Teladoc Health (NYSE:TDOC) Updates Q2 Earnings Guidance

Teladoc Health (NYSE:TDOC) issued an update on its second quarter earnings guidance on Thursday morning. 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.

Teladoc Health Stock Down 2.4 %

Teladoc Health stock traded down $0.32 during mid-day trading on Friday, reaching $13.01. The company’s stock had a trading volume of 7,696,741 shares, compared to its average volume of 4,813,149. Teladoc Health has a twelve month low of $12.65 and a twelve month high of $30.41. The business has a 50 day moving average price of $15.01 and a 200-day moving average price of $17.77. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.47 and a current ratio of 3.54.

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

Analyst Ratings Changes

A number of research analysts recently issued reports on TDOC shares. Stifel Nicolaus reduced their price objective on Teladoc Health from $21.00 to $16.00 and set a hold rating for the company in a research report on Friday. Leerink Partnrs reissued a market perform rating on shares of Teladoc Health in a report on Monday, February 26th. Needham & Company LLC reaffirmed a hold rating on shares of Teladoc Health in a report on Friday. Canaccord Genuity Group reduced their target price on shares of Teladoc Health from $28.00 to $25.00 and set a buy rating for the company in a research note on Friday. Finally, SVB Leerink started coverage on shares of Teladoc Health in a research note on Monday, February 26th. They issued a market perform rating and a $17.00 price target on the stock. Eleven analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Teladoc Health currently has a consensus rating of Hold and a consensus price target of $19.67.

Insider Activity

In other Teladoc Health news, insider Laizer Kornwasser sold 7,882 shares of the company’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $19.18, for a total value of $151,176.76. Following the transaction, the insider now owns 57,223 shares of the company’s stock, valued at $1,097,537.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Teladoc Health news, insider Laizer Kornwasser sold 7,882 shares of the stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $19.18, for a total transaction of $151,176.76. Following the transaction, the insider now directly owns 57,223 shares of the company’s stock, valued at $1,097,537.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Nikolaos P. Nanis sold 2,866 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $14.52, for a total value of $41,614.32. Following the completion of the sale, the chief technology officer now directly owns 69,850 shares of the company’s stock, valued at approximately $1,014,222. The disclosure for this sale can be found here. In the last quarter, insiders sold 135,441 shares of company stock worth $2,038,251. Corporate 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.