BofA and Goldman Cut Teladoc (TDOC) Price Targets

Teladoc Health, Inc. (NYSE:TDOC) is one of the 13 Best American Penny Stocks to Invest In. On January 27, BofA Securities reduced its price target on Teladoc Health, Inc. (NYSE:TDOC) from $7.50 to $7 and kept its Neutral rating on the stock.

BofA Securities pointed out that BetterHelp’s monthly active users in Q4 are tracking 0.2% above Q3 levels but 18.7% down compared to the same period last year. Despite year-over-year trends being a little worse than in the previous quarter, BofA sees the flat growth quarter-over-quarter as a positive sign. The firm noted that Teladoc Health, Inc.’s (NYSE:TDOC) core Integrated Care business remains a differentiated offering. However, it pointed to uncertainty around the future growth of both the BetterHelp and Chronic Care segments.

Earlier, on January 16, Goldman Sachs also cut its price target on Teladoc Health, Inc. (NYSE:TDOC) from $9 to $8 and kept its Buy rating on the stock. The firm noted that MedTech and Healthcare IT stocks fell sharply between January 8 and January 14.

According to Goldman, this decline appeared mostly unrelated to fundamentals. The firm’s analyst noted that even companies announcing results above expectations saw their stock price fall, despite offering forward guidance that met or exceeded Street estimates.

Teladoc Health, Inc. (NYSE:TDOC) is a leading virtual care company that delivers 24/7 on-demand remote medical care, mental health services, and chronic condition management. The company helps patients connect with providers for primary care, mental health, and complex care needs.

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Disclosure: None. This article is originally published at Insider Monkey.