Teladoc Health Sees Unusually High Options Volume (NYSE:TDOC)

Teladoc Health, Inc. (NYSE:TDOC) was the target of some unusual options trading activity on Thursday. Traders purchased 61,931 call options on the company. This represents an increase of 377% compared to the average volume of 12,988 call options.

Insider Activity at Teladoc Health

In related news, COO Michael Willem Waters sold 4,218 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $7.16, for a total transaction of $30,200.88. Following the completion of the transaction, the chief operating officer now owns 78,309 shares in the company, valued at $560,692.44. This trade represents a 5.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas Mckinley purchased 4,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were acquired at an average cost of $7.69 per share, with a total value of $30,760.00. Following the completion of the acquisition, the director now directly owns 39,077 shares in the company, valued at approximately $300,502.13. This represents a 11.40 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have sold 20,051 shares of company stock worth $143,565. 0.95% of the stock is owned by insiders.

Hedge Funds Weigh In On Teladoc Health

Several hedge funds and other institutional investors have recently bought and sold shares of TDOC. TCW Group Inc. bought a new position in Teladoc Health during the third quarter worth $2,464,000. Geode Capital Management LLC boosted its holdings in Teladoc Health by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 3,925,167 shares of the health services provider’s stock worth $36,042,000 after acquiring an additional 56,864 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Teladoc Health during the third quarter worth about $152,000. Quantinno Capital Management LP grew its holdings in shares of Teladoc Health by 190.4% in the third quarter. Quantinno Capital Management LP now owns 186,143 shares of the health services provider’s stock valued at $1,709,000 after acquiring an additional 122,050 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its stake in Teladoc Health by 57.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 8,366,295 shares of the health services provider’s stock valued at $76,803,000 after purchasing an additional 3,063,172 shares during the period. Institutional investors and hedge funds own 76.82% of the company’s stock.

Teladoc Health Price Performance

TDOC stock traded up $1.36 during trading on Thursday, reaching $10.36. 5,857,042 shares of the company were exchanged, compared to its average volume of 5,513,731. The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of -1.66 and a beta of 0.90. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.73 and a quick ratio of 1.69. The company has a 50-day moving average of $9.00 and a two-hundred day moving average of $9.31. Teladoc Health has a twelve month low of $6.76 and a twelve month high of $22.54.

Teladoc Health (NYSE:TDOC) last issued its quarterly earnings data on Wednesday, October 30th. The health services provider reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.10. Teladoc Health had a negative return on equity of 10.06% and a negative net margin of 37.91%. The business had revenue of $640.51 million for the quarter, compared to analyst estimates of $630.50 million. As a group, equities analysts predict that Teladoc Health will post -1.17 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Royal Bank of Canada boosted their price target on shares of Teladoc Health from $9.00 to $10.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 9th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 price target on shares of Teladoc Health in a report on Tuesday, August 20th. DA Davidson dropped their price target on Teladoc Health from $12.00 to $8.00 and set a “neutral” rating on the stock in a research note on Thursday, August 1st. Piper Sandler reduced their price target on Teladoc Health from $25.00 to $10.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Teladoc Health from $16.00 to $9.00 and set a “neutral” rating on the stock in a research report on Monday, August 26th. Fourteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Teladoc Health presently has a consensus rating of “Hold” and an average target price of $12.08.

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.