Teladoc price target lowered to $8 from $9 at Goldman Sachs

Goldman Sachs lowered the firm’s price target on Teladoc (TDOC) to $8 from $9 and keeps a Buy rating on the shares. MedTech and Healthcare IT stocks fell sharply from January 8-14, declining about 3% and 11%, respectively, in a move that appears largely disconnected from fundamentals, the analyst tells investors in a research note. Even companies pre-announcing above-consensus results saw share weakness, despite forward outlooks generally at or above current Street expectations, the firm says.