5,015 shares of the health services provider’s stock valued at $49,000 after acquiring an additional 3,396 shares during the period. 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.