Why Teladoc Health Stock Fell Again on Thursday
For the second day in a row, Teladoc Health (NYSE: TDOC) health was looking rather sickly on Thursday. Investors traded the telemedicine specialist's shares down by more than 5%, following an aggressive price target cut from an analyst.
That analyst was Oppenheimer's Mohan Naidu, who, before market open, took an axe to his price target on Teladoc stock by reducing it to $37 per share from his previous level of $45. That doesn't mean he's bearish on the bellwether telemedicine company, though -- he's maintaining his outperform (buy, in other words) recommendation on it.
It wasn't apparent why he did so, but it doesn't seem coincidental. The move followed Wednesday's disclosure by the company in a regulatory filing that it was enacting a restructuring plan. This will see it lay off around 300 workers and reduce its office space footprint.
Source Fool.com
