Intech Investment Management LLC Makes New Investment in Teladoc Health, Inc. (NYSE:TDOC)

Intech Investment Management LLC purchased a new position in shares of Teladoc Health, Inc. (NYSE:TDOC) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 33,719 shares of the health services provider’s stock, valued at approximately $310,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. increased its stake in Teladoc Health by 15.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,701,161 shares of the health services provider’s stock worth $15,617,000 after acquiring an additional 228,004 shares during the last quarter. Jennison Associates LLC acquired a new stake in Teladoc Health during the third quarter worth about $1,544,000. Royce & Associates LP purchased a new stake in shares of Teladoc Health in the third quarter worth about $167,000. Oppenheimer & Co. Inc. boosted its position in shares of Teladoc Health by 137.0% in the third quarter. Oppenheimer & Co. Inc. now owns 86,551 shares of the health services provider’s stock worth $795,000 after buying an additional 50,026 shares during the period. Finally, GSA Capital Partners LLP purchased a new stake in shares of Teladoc Health in the third quarter worth about $92,000. 76.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Teladoc Health

In related news, insider Carlos Nueno sold 2,389 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $11.93, for a total value of $28,500.77. Following the sale, the insider now directly owns 2,890 shares in the company, valued at $34,477.70. This trade represents a 45.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas Mckinley bought 4,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was acquired at an average price of $7.69 per share, for a total transaction of $30,760.00. Following the completion of the transaction, the director now owns 39,077 shares in the company, valued at $300,502.13. This trade represents a 11.40 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.95% of the company’s stock.

Teladoc Health Stock Up 0.6 %

Shares of Teladoc Health stock opened at $11.02 on Thursday. The company has a current ratio of 1.73, a quick ratio of 1.69 and a debt-to-equity ratio of 0.66. The business’s 50 day simple moving average is $9.48 and its 200-day simple moving average is $9.20. The stock has a market capitalization of $1.90 billion, a price-to-earnings ratio of -1.91 and a beta of 0.97. Teladoc Health, Inc. has a twelve month low of $6.76 and a twelve month high of $22.54.

Teladoc Health (NYSE:TDOC) last announced its quarterly earnings results on Wednesday, October 30th. The health services provider reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.10. The business had revenue of $640.51 million for the quarter, compared to analysts’ expectations of $630.50 million. Teladoc Health had a negative return on equity of 10.06% and a negative net margin of 37.91%. Equities research analysts forecast that Teladoc Health, Inc. will post -1.16 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TDOC. The Goldman Sachs Group began coverage on Teladoc Health in a research report on Friday, November 15th. They issued a “buy” rating and a $14.00 target price for the company. Evercore ISI upped their target price on Teladoc Health from $8.00 to $9.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 8th. Piper Sandler reaffirmed an “overweight” rating and issued a $13.00 target price (up previously from $11.00) on shares of Teladoc Health in a research report on Wednesday. Jefferies Financial Group upped their target price on Teladoc Health from $8.00 to $10.00 and gave the stock a “hold” rating in a research report on Tuesday, September 17th. Finally, Royal Bank of Canada increased their price target on Teladoc Health from $9.00 to $10.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. Fourteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Teladoc Health presently has an average rating of “Hold” and a consensus price target of $12.24.

Teladoc Health Company Profile

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.