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.

Teladoc Health Trading Down 2.4 %

Shares of NYSE TDOC traded down $0.32 during mid-day trading on Friday, reaching $13.01. 7,696,741 shares of the company’s stock were exchanged, compared to its average volume of 4,813,149. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.47 and a current ratio of 3.54. The company’s 50-day moving average is $15.01 and its 200-day moving average is $17.77. Teladoc Health has a 52-week low of $12.65 and a 52-week high of $30.41.

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Citigroup decreased their target price on Teladoc Health from $21.00 to $19.00 and set a neutral rating for the company in a report on Wednesday, February 21st. Barclays lowered their target price on shares of Teladoc Health from $25.00 to $20.00 and set an overweight rating for the company in a research note on Friday. DA Davidson lowered their price objective on Teladoc Health from $22.00 to $18.00 and set a neutral rating for the company in a research report on Wednesday, February 21st. Leerink Partnrs reiterated a market perform rating on shares of Teladoc Health in a report on Monday, February 26th. Finally, SVB Leerink assumed coverage on Teladoc Health in a research note on Monday, February 26th. They set a market perform rating and a $17.00 target price for the company. Eleven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $19.67.

Insiders Place Their Bets

In related news, EVP Andrew Turitz sold 6,190 shares of Teladoc Health stock in a transaction on Monday, March 4th. The stock was sold at an average price of $14.52, for a total transaction of $89,878.80. Following the completion of the transaction, the executive vice president now directly owns 39,429 shares of the company’s stock, valued at $572,509.08. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Teladoc Health news, EVP Andrew Turitz sold 6,190 shares of Teladoc Health stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $14.52, for a total transaction of $89,878.80. Following the completion of the transaction, the executive vice president now owns 39,429 shares in the company, valued at $572,509.08. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Richard J. Napolitano sold 3,765 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $14.52, for a total transaction of $54,667.80. Following the completion of the sale, the chief accounting officer now owns 18,077 shares in the company, valued at $262,478.04. The disclosure for this sale can be found here. Over the last three months, insiders have sold 135,441 shares of company stock worth $2,038,251. 1.63% of the stock is owned by company insiders.

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.