Teladoc Health (NYSE:TDOC) Reaches New 1-Year Low After Earnings Miss

Teladoc Health, Inc. (NYSE:TDOC) shares hit a new 52-week low during trading on Friday after the company announced weaker than expected quarterly earnings. The company traded as low as $12.65 and last traded at $13.36, with a volume of 2157832 shares traded. The stock had previously closed at $13.33.

The health services provider reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.02). Teladoc Health had a negative net margin of 8.90% and a negative return on equity of 10.11%. The company had revenue of $646.13 million during the quarter, compared to analysts’ expectations of $637.31 million. During the same period in the previous year, the company posted ($0.37) EPS. Teladoc Health’s quarterly revenue was up 2.7% compared to the same quarter last year.

Analysts Set New Price Targets

A number of research firms recently issued reports on TDOC. Canaccord Genuity Group reduced their target price on Teladoc Health from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Friday. Needham & Company LLC reaffirmed a “hold” rating on shares of Teladoc Health in a research note on Friday. Leerink Partnrs reaffirmed a “market perform” rating on shares of Teladoc Health in a research note on Monday, February 26th. Truist Financial reduced their price target on Teladoc Health from $23.00 to $17.00 and set a “hold” rating on the stock in a research note on Wednesday, March 6th. Finally, Piper Sandler reduced their price target on Teladoc Health from $30.00 to $25.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 21st. Eleven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $19.67.

Insider Activity at Teladoc Health

In other news, EVP Andrew Turitz sold 6,190 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $14.52, for a total transaction of $89,878.80. Following the completion of the sale, the executive vice president now directly owns 39,429 shares in the company, valued at $572,509.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Laizer Kornwasser sold 7,882 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $19.18, for a total transaction of $151,176.76. Following the completion of the sale, the insider now directly owns 57,223 shares in the company, valued at $1,097,537.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Andrew Turitz sold 6,190 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $14.52, for a total value of $89,878.80. Following the sale, the executive vice president now owns 39,429 shares of the company’s stock, valued at $572,509.08. The disclosure for this sale can be found here. In the last three months, insiders sold 135,441 shares of company stock worth $2,038,251. Corporate insiders own 1.63% of the company’s stock.

Institutional Trading of Teladoc Health

Large investors have recently modified their holdings of the business. ARK Investment Management LLC lifted its position in shares of Teladoc Health by 4.5% during the fourth quarter. ARK Investment Management LLC now owns 21,224,565 shares of the health services provider’s stock worth $457,389,000 after purchasing an additional 912,692 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Teladoc Health by 11.8% during the fourth quarter. Vanguard Group Inc. now owns 17,515,127 shares of the health services provider’s stock worth $377,451,000 after purchasing an additional 1,855,480 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Teladoc Health by 25.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,834,422 shares of the health services provider’s stock worth $82,636,000 after purchasing an additional 767,999 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Teladoc Health by 6.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,654,116 shares of the health services provider’s stock worth $35,646,000 after purchasing an additional 104,531 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Teladoc Health by 9.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 658,435 shares of the health services provider’s stock worth $12,240,000 after purchasing an additional 57,989 shares during the last quarter. 76.82% of the stock is currently owned by institutional investors and hedge funds.

Teladoc Health Stock Down 2.4 %

The company has a debt-to-equity ratio of 0.66, a current ratio of 3.54 and a quick ratio of 3.47. The firm’s 50-day moving average price is $14.85 and its 200 day moving average price is $17.72. The firm has a market cap of $2.20 billion, a P/E ratio of -9.23 and a beta of 0.94.

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.