Teladoc Health, Inc. (NYSE:TDOC – Get Free Report)’s share price hit a new 52-week low during mid-day trading on Thursday after TD Cowen lowered their price target on the stock from $15.00 to $9.00. TD Cowen currently has a hold rating on the stock. Teladoc Health traded as low as $8.13 and last traded at $8.63, with a volume of 5766400 shares trading hands. The stock had previously closed at $9.43.
A number of other analysts have also recently commented on the stock. Evercore ISI dropped their price target on shares of Teladoc Health from $14.00 to $10.00 and set an “in-line” rating on the stock in a research note on Tuesday, July 9th. Stifel Nicolaus cut their target price on Teladoc Health from $16.00 to $9.00 and set a “hold” rating for the company in a research note on Thursday. Needham & Company LLC reissued a “hold” rating on shares of Teladoc Health in a report on Friday, April 26th. Wells Fargo & Company reduced their price objective on shares of Teladoc Health from $17.00 to $15.00 and set an “equal weight” rating for the company in a research note on Monday, April 29th. Finally, Canaccord Genuity Group cut their price target on shares of Teladoc Health from $25.00 to $17.00 and set a “buy” rating for the company in a report on Thursday. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $15.16.
Insider Activity at Teladoc Health
In other news, Director Karen L. Daniel sold 9,834 shares of the business’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $11.90, for a total value of $117,024.60. Following the completion of the transaction, the director now owns 36,995 shares in the company, valued at $440,240.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 15,388 shares of company stock valued at $178,225 over the last 90 days. Corporate insiders own 0.95% of the company’s stock.
Institutional Trading of Teladoc Health
A number of hedge funds have recently bought and sold shares of the company. AM Squared Ltd purchased a new stake in Teladoc Health during the second quarter valued at approximately $100,000. nVerses Capital LLC raised its position in shares of Teladoc Health by 1,600.0% during the second quarter. nVerses Capital LLC now owns 11,900 shares of the health services provider’s stock valued at $116,000 after buying an additional 11,200 shares during the last quarter. Mizuho Markets Americas LLC purchased a new position in shares of Teladoc Health in the second quarter worth $3,937,000. Catalytic Wealth RIA LLC purchased a new position in Teladoc Health during the second quarter valued at $229,000. Finally, International Assets Investment Management LLC purchased a new stake in Teladoc Health in the 2nd quarter worth $29,000. Hedge funds and other institutional investors own 76.82% of the company’s stock.
Teladoc Health Price Performance
The company has a debt-to-equity ratio of 0.67, a quick ratio of 3.74 and a current ratio of 3.82. The firm’s fifty day simple moving average is $10.06 and its 200 day simple moving average is $13.85. The firm has a market cap of $1.46 billion, a P/E ratio of -6.10 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.