Teladoc Health (NYSE:TDOC) Issues Q2 Earnings Guidance

Teladoc Health (NYSE:TDOC) updated its second quarter earnings guidance on Thursday. The company provided EPS guidance of ($0.45)-($0.35) for the period, compared to the consensus EPS estimate of ($0.30). The company issued revenue guidance of $635-$660 million, compared to the consensus revenue estimate of $662.55 million. Teladoc Health also updated its FY24 guidance to ($1.10)-($0.80) EPS.

Wall Street Analysts Forecast Growth

TDOC has been the topic of several recent analyst reports. Cantor Fitzgerald initiated coverage on shares of Teladoc Health in a research note on Thursday, February 29th. They set an overweight rating and a $22.00 target price on the stock. Truist Financial cut their target price on shares of Teladoc Health from $23.00 to $17.00 and set a hold rating on the stock in a research note on Wednesday, March 6th. Canaccord Genuity Group cut their target price on shares of Teladoc Health from $28.00 to $25.00 and set a buy rating on the stock in a research note on Friday. Royal Bank of Canada cut their target price on shares of Teladoc Health from $25.00 to $18.00 and set an outperform rating on the stock in a research note on Friday. Finally, SVB Leerink assumed coverage on shares of Teladoc Health in a report on Monday, February 26th. They set a market perform rating and a $17.00 price target on the stock. Eleven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Teladoc Health currently has an average rating of Hold and an average target price of $19.67.

Teladoc Health Trading Down 2.4 %

TDOC traded down $0.32 during midday 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. Teladoc Health has a one year low of $12.65 and a one year high of $30.41. The business has a 50-day simple moving average of $15.01 and a two-hundred day simple moving average of $17.77. The company has a quick ratio of 3.47, a current ratio of 3.54 and a debt-to-equity ratio of 0.66.

Teladoc Health (NYSE:TDOC) last posted its 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 net margin of 8.90% and a negative return on equity of 10.11%. The firm had revenue of $646.13 million during the quarter, compared to the consensus estimate of $637.31 million. During the same quarter last year, the firm posted ($0.37) EPS. The business’s revenue was up 2.7% on a year-over-year basis. Research analysts predict that Teladoc Health will post -1.07 EPS for the current fiscal year.

Insider Activity

In related news, insider Laizer Kornwasser sold 7,882 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now owns 57,223 shares of the company’s stock, valued at $1,097,537.14. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Teladoc Health news, CMO Stephany Verstraete sold 7,945 shares of Teladoc Health stock in a transaction on Monday, March 4th. The shares were sold at an average price of $14.52, for a total transaction of $115,361.40. Following the completion of the sale, the chief marketing officer now owns 56,486 shares of the company’s stock, valued at approximately $820,176.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Laizer Kornwasser sold 7,882 shares of Teladoc Health stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $19.18, for a total transaction of $151,176.76. Following the sale, the insider now directly owns 57,223 shares of the company’s stock, valued at approximately $1,097,537.14. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 135,441 shares of company stock worth $2,038,251. Insiders own 1.63% 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.