Wells Fargo & Company Lowers Teladoc Health (NYSE:TDOC) Price Target to $15.00

Teladoc Health (NYSE:TDOC) had its price target cut by equities researchers at Wells Fargo & Company from $17.00 to $15.00 in a report released on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the health services provider’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 17.69% from the stock’s current price.

A number of other research firms have also weighed in on TDOC. Leerink Partnrs reaffirmed a “market perform” rating on shares of Teladoc Health in a report on Monday, February 26th. Cantor Fitzgerald assumed coverage on Teladoc Health in a research note on Thursday, February 29th. They set an “overweight” rating and a $22.00 target price for the company. Canaccord Genuity Group dropped their target price on Teladoc Health from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Friday, April 26th. Oppenheimer reduced their price target on Teladoc Health from $26.00 to $21.00 and set an “outperform” rating for the company in a report on Friday, April 26th. Finally, Needham & Company LLC restated a “hold” rating on shares of Teladoc Health in a report on Friday, April 26th. Twelve analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $18.73.

Teladoc Health Stock Down 4.8 %

Shares of NYSE TDOC opened at $12.75 on Monday. The company has a current ratio of 3.54, a quick ratio of 3.47 and a debt-to-equity ratio of 0.66. Teladoc Health has a 12-month low of $12.65 and a 12-month high of $30.41. The company has a market cap of $2.16 billion, a P/E ratio of -9.04 and a beta of 0.94. The stock has a fifty day moving average price of $14.69 and a 200 day moving average price of $17.67.

Teladoc Health (NYSE:TDOC) last released its quarterly earnings results on Thursday, April 25th. The health services provider reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.47) by ($0.02). Teladoc Health had a negative return on equity of 10.11% and a negative net margin of 8.90%. The company had revenue of $646.13 million for the quarter, compared to analyst estimates of $637.31 million. During the same period last year, the firm posted ($0.37) earnings per share. The business’s revenue was up 2.7% on a year-over-year basis. Research analysts anticipate that Teladoc Health will post -1.06 EPS for the current fiscal year.

Insider Activity at Teladoc Health

In other Teladoc Health news, CMO Stephany Verstraete sold 7,945 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $14.52, for a total transaction of $115,361.40. Following the completion of the sale, the chief marketing officer now owns 56,486 shares in the company, valued at $820,176.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Andrew Turitz sold 6,190 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive vice president now owns 39,429 shares in the company, valued at approximately $572,509.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Stephany Verstraete sold 7,945 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $14.52, for a total value of $115,361.40. Following the completion of the sale, the chief marketing officer now directly owns 56,486 shares in the company, valued at $820,176.72. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 135,441 shares of company stock valued at $2,038,251. Corporate insiders own 0.95% of the company’s stock.

Hedge Funds Weigh In On Teladoc Health

Several hedge funds and other institutional investors have recently modified their holdings of TDOC. Parallel Advisors LLC lifted its position in Teladoc Health by 14.6% in the 4th quarter. Parallel Advisors LLC now owns 4,038 shares of the health services provider’s stock valued at $87,000 after purchasing an additional 515 shares during the last quarter. M&T Bank Corp raised its holdings in shares of Teladoc Health by 5.5% during the fourth quarter. M&T Bank Corp now owns 11,152 shares of the health services provider’s stock valued at $241,000 after buying an additional 584 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of Teladoc Health by 20.3% during the fourth quarter. Van ECK Associates Corp now owns 3,589 shares of the health services provider’s stock worth $77,000 after buying an additional 606 shares during the period. Arizona State Retirement System boosted its position in shares of Teladoc Health by 1.4% during the third quarter. Arizona State Retirement System now owns 46,602 shares of the health services provider’s stock worth $866,000 after buying an additional 650 shares during the period. Finally, Victory Capital Management Inc. grew its holdings in Teladoc Health by 4.3% in the 3rd quarter. Victory Capital Management Inc. now owns 17,946 shares of the health services provider’s stock worth $334,000 after buying an additional 748 shares in the last quarter. 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.