Teladoc Health Inc. (NYSE: TDOC) stock fell -1.66% on Tuesday to $27.20 against a previous-day closing price of $27.66. With 3.28 million shares changed hands, the volume of the stock remained lighter than its average volume of 4.65 million shares. During the session, the Health Information Services company that operates in wider Healthcare sector, reached to the highest price of $31.45 whereas the lowest price it dropped to was $27.10. The 52-week range on TDOC shows that it touched its highest point at $80.83 and its lowest point at $21.60 during that stretch. It currently has a 1-year price target of $32.04. Beta for the stock currently stands at 0.98.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of TDOC was down-trending over the past week, with a drop of -3.61%, but this was up by 2.76% over a month. Three-month performance surged to 13.19% while six-month performance fell -35.36%. The stock lost -62.69% in the past year, while it has gained 15.01% so far this year. A look at the trailing 12-month EPS for TDOC yields -61.32 with Next year EPS estimates of -1.40. For the next quarter, that number is -0.25. This implies an EPS growth rate of 49.00% for this year and 97.60% for next year.
Float and Shares Shorts:
At present, 161.73 million TDOC shares are outstanding with a float of 160.19 million shares on hand for trading. On Oct 13, 2022, short shares totaled 33.08 million, which was 20.47% higher than short shares on Sep 14, 2022. In addition to Mr. Jason Nathanial Gorevic as the firm’s CEO & Director, Ms. Mala Murthy serves as its Chief Financial Officer.
Through their ownership of 87.05% of TDOC’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 45.23% of TDOC, in contrast to 39.35% held by mutual funds. Shares owned by individuals account for 15.30%. As the largest shareholder in TDOC with 12.88% of the stake, ARK Investment Management LLC holds 20,858,302 shares worth 20,858,302. A second-largest stockholder of TDOC, The Vanguard Group, Inc., holds 13,425,023 shares, controlling over 8.29% of the firm’s shares. Nikko Asset Management Co., Ltd. is the third largest shareholder in TDOC, holding 8,599,503 shares or 5.31% stake. With a 6.87% stake in TDOC, the ARK Innovation ETF is the largest stakeholder. A total of 11,128,285 shares are owned by the mutual fund manager. The Kinnevik AB, which owns about 4.63% of TDOC stock, is the second-largest Mutual Fund holder. It holds 7,491,124 shares valued at 177.17 million. Vanguard Total Stock Market Index holds 2.76% of the stake in TDOC, owning 4,462,216 shares worth 105.53 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for TDOC since 31 analysts follow the stock currently. There are 5 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 25 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With TDOC analysts setting a high price target of $40.00 and a low target of $24.00, the average target price over the next 12 months is $31.78. Based on these targets, TDOC could surge 47.06% to reach the target high and fall by -11.76% to reach the target low. Reaching the average price target will result in a growth of 16.84% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. TDOC will report FY 2022 earnings on 02/21/2024. Analysts have provided yearly estimates in a range of -$61.02 being high and -$61.65 being low. For TDOC, this leads to a yearly average estimate of -$61.27. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Teladoc Health Inc. surprised analysts by $0.12 when it reported -$0.45 EPS against a consensus estimate of -$0.57. The surprise factor in the prior quarter was -$18.61. Based on analyst estimates, the high estimate for the next quarter is -$0.09 and the low estimate is -$0.65. The average estimate for the next quarter is thus -$0.25.
Summary of Insider Activity:
Insiders traded TDOC stock several times over the past three months with 3 Buys and 6 Sells. In these transactions, 1,932 shares were bought while 6,708 shares were sold. The number of buy transactions has increased to 54 while that of sell transactions has risen to 28 over the past year. The total number of shares bought during that period was 174,357 while 56,133 shares were sold.