Principal Financial Group Inc. Cuts Stock Holdings in Teladoc Health, Inc. (NYSE:TDOC)

Principal Financial Group Inc. cut its position in shares of Teladoc Health, Inc. (NYSE:TDOC) by 29.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,475 shares of the health services provider’s stock after selling 5,199 shares during the period. Principal Financial Group Inc.’s holdings in Teladoc Health were worth $115,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TDOC. Signaturefd LLC boosted its stake in shares of Teladoc Health by 148.7% during the 2nd quarter. Signaturefd LLC now owns 2,868 shares of the health services provider’s stock worth $28,000 after acquiring an additional 1,715 shares in the last quarter. International Assets Investment Management LLC purchased a new position in Teladoc Health during the second quarter worth approximately $29,000. Blue Trust Inc. grew its holdings in Teladoc Health by 84.5% in the third quarter. Blue Trust Inc. now owns 4,048 shares of the health services provider’s stock valued at $40,000 after purchasing an additional 1,854 shares during the period. Doheny Asset Management CA acquired a new stake in Teladoc Health in the second quarter valued at approximately $46,000. Finally, Benjamin F. Edwards & Company Inc. increased its position in shares of Teladoc Health by 209.8% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 5,015 shares of the health services provider’s stock valued at $49,000 after buying an additional 3,396 shares in the last quarter. Institutional investors and hedge funds own 76.82% of the company’s stock.

Teladoc Health Stock Performance

Shares of TDOC stock opened at $11.37 on Wednesday. The firm has a 50 day moving average of $9.18 and a two-hundred day moving average of $9.25. The stock has a market capitalization of $1.96 billion, a PE ratio of -1.97 and a beta of 0.90. The company has a quick ratio of 1.69, a current ratio of 1.73 and a debt-to-equity ratio of 0.66. Teladoc Health, Inc. has a 52 week low of $6.76 and a 52 week high of $22.54.

Teladoc Health (NYSE:TDOC) last released its earnings results on Wednesday, October 30th. The health services provider reported ($0.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.10. Teladoc Health had a negative return on equity of 10.06% and a negative net margin of 37.91%. The firm had revenue of $640.51 million during the quarter, compared to analyst estimates of $630.50 million. On average, research analysts predict that Teladoc Health, Inc. will post -1.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on TDOC shares. Jefferies Financial Group increased their target price on Teladoc Health from $8.00 to $10.00 and gave the company a “hold” rating in a research report on Tuesday, September 17th. Stifel Nicolaus dropped their target price on shares of Teladoc Health from $16.00 to $9.00 and set a “hold” rating on the stock in a research report on Thursday, August 1st. Needham & Company LLC restated a “hold” rating on shares of Teladoc Health in a research report on Thursday, August 1st. Barclays lifted their price objective on Teladoc Health from $10.00 to $12.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Finally, The Goldman Sachs Group initiated coverage on Teladoc Health in a research note on Friday, November 15th. They set a “buy” rating and a $14.00 price objective for the company. Fourteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $12.08.

Insider Activity at Teladoc Health

In other Teladoc Health news, CFO Mala Murthy sold 8,750 shares of Teladoc Health stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $7.16, for a total transaction of $62,650.00. Following the completion of the sale, the chief financial officer now directly owns 85,767 shares of the company’s stock, valued at $614,091.72. The trade was a 9.26 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Michael Willem Waters sold 4,218 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $7.16, for a total value of $30,200.88. Following the completion of the transaction, the chief operating officer now owns 78,309 shares in the company, valued at approximately $560,692.44. The trade was a 5.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,051 shares of company stock valued at $143,565 over the last 90 days. 0.95% of the stock is owned by corporate insiders.

About Teladoc Health

Teladoc Health, Inc provides virtual healthcare services worldwide. The company operates through Teladoc Health Integrated Care and BetterHelp segments. The Integrated Care segment offers virtual medical services, including general medical, expert medical, specialty medical, chronic condition management, and mental health, as well as enabling technologies and enterprise telehealth solutions for hospitals and health systems.