Bank of America Forecasts Strong Price Appreciation for Teladoc Health (NYSE:TDOC) Stock

Teladoc Health (NYSE:TDOC) had its price target raised by equities research analysts at Bank of America from $11.50 to $13.50 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the health services provider’s stock. Bank of America‘s price target suggests a potential downside of 0.04% from the stock’s previous close.

Several other brokerages have also recently commented on TDOC. Barclays lifted their price target on shares of Teladoc Health from $10.00 to $12.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Oppenheimer dropped their price target on Teladoc Health from $14.00 to $12.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. TD Cowen cut their price objective on shares of Teladoc Health from $9.00 to $8.00 and set a “hold” rating on the stock in a research report on Thursday, October 31st. Piper Sandler restated an “overweight” rating and issued a $13.00 target price (up previously from $11.00) on shares of Teladoc Health in a research note on Wednesday, December 4th. Finally, Royal Bank of Canada increased their price objective on shares of Teladoc Health from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Friday, January 24th. Fourteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Teladoc Health presently has a consensus rating of “Hold” and an average price target of $12.08.

Teladoc Health Trading Up 7.6 %

Shares of TDOC stock opened at $13.51 on Wednesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.69 and a current ratio of 1.73. The firm has a fifty day moving average of $10.22 and a 200-day moving average of $9.25. The stock has a market cap of $2.33 billion, a price-to-earnings ratio of -2.34 and a beta of 1.05. Teladoc Health has a 52-week low of $6.76 and a 52-week high of $21.74.

Insiders Place Their Bets

In other news, insider Carlos Nueno sold 2,389 shares of Teladoc Health stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $11.93, for a total value of $28,500.77. Following the completion of the transaction, the insider now directly owns 2,890 shares in the company, valued at approximately $34,477.70. The trade was a 45.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.95% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Versant Capital Management Inc increased its stake in Teladoc Health by 313.8% in the fourth quarter. Versant Capital Management Inc now owns 3,219 shares of the health services provider’s stock valued at $29,000 after acquiring an additional 2,441 shares during the last quarter. Whipplewood Advisors LLC purchased a new position in shares of Teladoc Health in the 4th quarter worth about $29,000. Lindbrook Capital LLC increased its position in shares of Teladoc Health by 78.9% during the 4th quarter. Lindbrook Capital LLC now owns 3,654 shares of the health services provider’s stock valued at $33,000 after purchasing an additional 1,612 shares during the last quarter. Blue Trust Inc. increased its position in shares of Teladoc Health by 84.5% during the 3rd quarter. Blue Trust Inc. now owns 4,048 shares of the health services provider’s stock valued at $40,000 after purchasing an additional 1,854 shares during the last quarter. Finally, Sterling Capital Management LLC raised its holdings in shares of Teladoc Health by 776.7% during the 4th quarter. Sterling Capital Management LLC now owns 4,629 shares of the health services provider’s stock valued at $42,000 after buying an additional 4,101 shares in the last quarter. 76.82% of the stock is owned by institutional investors.

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.