Why Teladoc Health Was Tumbling on Tuesday

Teladoc Health (NYSE: TDOC), to many investors the top stock in the mushrooming telehealth segment, looked a bit sickly on Tuesday. As of late afternoon, the shares were down by more than 5%, in contrast to the slight rise of the S&P 500 index. The latest in a series of analyst price target cuts was the primary reason for the slide.

Following similar adjustments from several of his peers in the stock forecasting realm, Canaccord Genuity analyst Richard Close has chopped his price target for Teladoc. He now believes the shares are worth $160 apiece, down some distance from his previous level of $188.

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Source Fool.com