The Manufacturers Life Insurance Company Has $808,000 Position in Teladoc Health, Inc. (NYSE:TDOC)

The Manufacturers Life Insurance Company cut its stake in Teladoc Health, Inc. (NYSE:TDOC) by 7.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 87,996 shares of the health services provider’s stock after selling 7,311 shares during the period. The Manufacturers Life Insurance Company owned about 0.05% of Teladoc Health worth $808,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In other news, insider Carlos Nueno sold 2,389 shares of Teladoc Health stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $11.93, for a total transaction of $28,500.77. Following the transaction, the insider now owns 2,890 shares in the company, valued at $34,477.70. This trade represents a 45.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.95% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on TDOC shares. Royal Bank of Canada lifted their price target on shares of Teladoc Health from $9.00 to $10.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. The Goldman Sachs Group began coverage on shares of Teladoc Health in a research report on Friday, November 15th. They set a “buy” rating and a $14.00 price target on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $10.00 price target on shares of Teladoc Health in a research note on Tuesday, August 20th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Teladoc Health from $10.00 to $12.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Finally, TD Cowen decreased their price target on shares of Teladoc Health from $9.00 to $8.00 and set a “hold” rating for the company in a research note on Thursday, October 31st. Fourteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $12.24.

Teladoc Health Price Performance

Shares of Teladoc Health stock opened at $10.19 on Friday. The stock has a market capitalization of $1.75 billion, a price-to-earnings ratio of -1.77 and a beta of 0.97. The company has a fifty day moving average of $9.76 and a 200-day moving average of $9.19. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.69 and a current ratio of 1.73. Teladoc Health, Inc. has a 52-week low of $6.76 and a 52-week high of $22.54.

Teladoc Health (NYSE:TDOC) last announced its earnings results on Wednesday, October 30th. The health services provider reported ($0.19) 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 company had revenue of $640.51 million during the quarter, compared to the consensus estimate of $630.50 million. Equities research analysts expect that Teladoc Health, Inc. will post -1.16 EPS for the current year.

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.