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

Teladoc Health (NYSE:TDOC) had its target price hoisted by analysts at Bank of America from $11.50 to $13.50 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the health services provider’s stock. Bank of America‘s price target indicates a potential upside of 3.89% from the stock’s previous close.

A number of other brokerages also recently issued reports on TDOC. Barclays lifted their price target on Teladoc Health from $10.00 to $12.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. The Goldman Sachs Group assumed coverage on shares of Teladoc Health in a report on Friday, November 15th. They issued a “buy” rating and a $14.00 target price for the company. Piper Sandler reissued an “overweight” rating and set a $13.00 price target (up from $11.00) on shares of Teladoc Health in a research report on Wednesday, December 4th. Oppenheimer cut their price objective on shares of Teladoc Health from $14.00 to $12.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. Finally, TD Cowen decreased their target price on shares of Teladoc Health from $9.00 to $8.00 and set a “hold” rating for the company in a research report on Thursday, October 31st. Fourteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $12.08.

Teladoc Health Price Performance

Shares of TDOC opened at $12.99 on Wednesday. The stock has a market capitalization of $2.24 billion, a PE ratio of -2.25 and a beta of 1.05. The company has a 50 day moving average price of $10.13 and a 200-day moving average price of $9.20. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.69 and a current ratio of 1.73. Teladoc Health has a fifty-two week low of $6.76 and a fifty-two week high of $21.74.

Insider Activity at Teladoc Health

In related news, insider Carlos Nueno sold 2,389 shares of Teladoc Health stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $11.93, for a total transaction 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. This trade represents a 45.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.95% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Teladoc Health

Several institutional investors have recently made changes to their positions in TDOC. Arizona State Retirement System grew its position in Teladoc Health by 1.8% during the fourth quarter. Arizona State Retirement System now owns 49,691 shares of the health services provider’s stock valued at $452,000 after buying an additional 859 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Teladoc Health by 22.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,978 shares of the health services provider’s stock worth $73,000 after acquiring an additional 1,439 shares in the last quarter. Lindbrook Capital LLC grew 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 acquiring an additional 1,612 shares during the period. Edgestream Partners L.P. increased its stake in shares of Teladoc Health by 0.8% in the 4th quarter. Edgestream Partners L.P. now owns 201,060 shares of the health services provider’s stock valued at $1,828,000 after purchasing an additional 1,612 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in Teladoc Health by 84.5% in the 3rd quarter. Blue Trust Inc. now owns 4,048 shares of the health services provider’s stock worth $40,000 after purchasing an additional 1,854 shares during the period. 76.82% of the stock is owned by hedge funds and other institutional investors.

Teladoc Health Company Profile

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.