What happened

Teladoc Health (TDOC 0.62%) stock probably could have used a physician's services on Monday. The company's shares caught the sniffles, declining by nearly 5% on the back of not one, but two analysts' price target cuts.

So what

Teladoc continues to be largely out of favor with the market following last month's release of its fourth-quarter and full-2022 earnings. Exacerbating this, on Monday morning, a pair of analysts revealed that they have become more bearish on the telehealth specialist's prospects.

Canaccord Genuity's Richard Close trimmed his price target on Teladoc shares by 10%, from $40 down to $36. That doesn't mean he's giving up hope on the specialty healthcare company entirely, as he maintained his buy recommendation on the stock.

Meanwhile, Stephen Baxter of Big Four bank Wells Fargo took a deeper slice out of his Teladoc target, reducing it to $23 per share from his previous $28. He was not quite as sunny about Teladoc's future as his Cannacord peer, though. The recommendation he maintained is only equal weight -- in other words, hold.

Now what

It wasn't immediately apparent why either analyst made those changes. Yet it seems unlikely to be a coincidence that their moves came only days after Teladoc reported its fourth-quarter results. 

While the company topped analysts' consensus estimates on both the top and bottom lines, investors found its guidance wanting. For its first quarter of this year, Teladoc guided for $610 million to $625 million in revenue and a bottom-line loss of $0.50 per share. Prognosticators were expecting better -- they were modeling for $652 million in revenue and only a $0.32 per share net loss.