Teladoc Health, Inc. (NYSE:TDOC) shares are trading lower on Thursday. The stock has continued to trend lower following the release of the company’s third-quarter earnings on Tuesday.
What To Know: Teladoc reported quarterly losses of 35 cents per share, which beat the analyst consensus estimate of 37 cents, and quarterly sales of $660.24 million which missed the analyst consensus estimate of $664.11 million.
The company also issued guidance, with fourth-quarter revenue anticipated to be between $658 million and $683 million, versus the $686.56 million estimate.
Full-year 2023 revenue is estimated to be between $2.6 billion and $2.625 billion, versus the $2.63 billion estimate.
News of the mixed results and guidance below estimates caused shares to trade lower Wednesday and into Thursday.
Additionally, on Wednesday, two analysts lowered their price targets on the stock. Oppenheimer analyst Michael Wiederhorn maintained Teladoc Health with a Outperform and lowered the price target from $35 to $26 and RBC Capital analyst Sean Dodge maintained the stock with a Outperform and lowered the price target from $35 to $30.
It is worth noting that Teledoc stock has hit a new 52-week low.
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TDOC Price Action: Shares of TDOC were down 7.12% at $16.17 at the time of publication, according to Benzinga Pro.
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