Teladoc Health (NYSE:TDOC) Issues FY24 Earnings Guidance

Teladoc Health (NYSE:TDOC) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of ($1.10)-($0.80) for the period, compared to the consensus EPS estimate of ($1.03). The company issued revenue guidance of $2.635-$2.735 billion, compared to the consensus revenue estimate of $2.66 billion. Teladoc Health also updated its Q2 guidance to ($0.45)-($0.35) EPS.

Teladoc Health Price Performance

NYSE TDOC traded down $0.32 during trading hours on Friday, hitting $13.01. The company’s stock had a trading volume of 7,696,741 shares, compared to its average volume of 4,813,149. Teladoc Health has a 12 month low of $12.65 and a 12 month high of $30.41. The company’s 50 day simple moving average is $15.01 and its two-hundred day simple moving average is $17.77. 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 quarterly earnings data on Thursday, April 25th. The health services provider reported ($0.49) EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $637.31 million. During the same quarter in the previous year, the business posted ($0.37) earnings per share. Teladoc Health’s quarterly revenue was up 2.7% compared to the same quarter last year. Equities research analysts anticipate that Teladoc Health will post -1.07 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on TDOC shares. Canaccord Genuity Group reduced their price objective on Teladoc Health from $28.00 to $25.00 and set a buy rating for the company in a report on Friday. DA Davidson cut their price target 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. Truist Financial cut their price target on Teladoc Health from $23.00 to $17.00 and set a hold rating for the company in a research note on Wednesday, March 6th. Cantor Fitzgerald started coverage on Teladoc Health in a research note on Thursday, February 29th. They set an overweight rating and a $22.00 price target for the company. Finally, TD Cowen cut their price target on Teladoc Health from $16.00 to $15.00 and set a hold rating for the company in a research note on Friday. Eleven research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $19.67.

Insider Activity

In related news, insider Laizer Kornwasser sold 7,882 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $19.18, for a total value of $151,176.76. Following the transaction, the insider now directly owns 57,223 shares of the company’s stock, valued at approximately $1,097,537.14. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Laizer Kornwasser sold 7,882 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $19.18, for a total value of $151,176.76. Following the transaction, the insider now directly owns 57,223 shares of the company’s stock, valued at approximately $1,097,537.14. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Jason N. Gorevic sold 53,755 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $14.52, for a total value of $780,522.60. Following the completion of the transaction, the chief executive officer now directly owns 653,073 shares in the company, valued at $9,482,619.96. The disclosure for this sale can be found here. Insiders have sold a total of 135,441 shares of company stock valued at $2,038,251 in the last ninety days. Corporate 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.