Teladoc Health (NYSE:TDOC) Updates Q2 2024 Earnings Guidance

Teladoc Health (NYSE:TDOC) updated its second quarter 2024 earnings guidance on Thursday. The company provided earnings per share guidance of -0.450–0.350 for the period, compared to the consensus earnings per share estimate of -0.300. The company issued revenue guidance of $635.0 million-$660.0 million, compared to the consensus revenue estimate of $662.6 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 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 52-week low of $12.65 and a 52-week high of $30.41. The company’s 50-day moving average is $15.01 and its two-hundred day moving average is $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 released its quarterly earnings results on Thursday, April 25th. The health services provider reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by ($0.02). Teladoc Health had a negative return on equity of 10.11% and a negative net margin of 8.90%. The firm had revenue of $646.13 million for the quarter, compared to analysts’ expectations of $637.31 million. During the same period last year, the firm earned ($0.37) EPS. The business’s quarterly revenue was up 2.7% on a year-over-year basis. As a group, analysts forecast that Teladoc Health will post -1.07 EPS for the current fiscal year.

Analysts Set New Price Targets

TDOC has been the topic of a number of research analyst reports. DA Davidson reduced their target price on Teladoc Health from $22.00 to $18.00 and set a neutral rating on the stock in a report on Wednesday, February 21st. Leerink Partnrs reissued a market perform rating on shares of Teladoc Health in a report on Monday, February 26th. Piper Sandler dropped their price target on Teladoc Health from $30.00 to $25.00 and set an overweight rating on the stock in a research note on Wednesday, February 21st. TD Cowen reduced their price objective on Teladoc Health from $16.00 to $15.00 and set a hold rating for the company in a research note on Friday. Finally, Royal Bank of Canada dropped their target price on Teladoc Health from $25.00 to $18.00 and set an outperform rating on the stock in a report on Friday. Eleven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $19.67.

Insider Buying and Selling at Teladoc Health

In related news, insider Laizer Kornwasser sold 7,882 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 57,223 shares of the company’s stock, valued at approximately $1,097,537.14. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Arnnon Geshuri sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $15.06, for a total value of $112,950.00. Following the transaction, the insider now owns 38,470 shares of the company’s stock, valued at $579,358.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Laizer Kornwasser sold 7,882 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 57,223 shares in the company, valued at $1,097,537.14. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 135,441 shares of company stock valued at $2,038,251. Company 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.