Royal Bank of Canada Initiates Coverage on Teladoc Health (NYSE:TDOC)

Royal Bank of Canada assumed coverage on shares of Teladoc Health (NYSE:TDOC) in a report published on Wednesday, Benzinga reports. The brokerage issued an outperform rating and a $100.00 price target on the health services provider’s stock.

Other equities analysts also recently issued research reports about the company. Stifel Nicolaus began coverage on Teladoc Health in a report on Monday, November 25th. They issued a hold rating and a $83.00 price objective for the company. Oppenheimer set a $83.00 price objective on Teladoc Health and gave the stock a buy rating in a report on Friday, September 6th. JPMorgan Chase & Co. increased their price objective on Teladoc Health from $82.00 to $83.00 and gave the stock an overweight rating in a report on Thursday, September 19th. Craig Hallum increased their price objective on Teladoc Health from $70.00 to $80.00 and gave the stock a buy rating in a report on Thursday, August 1st. Finally, SunTrust Banks increased their price objective on Teladoc Health to $80.00 and gave the stock a positive rating in a report on Tuesday, August 6th. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $81.73.

TDOC opened at $83.74 on Wednesday. The stock has a fifty day simple moving average of $75.77 and a two-hundred day simple moving average of $66.84. The company has a current ratio of 6.55, a quick ratio of 6.55 and a debt-to-equity ratio of 0.44. The company has a market cap of $6.22 billion, a price-to-earnings ratio of -58.15 and a beta of 1.39. Teladoc Health has a 12-month low of $42.08 and a 12-month high of $86.30.

Teladoc Health (NYSE:TDOC) last posted its quarterly earnings data on Wednesday, October 30th. The health services provider reported ($0.28) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.12. The business had revenue of $137.96 million during the quarter, compared to the consensus estimate of $136.46 million. Teladoc Health had a negative return on equity of 11.23% and a negative net margin of 20.15%. The firm’s quarterly revenue was up 24.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.34) earnings per share. On average, analysts predict that Teladoc Health will post -1.55 EPS for the current year.

In other news, insider Lewis Levy sold 675 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $60.00, for a total transaction of $40,500.00. Following the completion of the transaction, the insider now directly owns 4,805 shares in the company, valued at $288,300. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Adam C. Vandervoort sold 3,525 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $79.12, for a total value of $278,898.00. Following the transaction, the insider now owns 1,114 shares of the company’s stock, valued at $88,139.68. The disclosure for this sale can be found here. Insiders have sold 76,582 shares of company stock valued at $5,614,983 over the last 90 days. Corporate insiders own 3.95% of the company’s stock.

Several large investors have recently modified their holdings of TDOC. Westside Investment Management Inc. purchased a new stake in shares of Teladoc Health during the second quarter valued at $26,000. Meridian Wealth Management LLC purchased a new stake in shares of Teladoc Health during the second quarter valued at $27,000. CENTRAL TRUST Co boosted its position in shares of Teladoc Health by 82.6% during the second quarter. CENTRAL TRUST Co now owns 378 shares of the health services provider’s stock valued at $27,000 after buying an additional 171 shares during the last quarter. CNB Bank boosted its position in shares of Teladoc Health by 100.0% during the third quarter. CNB Bank now owns 400 shares of the health services provider’s stock valued at $27,000 after buying an additional 200 shares during the last quarter. Finally, Capital Investment Advisory Services LLC boosted its position in shares of Teladoc Health by 800.0% during the third quarter. Capital Investment Advisory Services LLC now owns 450 shares of the health services provider’s stock valued at $30,000 after buying an additional 400 shares during the last quarter.

Teladoc Health Company Profile

Teladoc Health, Inc provides telehealth services. It offers a portfolio of services and solutions covering 450 medical subspecialties, such as flu and upper respiratory infections, cancer, and congestive heart failure. The company provides its services through mobile devices, the Internet, video, and phone.

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