Adam C. Vandervoort, the Chief Legal Officer and Secretary of Teladoc Health, Inc. (NYSE:TDOC), recently sold shares of the company. According to a recent filing, Vandervoort sold 4,004 shares on December 2, 2024, at an average price of $11.927 per share, amounting to a total of $47,755. The transaction comes as Teladoc's stock has shown strong momentum in recent months, despite being down about 47% year-to-date. According to InvestingPro analysis, the company's current market capitalization stands at $1.89 billion.
Additionally, on November 29, 2024, Vandervoort acquired a total of 7,804 shares through the exercise of performance stock units and restricted stock units. These transactions did not involve any cash payment, as they were conversions of previously granted units into common stock. Following these transactions, Vandervoort now holds 50,050 shares of Teladoc Health directly. InvestingPro analysis suggests the stock is currently undervalued, with additional insights available in the comprehensive Pro Research Report, which covers over 1,400 US stocks including Teladoc Health.
In other recent news, Teladoc Health has launched its AI-enhanced Virtual Sitter solution, aimed at improving patient safety in hospitals. The technology allows remote monitoring staff to oversee more patients simultaneously, potentially reducing patient falls in hospitals. The AI-enabled Virtual Sitter is now commercially available and is being rolled out with select clients, as part of Teladoc Health's broader strategy to enhance healthcare experiences and outcomes.
Teladoc Health also revealed its third-quarter financial results for 2024, showing a 3% year-over-year decrease in consolidated revenue to $641 million. Despite the overall decrease, the Integrated Care segment saw a 2.5% rise in revenue, reaching $384 million. However, the BetterHelp segment reported a 10% drop in revenue, settling at $257 million. The company's adjusted EBITDA for the quarter was $83.3 million, down 6% from the previous year, with a 13% margin.
Goldman Sachs (NYSE:GS) has initiated coverage on Teladoc Health, assigning a Buy rating to the company's stock. This development is based on a positive outlook for Teladoc's integrated care business, particularly its Chronic Care Segment, which is expected to drive membership and revenue growth. Goldman Sachs also projects a turnaround in Teladoc's BetterHelp strategy, predicting membership and utilization rates will hit their lowest point by the end of 2025, followed by growth.
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