Teladoc Health (NYSE:TDOC) Updates Q2 Earnings Guidance

Teladoc Health (NYSE:TDOC) issued an update on its second quarter earnings guidance on Thursday morning. 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 Price Performance

NYSE TDOC 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. Teladoc Health has a one year low of $12.65 and a one 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. The company’s 50-day moving average is $15.01 and its two-hundred day moving average is $17.77.

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

Analyst Ratings Changes

TDOC has been the subject of several recent analyst reports. Needham & Company LLC reiterated a hold rating on shares of Teladoc Health in a report on Friday. Cantor Fitzgerald initiated coverage on shares of Teladoc Health in a report on Thursday, February 29th. They issued an overweight rating and a $22.00 price objective for the company. Canaccord Genuity Group decreased their price objective on shares of Teladoc Health from $28.00 to $25.00 and set a buy rating for the company in a report on Friday. DA Davidson reduced their target price on shares of Teladoc Health from $22.00 to $18.00 and set a neutral rating for the company in a report on Wednesday, February 21st. Finally, Stifel Nicolaus reduced their target price on shares of Teladoc Health from $21.00 to $16.00 and set a hold rating for the company in a report on Friday. Eleven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Hold and an average target price of $19.67.

Insider Activity at Teladoc Health

In related news, EVP Andrew Turitz sold 6,190 shares of the company’s 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 owns 39,429 shares in the company, valued at approximately $572,509.08. 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 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 owns 39,429 shares in the company, valued at approximately $572,509.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Michael Willem Waters sold 4,523 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 $86,751.14. Following the completion of the sale, the chief operating officer now owns 38,570 shares of the company’s stock, valued at approximately $739,772.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 135,441 shares of company stock worth $2,038,251. 1.63% of the stock is owned by corporate insiders.

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.