Teladoc Health (NYSE:TDOC) Downgraded to Market Perform at Cowen

Cowen lowered shares of Teladoc Health (NYSE:TDOC – Get Rating) from an outperform rating to a market perform rating in a research note released on Tuesday, MarketBeat Ratings reports. They currently have $34.00 target price on the health services provider’s stock, down from their prior target price of $58.00.

Other analysts also recently issued research reports about the company. StockNews.com upgraded Teladoc Health to a sell rating in a report on Friday, July 29th. Piper Sandler cut their price objective on Teladoc Health from $42.00 to $40.00 and set an overweight rating on the stock in a report on Thursday, July 28th. Stifel Nicolaus cut their price objective on Teladoc Health from $36.00 to $30.00 in a report on Thursday, July 28th. Barclays cut their price objective on Teladoc Health from $42.00 to $40.00 and set a maintains rating on the stock in a report on Thursday, July 28th. Finally, Royal Bank of Canada cut their price objective on Teladoc Health from $215.00 to $120.00 and set an outperform rating on the stock in a report on Tuesday, April 12th. One research analyst has rated the stock with a sell rating, twenty-two have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Teladoc Health currently has a consensus rating of Hold and an average target price of $76.10.

Teladoc Health Price Performance

Shares of Teladoc Health stock opened at $36.92 on Tuesday. The company has a current ratio of 3.94, a quick ratio of 3.71 and a debt-to-equity ratio of 0.17. The company’s 50-day moving average price is $36.22 and its two-hundred day moving average price is $52.53. Teladoc Health has a 52 week low of $27.38 and a 52 week high of $156.82. The stock has a market cap of $5.95 billion, a PE ratio of -0.60 and a beta of 0.82.

Insider Activity

In other news, CFO Mala Murthy sold 4,053 shares of the stock in a transaction that occurred on Monday, June 27th. The stock was sold at an average price of $37.32, for a total value of $151,257.96. Following the completion of the sale, the chief financial officer now directly owns 27,295 shares of the company’s stock, valued at $1,018,649.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Mala Murthy sold 4,053 shares of the company’s stock in a transaction on Monday, June 27th. The stock was sold at an average price of $37.32, for a total value of $151,257.96. Following the completion of the transaction, the chief financial officer now directly owns 27,295 shares in the company, valued at $1,018,649.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Daniel Trencher sold 1,000 shares of the company’s stock in a transaction on Monday, July 18th. The shares were sold at an average price of $41.12, for a total value of $41,120.00. Following the completion of the transaction, the senior vice president now owns 27,408 shares of the company’s stock, valued at $1,127,016.96. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,053 shares of company stock valued at $221,498. 1.55% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TDOC. McCarthy Asset Management Inc. acquired a new position in Teladoc Health during the first quarter worth $25,000. DB Wealth Management Group LLC acquired a new position in Teladoc Health during the first quarter worth $25,000. City State Bank acquired a new position in Teladoc Health during the fourth quarter worth $27,000. Oliver Lagore Vanvalin Investment Group acquired a new position in Teladoc Health during the first quarter worth $27,000. Finally, CarsonAllaria Wealth Management Ltd. acquired a new position in Teladoc Health during the fourth quarter worth $30,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.

About Teladoc Health

(Get Rating)

Teladoc Health, Inc provides virtual healthcare services in the United States and internationally. The company offers a portfolio of services and solutions covering non-urgent, episodic, chronic, and complicated medical conditions, including diabetes, hypertension, chronic kidney disease, cancer, congestive heart failure, and mental health conditions.

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