Stephens analysts initates an Equal-weight rating for Teladoc Health Inc. (TDOC)


Teladoc Health Inc.’s recently made public that its CHIEF FINANCIAL OFFICER Murthy Mala unloaded Company’s shares for reported $73742.0 on Sep 05. In the deal valued at $22.89 per share,3,221 shares were sold. As a result of this transaction, Murthy Mala now holds 46,907 shares worth roughly $ 0.97 million.

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Then, GOREVIC JASON N sold 2,864 shares, generating $65,568 in total proceeds. Upon selling the shares at $22.89, the CHIEF EXECUTIVE OFFICER now owns 598,996 shares.

Before that, Jensen Claus Torp sold 2,093 shares. Teladoc Health Inc. shares valued at $47,917 were divested by the CHIEF INNOVATION OFFICER at a price of $22.89 per share. As a result of the transaction, Jensen Claus Torp now holds 15,853 shares, worth roughly $0.33 million.

Stephens initiated its Teladoc Health Inc. [TDOC] rating to an Equal-weight in a research note published on Monday, April 12, 2023; the price target was $25. PT values the company’s stock at a premium of 16.92 to its Monday closing price.

Price Performance Review of TDOC

On Monday, Teladoc Health Inc. [NYSE:TDOC] saw its stock fall -2.03% to $20.77. On the same session, the stock had its day’s lowest price of $20.77, but rose to a high of $21.26. Over the last five days, the stock has lost -8.86%. Teladoc Health Inc. shares have fallen nearly -12.18% since the year began. Nevertheless, the stocks have fallen -34.87% over the past one year. While a 52-week high of $34.73 was reached on 02/02/23, a 52-week low of $20.98 was recorded on 09/18/23. SMA at 50 days reached $24.04, while 200 days put it at $25.47. A total of 5.09 million shares were traded, compared to the trading of 4.29 million shares in the previous session.

Levels Of Support And Resistance For TDOC Stock

The 24-hour chart illustrates a support level at 20.61, which if violated will result in even more drops to 20.44. On the upside, there is a resistance level at 21.10. A further resistance level may holdings at 21.42. The Relative Strength Index (RSI) on the 14-day chart is 30.24, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.11, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 100.00%. Stochastics %K at 21.19% indicates the stock is a holding.

How much short interest is there in Teladoc Health Inc.?

A steep rise in short interest was recorded in Teladoc Health Inc. stocks on Aug 30, 2023, growing by 1.44 million shares to a total of 29.26 million shares. Yahoo Finance data shows the prior-month short interest on Jul 30, 2023 was 27.82 million shares. There was a rise of 4.92%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 20.18% of the overall stock float, the days-to-cover ratio (short ratio) rose to 6.67.

Teladoc Health Inc. [TDOC] – Who Are The Largest Shareholders?

In filings from ARK Investment Management LLC, it is revealed that the company now owns 20,344,101 shares, or roughly 12.33% of the outstanding TDOC shares. In other words, the investor’s shares have fallen by -240,079 from its previous 13-F filing of 20584180.0. Additionally, The Vanguard Group, Inc. increased 8.02% of its stake after which the total value it holdings stand at $386,597,108. Over the last quarter, Nikko Asset Management Americas, sold -179,306 shares of Teladoc Health Inc., while BlackRock Fund Advisors sold -669,382 shares. At present, SSgA Funds Management, Inc. is holding 5,136,970 shares valued at $116.3 million. Renaissance Technologies LLC owned 4,407,819 shares of the company at the time of its most recent 13F filing, worth $99.79 million.

According to FactSet, Teladoc Health Inc.’s share price will average $29.63 in the next year, based on opinions of analysts polled by the firm. This is up nearly 36.79 percent from its previous closing price of $21.20. Analysts expect Teladoc Health Inc. stock to reach the higher price of $40.00, while the lowest price estimate is $25.00. However, 28 analysts have rated TDOC stock as a Hold in their predictions for 2023.


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