Teladoc Health (NYSE:TDOC) Updates Q2 Earnings Guidance

Teladoc Health (NYSE:TDOC) updated its second quarter earnings guidance on Thursday. The company provided earnings per share guidance of ($0.45)-($0.35) for the period, compared to the consensus earnings per share 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.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on TDOC shares. Citigroup dropped their target price on Teladoc Health from $21.00 to $19.00 and set a neutral rating on the stock in a research note on Wednesday, February 21st. Truist Financial dropped their target price on 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 dropped their target price on Teladoc Health from $28.00 to $25.00 and set a buy rating on the stock in a research note on Friday. Leerink Partnrs reiterated a market perform rating on shares of Teladoc Health in a research note on Monday, February 26th. Finally, DA Davidson dropped their price target on Teladoc Health from $22.00 to $18.00 and set a neutral rating on the stock in a research note on Wednesday, February 21st. Eleven analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $19.67.

Teladoc Health Stock Performance

Shares of NYSE:TDOC traded down $0.32 during midday trading on Friday, hitting $13.01. The company 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 company has a debt-to-equity ratio of 0.66, a current ratio of 3.54 and a quick ratio of 3.47. The business’s 50-day simple moving average is $15.01 and its 200-day simple moving average is $17.77.

Teladoc Health (NYSE:TDOC) last issued its quarterly earnings data 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). The business had revenue of $646.13 million during the quarter, compared to analysts’ expectations of $637.31 million. Teladoc Health had a negative return on equity of 10.11% and a negative net margin of 8.90%. The company’s revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.37) earnings per share. Analysts anticipate that Teladoc Health will post -1.07 EPS for the current year.

Insider Activity

In other news, CTO Nikolaos P. Nanis sold 2,866 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $14.52, for a total value of $41,614.32. Following the sale, the chief technology officer now directly owns 69,850 shares in the company, valued at $1,014,222. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Teladoc Health news, EVP Andrew Turitz sold 6,190 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $14.52, for a total value of $89,878.80. Following the sale, the executive vice president now directly owns 39,429 shares in the company, valued at $572,509.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Nikolaos P. Nanis sold 2,866 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were 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 owns 69,850 shares in the company, valued at $1,014,222. 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. 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.