Teladoc Health, Inc. (NYSE:TDOC) has reported a recent transaction involving its Chief Operating Officer, Michael Willem Waters (NYSE:WAT). Waters has sold a total of 5,793 shares of the company's common stock, with the transaction amount totaling over $73,000. The shares were sold at a price of $12.688 each.
This sale took place on May 2, 2024, following an acquisition of shares on May 1 through the conversion of restricted stock units (RSUs). The RSUs converted to common stock on a one-for-one basis, which did not involve any monetary transaction, as indicated by the company's filing. The RSUs that were converted had been granted to Waters on August 1, 2022, with a vesting schedule that included one-third vesting on the first anniversary of the grant date and the remainder vesting in eight substantially equal quarterly installments thereafter.
The sale by Waters was reportedly made to cover tax withholding obligations related to the vesting of his restricted stock unit awards. Following these transactions, Waters directly owns 64,881 shares of Teladoc Health.
Investors often monitor insider transactions as they provide insights into how executives perceive the value of the company stock and their expectations for the future. Teladoc Health, a leading provider of virtual healthcare services, has been under the investor's lens, especially during the ongoing transformation in healthcare delivery methods.
For those tracking Teladoc Health's stock movements, it's worth noting that the company's shares are publicly traded under the ticker symbol TDOC on the New York Stock Exchange.
InvestingPro Insights
Teladoc Health, Inc. (NYSE:TDOC) has caught the attention of investors not only due to insider transactions but also because of its current financial metrics and market performance. According to data from InvestingPro, Teladoc's market capitalization stands at approximately $2.2 billion. Despite a challenging market environment, the company's revenue over the last twelve months as of Q1 2024 was $2.619 billion, showcasing a growth of 6.01%. This growth, however, comes with the backdrop of the company trading near its 52-week low, with a previous close price of $12.81.
InvestingPro Tips highlight that analysts have recently revised their earnings expectations downwards for the upcoming period, suggesting caution among experts about the company's short-term profitability. Furthermore, the valuation implies a strong free cash flow yield, which could be a signal for value investors considering the company's future cash generation potential. It's important to note that while the company has liquid assets that exceed short-term obligations, analysts do not anticipate Teladoc will be profitable this year, and the company does not pay a dividend to shareholders.
With these insights in mind, investors may want to delve deeper into the company's financials and market position. For those seeking more comprehensive analysis, InvestingPro offers additional tips that could provide further clarity on Teladoc's valuation and performance. There are currently 7 additional InvestingPro Tips available for Teladoc Health, which can be accessed at https://www.investing.com/pro/TDOC. Interested readers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking more in-depth insights and data.
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