Teladoc Health (NYSE:TDOC) Trading 7% Higher – Here’s Why

Teladoc Health, Inc. (NYSE:TDOC) shares rose 7% during trading on Wednesday . The company traded as high as $10.66 and last traded at $11.13. Approximately 123,921 shares were traded during mid-day trading, a decline of 97% from the average daily volume of 3,805,296 shares. The stock had previously closed at $10.40.

Analyst Upgrades and Downgrades

TDOC has been the subject of several research reports. Royal Bank of Canada increased their price target 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. Bank of America increased their target price on shares of Teladoc Health from $10.50 to $11.50 and gave the stock a “neutral” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft boosted their price target on Teladoc Health from $10.00 to $12.00 and gave the stock a “hold” rating in a report on Friday, November 1st. The Goldman Sachs Group assumed coverage on Teladoc Health in a report on Friday, November 15th. They set a “buy” rating and a $14.00 price target for the company. Finally, Piper Sandler reiterated an “overweight” rating and issued a $13.00 price target (up previously from $11.00) on shares of Teladoc Health in a research report on Wednesday, December 4th. 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, the stock presently has a consensus rating of “Hold” and an average target price of $11.97.

Teladoc Health Stock Up 6.9 %

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’s 50-day simple moving average is $10.03 and its 200 day simple moving average is $9.11. The company has a market capitalization of $2.20 billion, a PE ratio of -2.23 and a beta of 1.04.

Insider Buying and Selling

In other news, insider Carlos Nueno sold 2,389 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 2,890 shares in the company, valued at $34,477.70. This represents a 45.25 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.95% of the company’s stock.

Institutional Trading of Teladoc Health

Hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. raised its stake in Teladoc Health by 22.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,978 shares of the health services provider’s stock valued at $73,000 after buying an additional 1,439 shares in the last quarter. Edgestream Partners L.P. increased its stake in shares of Teladoc Health by 0.8% during the fourth quarter. Edgestream Partners L.P. now owns 201,060 shares of the health services provider’s stock valued at $1,828,000 after acquiring an additional 1,612 shares during the period. Prescott Group Capital Management L.L.C. bought a new stake in Teladoc Health in the fourth quarter worth about $818,000. Vestmark Advisory Solutions Inc. acquired a new stake in shares of Teladoc Health during the 4th quarter valued at $575,000. Finally, Lindbrook Capital LLC boosted its holdings in shares of Teladoc Health by 78.9% in the fourth quarter. Lindbrook Capital LLC now owns 3,654 shares of the health services provider’s stock worth $33,000 after buying an additional 1,612 shares during the period. Hedge funds and other institutional investors own 76.82% of the company’s stock.

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.