Teladoc Health (NYSE:TDOC) Issues Q2 2024 Earnings Guidance

Teladoc Health (NYSE:TDOC) updated its second quarter 2024 earnings guidance on Thursday. The company provided earnings per share guidance of -0.450–0.350 for the period, compared to the consensus earnings per share estimate of -0.300. The company issued revenue guidance of $635.0 million-$660.0 million, compared to the consensus revenue estimate of $662.6 million. Teladoc Health also updated its FY24 guidance to ($1.10)-($0.80) EPS.

Wall Street Analyst Weigh In

TDOC has been the topic of a number of research analyst reports. Oppenheimer lowered their price target on Teladoc Health from $26.00 to $21.00 and set an outperform rating on the stock in a research note on Friday. Royal Bank of Canada lowered their price objective on Teladoc Health from $25.00 to $18.00 and set an outperform rating on the stock in a research note on Friday. Needham & Company LLC reiterated a hold rating on shares of Teladoc Health in a report on Friday. Canaccord Genuity Group dropped their price objective on shares of Teladoc Health from $28.00 to $25.00 and set a buy rating for the company in a report on Friday. Finally, Leerink Partnrs reaffirmed a market perform rating on shares of Teladoc Health in a research note on Monday, February 26th. Eleven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of $19.67.

Teladoc Health Stock Down 2.4 %

NYSE TDOC traded down $0.32 on Friday, hitting $13.01. 7,696,741 shares of the stock were exchanged, compared to its average volume of 4,813,149. Teladoc Health has a fifty-two week low of $12.65 and a fifty-two week high of $30.41. The company has a 50-day moving average price of $15.01 and a 200-day moving average price of $17.77. The company has a current ratio of 3.54, a quick ratio of 3.47 and a debt-to-equity ratio of 0.66.

Teladoc Health (NYSE:TDOC) last announced its quarterly earnings results on Thursday, April 25th. The health services provider reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.02). Teladoc Health had a negative return on equity of 10.11% and a negative net margin of 8.90%. The business had revenue of $646.13 million for the quarter, compared to analysts’ expectations of $637.31 million. During the same period last year, the firm earned ($0.37) earnings per share. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. As a group, equities analysts predict that Teladoc Health will post -1.07 EPS for the current year.

Insider Buying and Selling at Teladoc Health

In related news, insider Laizer Kornwasser sold 7,882 shares of the company’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $19.18, for a total value of $151,176.76. Following the completion of the sale, the insider now directly owns 57,223 shares of the company’s stock, valued at approximately $1,097,537.14. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, COO Michael Willem Waters sold 4,523 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $19.18, for a total value of $86,751.14. Following the completion of the sale, the chief operating officer now directly owns 38,570 shares of the company’s stock, valued at $739,772.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Laizer Kornwasser sold 7,882 shares of the business’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $19.18, for a total value of $151,176.76. Following the completion of the transaction, the insider now owns 57,223 shares in the company, valued at approximately $1,097,537.14. The disclosure for this sale can be found here. Insiders sold 135,441 shares of company stock worth $2,038,251 over the last 90 days. Corporate insiders own 1.63% of the company’s stock.

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.