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Teladoc Health, Inc. (NYSE:TDOC) Chief Financial Officer Murthy Mala recently sold shares of the company, according to a filing with the Securities and Exchange Commission. The sale comes as the stock trades near $7.16, down over 50% in the past year. According to InvestingPro analysis, the stock's RSI indicates oversold conditions. On April 7, Mala sold 7,494 shares of Teladoc Health common stock at an average price of $6.807 per share, totaling approximately $51,011.
Earlier in the week, on April 4, Mala acquired 12,652 shares through the exercise of restricted stock units, which convert to common stock on a one-for-one basis. This transaction did not involve any cash exchange, as the restricted stock units were vested and converted at a price of $0 per share.
Following these transactions, Mala holds a total of 121,467 shares of Teladoc Health common stock. The sale of shares was executed to cover tax obligations related to the vesting of restricted stock units.
In other recent news, Teladoc Health Inc. reported its fourth-quarter 2024 earnings with a revenue of $640.5 million, slightly exceeding the forecast of $638.5 million. However, the company's earnings per share (EPS) was -$0.28, missing the expected -$0.23. For the full year, Teladoc's revenue totaled $2.6 billion, marking a 1% decline from 2023. Meanwhile, the company ended 2024 with $1.3 billion in cash and cash equivalents. In terms of strategic developments, Teladoc announced a partnership with Gifthealth, a pharmacy partner for Eli Lilly (NYSE:LLY)'s LillyDirect program, aiming to improve access to the medication Zepbound for its Comprehensive Weight Care Program. Truist Securities maintained a Hold rating on Teladoc shares with a $10.00 price target, while Stifel also reiterated a Hold rating but with a $9.00 price target. Analysts from Needham expressed concerns over the company's mixed fourth-quarter results and the outlook for 2025, citing uncertainties that prevent a more positive stance on the stock.
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