Teladoc Health sees unusually high option volume (NYSE:TDOC)

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Teladoc Health, Inc. (NYSE:TDOC – Get Rating) was the target of unusual options trades on Wednesday. Stock traders bought 32,579 put options on the company. This is an increase of approximately 64% from the average volume of 19,898 put options.

Changes to analyst ratings

TDOC has been the subject of several recent analyst reports. Truist Financial launched coverage on Teladoc Health in a research note on Wednesday, September 7. They set a “hold” rating and a target price of $35.00 on the stock. Goldman Sachs Group has downgraded Teladoc Health from a ‘buy’ rating to a ‘neutral’ rating and cut its price target for the company from $55.00 to $36.00 in a Thursday research report July 28. Berenberg Bank downgraded Teladoc Health from a “buy” rating to a “hold” rating and lowered its price target for the stock from $42.00 to $35.00 in a Tuesday 2 august. Cowen downgraded Teladoc Health from an “outperforming” rating to a “market performance” rating and lowered its price target for the stock from $58.00 to $34.00 in a Tuesday research note. August 2nd. Finally, Bank of America raised its price target on Teladoc Health from $36.00 to $42.00 and gave the stock a “neutral” rating in a Wednesday, July 6 research note. Two equity research analysts gave the stock a sell rating, twenty-four issued a hold rating and five gave the company’s stock a buy rating. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $64.13.

Teladoc health stock down 4.4%

NYSE:TDOC shares were down $1.24 midday Wednesday, hitting $26.76. 54,563 shares of the company have been traded, against an average volume of 4,509,476. The company has a current ratio of 3.38, a quick ratio of 3.22 and a debt ratio of 0.25. The stock has a 50-day moving average price of $32.86 and a 200-day moving average price of $40.58. Teladoc Health has a 12 month minimum of $24.67 and a 12 month maximum of $156.82.

Teladoc Health (NYSE:TDOC – Get Rating) last released quarterly earnings data on Wednesday, July 27. The healthcare service provider reported ($0.44) earnings per share (EPS) for the quarter, beating analyst consensus estimates of ($0.71) by $0.27. Teladoc Health had a negative net margin of 441.94% and a negative return on equity of 2.04%. The company posted revenue of $592.38 million in the quarter, versus a consensus estimate of $586.86 million. Analysts expect Teladoc Health to post -1.54 EPS for the current year.

Insider activity

Separately, SVP Daniel Trencher sold 1,000 shares of the company in a transaction on Monday, July 18. The stock was sold at an average price of $41.12, for a total transaction of $41,120.00. Following the transaction, the senior vice president now owns 27,408 shares of the company, valued at $1,127,016.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Teladoc Health news, SVP Daniel Trencher sold 1,000 shares of the company in a trade on Monday, July 18. The stock was sold at an average price of $41.12, for a total value of $41,120.00. Following the sale, the senior vice president now owns 27,408 shares of the company, valued at $1,127,016.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, accessible via the SEC’s website. Additionally, insider Arnnon Geshuri sold 4,098 shares of the company in a trade on Friday, August 26. The shares were sold at an average price of $34.27, for a total value of $140,438.46. Following the completion of the sale, the insider now directly owns 76,182 shares of the company, valued at approximately $2,610,757.14. The disclosure of this sale can be found here. In the past 90 days, insiders have sold 7,318 shares of the company valued at $255,321. Insiders of the company own 1.55% of the shares of the company.

Institutional entries and exits

A number of hedge funds and other institutional investors have recently increased or reduced their stakes in the stock. Cubist Systematic Strategies LLC increased its holdings of Teladoc Health shares by 501.6% during the 4th quarter. Cubist Systematic Strategies LLC now owns 65,583 shares of the healthcare provider valued at $6,022,000 after purchasing an additional 54,681 shares in the last quarter. MML Investors Services LLC increased its position in Teladoc Health shares by 8.3% in the 4th quarter. MML Investors Services LLC now owns 33,708 shares of the healthcare provider worth $3,095,000 after purchasing an additional 2,579 shares during the period. Marshall Wace LLP increased its position in Teladoc Health shares by 70.2% in the fourth quarter. Marshall Wace LLP now owns 438,030 shares of the healthcare provider worth $40,219,000 after purchasing an additional 180,654 shares during the period. Laurion Capital Management LP increased its position in Teladoc Health shares by 258.5% in the fourth quarter. Laurion Capital Management LP now owns 20,671 shares of the healthcare provider worth $1,898,000 after purchasing an additional 14,905 shares during the period. Finally, Kinnevik AB publ purchased a new equity stake in Teladoc Health in Q4 for a value of approximately $458,235,000. 92.46% of the shares are currently held by hedge funds and other institutional investors.

Company Profile Teladoc Health

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Teladoc Health, Inc provides virtual healthcare services in the United States and internationally. The company offers a portfolio of services and solutions covering elective, episodic, chronic and complicated medical conditions, including diabetes, hypertension, chronic kidney disease, cancer, congestive heart failure and mental health issues. .

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