Wealth Enhancement Advisory Services LLC Purchases New Holdings in Teladoc Health, Inc. (NYSE:TDOC)

Wealth Enhancement Advisory Services LLC acquired a new position in shares of Teladoc Health, Inc. (NYSE:TDOC) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 12,063 shares of the health services provider’s stock, valued at approximately $111,000.

A number of other hedge funds have also recently bought and sold shares of the company. Clearline Capital LP lifted its stake in shares of Teladoc Health by 395.6% during the second quarter. Clearline Capital LP now owns 4,364,201 shares of the health services provider’s stock valued at $42,682,000 after acquiring an additional 3,483,665 shares during the period. The Manufacturers Life Insurance Company lifted its position in Teladoc Health by 195.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 95,307 shares of the health services provider’s stock valued at $932,000 after purchasing an additional 63,028 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Teladoc Health by 74.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 20,568 shares of the health services provider’s stock valued at $311,000 after purchasing an additional 8,750 shares during the last quarter. Mackenzie Financial Corp grew its position in shares of Teladoc Health by 170.7% during the 2nd quarter. Mackenzie Financial Corp now owns 107,255 shares of the health services provider’s stock worth $1,049,000 after buying an additional 67,640 shares during the period. Finally, Janney Montgomery Scott LLC raised its stake in shares of Teladoc Health by 188.7% during the first quarter. Janney Montgomery Scott LLC now owns 31,594 shares of the health services provider’s stock worth $477,000 after buying an additional 20,651 shares during the last quarter. 76.82% of the stock is currently owned by institutional investors.

Teladoc Health Price Performance

Shares of NYSE TDOC opened at $9.71 on Wednesday. The company has a fifty day moving average price of $8.79 and a 200 day moving average price of $9.44. The firm has a market cap of $1.67 billion, a PE ratio of -1.68 and a beta of 0.90. The company has a current ratio of 1.73, a quick ratio of 1.69 and a debt-to-equity ratio of 0.66. Teladoc Health, Inc. has a 1-year low of $6.76 and a 1-year high of $22.54.

Teladoc Health (NYSE:TDOC) last posted its quarterly earnings data on Wednesday, October 30th. The health services provider reported ($0.19) earnings per share (EPS) for the quarter, topping 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 business had revenue of $640.51 million during the quarter, compared to the consensus estimate of $630.50 million. Research analysts predict that Teladoc Health, Inc. will post -1.19 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Mala Murthy sold 8,750 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $7.16, for a total transaction of $62,650.00. Following the completion of the transaction, the chief financial officer now owns 85,767 shares in the company, valued at approximately $614,091.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Thomas Mckinley acquired 4,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were bought at an average price of $7.69 per share, for a total transaction of $30,760.00. Following the purchase, the director now directly owns 39,077 shares in the company, valued at approximately $300,502.13. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mala Murthy sold 8,750 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $7.16, for a total value 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 approximately $614,091.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,051 shares of company stock worth $143,565 over the last ninety days. Insiders own 0.95% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on TDOC shares. TD Cowen reduced their price objective on shares of Teladoc Health from $9.00 to $8.00 and set a “hold” rating on the stock in a research note on Thursday, October 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of Teladoc Health in a research note on Thursday, August 1st. Piper Sandler dropped their price objective on Teladoc Health from $25.00 to $10.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Canaccord Genuity Group reduced their target price on Teladoc Health from $25.00 to $17.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Finally, Truist Financial lowered their price target on Teladoc Health from $15.00 to $10.00 and set a “hold” rating for the company in a research note on Friday, August 2nd. Fourteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $11.97.

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.