Is Teladoc Health Inc. (TDOC) positioned for future growth?

Teladoc Health Inc. (NYSE: TDOC) stock fell -1.97% on Thursday to $22.88 against a previous-day closing price of $23.34. With 3.75 million shares changed hands, the volume of the stock remained heavier than its average volume of 3.62 million shares. During the session, the Health Information Services company that operates in wider Healthcare sector, reached to the highest price of $23.46 whereas the lowest price it dropped to was $22.56. The 52-week range on TDOC shows that it touched its highest point at $44.66 and its lowest point at $21.60 during that stretch. It currently has a 1-year price target of $30.08. Beta for the stock currently stands at 1.07.

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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 -5.18%, but this was down by -11.21% over a month. Three-month performance dropped to -15.38% while six-month performance fell -17.76%. The stock lost -25.88% in the past year, while it has lost -3.26% so far this year. A look at the trailing 12-month EPS for TDOC yields -43.59 with Next year EPS estimates of -1.00. For the next quarter, that number is -0.41. This implies an EPS growth rate of 98.40% for this year and 24.80% for next year.

Float and Shares Shorts:

At present, 162.92 million TDOC shares are outstanding with a float of 160.19 million shares on hand for trading. On Apr 27, 2023, short shares totaled 26.89 million, which was 16.43% higher than short shares on Mar 30, 2023. In addition to Mr. Jason Nathanial Gorevic as the firm’s CEO & Director, Ms. Mala Murthy serves as its Chief Financial Officer.

Institutional Ownership:

Through their ownership of 80.15% of TDOC’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 53.24% of TDOC, in contrast to 27.24% held by mutual funds. Shares owned by individuals account for 15.31%. As the largest shareholder in TDOC with 12.66% of the stake, ARK Investment Management LLC holds 20,584,180 shares worth 20,584,180. A second-largest stockholder of TDOC, The Vanguard Group, Inc., holds 15,808,173 shares, controlling over 9.72% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in TDOC, holding 8,072,236 shares or 4.96% stake. With a 7.38% stake in TDOC, the Columbia Convertible Securities F is the largest stakeholder. A total of 12,000,000 shares are owned by the mutual fund manager. The ARK Innovation ETF, which owns about 7.36% of TDOC stock, is the second-largest Mutual Fund holder. It holds 11,972,170 shares valued at 317.62 million. Kinnevik AB holds 4.61% of the stake in TDOC, owning 7,491,124 shares worth 198.74 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, TDOC reported revenue of $592.38M and operating income of -$63.66M. The EBITDA in the recently reported quarter was -$1.97M and diluted EPS was -$19.22.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for TDOC since 0 analysts follow the stock currently. 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 $25.00, the average target price over the next 12 months is $30.18. Based on these targets, TDOC could surge 74.83% to reach the target high and rise by 9.27% to reach the target low. Reaching the average price target will result in a growth of 31.91% 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.

Summary of Insider Activity:

Insiders traded TDOC stock several times over the past three months with 47 Buys and 19 Sells. In these transactions, 207,863 shares were bought while 91,728 shares were sold. The number of buy transactions has increased to 59 while that of sell transactions has risen to 41 over the past year. The total number of shares bought during that period was 224,867 while 118,344 shares were sold.

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