BTIG analyst David Larsen has maintained their neutral stance on TDOC stock, giving a Hold rating today.
David Larsen has given his Hold rating due to a combination of factors impacting Teladoc’s performance. The company reported a slight decline in revenue and a significant drop in adjusted EBITDA, which fell short of expectations. The BetterHelp segment, in particular, showed a notable decrease in EBITDA, raising concerns about its recovery trajectory.
Additionally, Teladoc’s core business is experiencing challenges, especially in the payer channel, which is facing various pressures such as higher utilization and rate reductions. While the company is making strategic shifts, like moving towards visit-based contracts, there are still uncertainties about its ability to re-accelerate revenue growth. The valuation of Teladoc also appears less attractive compared to its peers, contributing to the Hold rating.
Based on the recent corporate insider activity of 64 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TDOC in relation to earlier this year.