Fernando M. Rodrigues, President of BetterHelp at Teladoc Health, Inc. (NYSE:TDOC), recently reported significant stock sales in the company. According to a recent filing, Rodrigues sold a total of 21,964 shares of Teladoc Health common stock, generating approximately $249,902. The sales took place over two days, with prices ranging from $11.071 to $11.927 per share. The stock, currently trading at $10.95, has shown strong momentum over the past three months despite being down 46% year-to-date. According to InvestingPro analysis, Teladoc appears undervalued with a GREAT financial health score.
On November 29, Rodrigues acquired 21,964 shares of common stock through the exercise of restricted stock units, which convert on a one-for-one basis. Subsequently, on December 2 and December 3, he sold 7,873 and 14,091 shares, respectively. The sales were made to cover tax obligations related to the vesting of restricted stock units, as noted in the filing. Want deeper insights into Teladoc's valuation and future prospects? InvestingPro subscribers get access to exclusive financial metrics and 10 additional ProTips for TDOC.
Following these transactions, Rodrigues no longer holds any shares directly in Teladoc Health, which currently maintains a market capitalization of $1.89 billion and operates with a moderate debt level.
In other recent news, Teladoc Health introduced AI enhancements to its Virtual Sitter offering, aiming to enhance patient safety in hospitals. The enhanced solution allows remote monitoring staff to oversee more patients simultaneously, potentially reducing patient falls in hospitals. The AI-enabled Virtual Sitter uses pre-trained algorithms to identify patient movements that could lead to a fall, allowing for quicker intervention. This development is part of Teladoc Health's broader strategy to leverage technology to enhance healthcare experiences and outcomes.
On the financial front, Teladoc Health reported a 3% year-over-year decrease in consolidated revenue to $641 million for Q3 2024, with the Integrated Care segment experiencing a 2.5% rise in revenue. The company's adjusted EBITDA for the quarter was $83.3 million, down 6% from the previous year. Looking ahead, Teladoc estimates Integrated Care revenue to remain flat or rise up to 2.5% for the fourth quarter.
Goldman Sachs (NYSE:GS) initiated coverage on Teladoc Health, assigning a Buy rating to the company's stock. The firm's positive outlook is based on Teladoc's integrated care business, especially its Chronic Care Segment, which is expected to fuel membership and revenue growth. Goldman Sachs also anticipates a turnaround in Teladoc's BetterHelp strategy and expects the company's adjusted EBITDA to stabilize in 2025, with a turning point forecasted in 2026 or later.
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