JPMorgan Chase & Co. Cuts Teladoc Health (NYSE:TDOC) Price Target to $19.00

Teladoc Health (NYSE:TDOC) had its target price lowered by JPMorgan Chase & Co. from $33.00 to $19.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “neutral” rating on the health services provider’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 11.70% from the stock’s current price.

A number of other equities research analysts have also weighed in on TDOC. Royal Bank of Canada cut their target price on shares of Teladoc Health from $35.00 to $30.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 25th. Oppenheimer reduced their target price on Teladoc Health from $35.00 to $26.00 and set an “outperform” rating on the stock in a report on Wednesday, October 25th. Evercore ISI lowered their target price on Teladoc Health from $25.00 to $19.00 in a research note on Wednesday, October 11th. Truist Financial reiterated a “hold” rating and issued a $28.00 price objective on shares of Teladoc Health in a report on Monday, September 25th. Finally, StockNews.com raised Teladoc Health from a “sell” rating to a “hold” rating in a research report on Wednesday, October 25th. Nine investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Teladoc Health currently has an average rating of “Hold” and an average target price of $27.14.

Teladoc Health Trading Up 0.5 %

Shares of TDOC stock traded up $0.09 during mid-day trading on Friday, reaching $17.01. The stock had a trading volume of 720,275 shares, compared to its average volume of 4,585,369. The firm has a market capitalization of $2.82 billion, a PE ratio of -0.69 and a beta of 1.11. The stock’s 50-day moving average price is $18.49 and its two-hundred day moving average price is $22.37. The company has a current ratio of 3.44, a quick ratio of 3.36 and a debt-to-equity ratio of 0.67. Teladoc Health has a 52-week low of $15.02 and a 52-week high of $34.36.

Teladoc Health (NYSE:TDOC) last issued its quarterly earnings data on Tuesday, October 24th. The health services provider reported ($0.35) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.02. The firm had revenue of $660.24 million for the quarter, compared to analyst estimates of $662.71 million. Teladoc Health had a negative return on equity of 9.60% and a negative net margin of 155.12%. Equities analysts expect that Teladoc Health will post -1.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Teladoc Health news, CFO Mala Murthy sold 3,221 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $22.89, for a total transaction of $73,728.69. Following the sale, the chief financial officer now owns 46,907 shares in the company, valued at approximately $1,073,701.23. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Mala Murthy sold 3,221 shares of Teladoc Health stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $22.89, for a total transaction of $73,728.69. Following the sale, the chief financial officer now owns 46,907 shares of the company’s stock, valued at approximately $1,073,701.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Michael Willem Waters sold 5,482 shares of Teladoc Health stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $17.05, for a total transaction of $93,468.10. Following the completion of the sale, the chief operating officer now owns 31,774 shares in the company, valued at $541,746.70. The disclosure for this sale can be found here. Insiders sold a total of 19,097 shares of company stock worth $366,568 over the last quarter. 1.63% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Teladoc Health

Several institutional investors have recently bought and sold shares of the business. Bank Julius Baer & Co. Ltd Zurich boosted its stake in Teladoc Health by 308,618.4% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,145,840 shares of the health services provider’s stock worth $79,653,000 after buying an additional 3,144,821 shares during the period. Dimensional Fund Advisors LP raised its position in Teladoc Health by 116.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,593,819 shares of the health services provider’s stock worth $93,070,000 after purchasing an additional 1,935,496 shares during the period. Federated Hermes Inc. grew its stake in shares of Teladoc Health by 245.8% during the first quarter. Federated Hermes Inc. now owns 2,524,794 shares of the health services provider’s stock valued at $65,392,000 after buying an additional 1,794,704 shares during the last quarter. Norges Bank purchased a new stake in shares of Teladoc Health in the fourth quarter worth approximately $34,632,000. Finally, Two Sigma Investments LP lifted its stake in shares of Teladoc Health by 68.6% during the 1st quarter. Two Sigma Investments LP now owns 3,191,291 shares of the health services provider’s stock worth $82,654,000 after acquiring an additional 1,298,934 shares during the last quarter. Institutional investors own 77.07% of the company’s stock.

About Teladoc Health

Teladoc Health, Inc provides virtual healthcare services in the United States and internationally. The company operates through two segments, 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.