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.

Teladoc Health Trading Down 2.4 %

Shares of TDOC stock traded down $0.32 on Friday, hitting $13.01. The stock had a trading volume of 7,696,741 shares, compared to its average volume of 4,813,149. The company’s 50 day moving average price is $15.01 and its 200-day moving average price is $17.77. Teladoc Health has a 1 year low of $12.65 and a 1 year 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.

Teladoc Health (NYSE:TDOC) last released its earnings results on Thursday, April 25th. The health services provider reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $646.13 million for the quarter, compared to analyst estimates of $637.31 million. During the same quarter last year, the company earned ($0.37) earnings per share. Teladoc Health’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, research analysts anticipate that Teladoc Health will post -1.07 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Truist Financial dropped their price objective on shares of Teladoc Health from $23.00 to $17.00 and set a hold rating on the stock in a research report on Wednesday, March 6th. Evercore ISI cut their price target on Teladoc Health from $15.00 to $14.00 and set an in-line rating on the stock in a research note on Friday. Barclays decreased their price target on Teladoc Health from $25.00 to $20.00 and set an overweight rating for the company in a report on Friday. Canaccord Genuity Group dropped their price objective on Teladoc Health from $28.00 to $25.00 and set a buy rating on the stock in a report on Friday. Finally, DA Davidson decreased their target price on Teladoc Health from $22.00 to $18.00 and set a neutral rating for the company in a research note on Wednesday, February 21st. Eleven research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Hold and an average target price of $19.67.

Insider Buying and Selling

In related news, EVP Andrew Turitz sold 6,190 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 $89,878.80. Following the transaction, the executive vice president now owns 39,429 shares in the company, valued at approximately $572,509.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Laizer Kornwasser sold 7,882 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $19.18, for a total transaction of $151,176.76. Following the completion of 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Andrew Turitz sold 6,190 shares of Teladoc Health stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $14.52, for a total value of $89,878.80. Following the completion of the sale, the executive vice president now directly owns 39,429 shares in the company, valued at approximately $572,509.08. The disclosure for this sale can be found here. Insiders sold a total of 135,441 shares of company stock worth $2,038,251 in the last 90 days. Company 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.