Assenagon Asset Management S.A. Acquires New Holdings in Teladoc Health, Inc. (NYSE:TDOC)

Assenagon Asset Management S.A. acquired a new stake in shares of Teladoc Health, Inc. (NYSE:TDOC) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,721,258 shares of the health services provider’s stock, valued at approximately $15,801,000.

A number of other institutional investors also recently added to or reduced their stakes in TDOC. Allspring Global Investments Holdings LLC boosted its position in Teladoc Health by 74.0% during the first 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 in the last quarter. Westside Investment Management Inc. boosted its holdings in Teladoc Health by 37.7% in the first quarter. Westside Investment Management Inc. now owns 5,662 shares of the health services provider’s stock worth $85,000 after acquiring an additional 1,550 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Teladoc Health by 33.1% in the first quarter. Principal Financial Group Inc. now owns 13,833 shares of the health services provider’s stock worth $209,000 after acquiring an additional 3,442 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Teladoc Health by 40.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 209,689 shares of the health services provider’s stock worth $3,166,000 after acquiring an additional 60,780 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its holdings in Teladoc Health by 188.7% in the first quarter. Janney Montgomery Scott LLC now owns 31,594 shares of the health services provider’s stock worth $477,000 after acquiring an additional 20,651 shares in the last quarter. Institutional investors own 76.82% of the company’s stock.

Teladoc Health Stock Down 0.3 %

Shares of TDOC stock opened at $8.57 on Friday. The stock has a 50 day moving average of $8.30 and a 200 day moving average of $9.84. The company has a current ratio of 1.66, a quick ratio of 1.62 and a debt-to-equity ratio of 0.66. The stock has a market cap of $1.45 billion, a P/E ratio of -6.08 and a beta of 0.91. 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, July 31st. The health services provider reported ($0.28) earnings per share for the quarter, beating the consensus estimate of ($0.36) by $0.08. The company had revenue of $642.44 million during the quarter, compared to analysts’ expectations of $649.34 million. Teladoc Health had a negative return on equity of 10.25% and a negative net margin of 38.54%. As a group, sell-side analysts expect that Teladoc Health, Inc. will post -1.18 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Barclays lowered their price target on Teladoc Health from $20.00 to $10.00 and set an “overweight” rating for the company in a report on Thursday, August 1st. Canaccord Genuity Group lowered their price target on Teladoc Health from $25.00 to $17.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Evercore ISI raised their price target on Teladoc Health from $8.00 to $9.00 and gave the stock an “in-line” rating in a report on Tuesday, October 8th. Needham & Company LLC reissued a “hold” rating on shares of Teladoc Health in a report on Thursday, August 1st. Finally, Stifel Nicolaus decreased their target price on Teladoc Health from $16.00 to $9.00 and set a “hold” rating for the company in a report on Thursday, August 1st. Fourteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $11.81.

Insider Activity

In other news, CMO Stephany Verstraete sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $7.60, for a total value of $114,000.00. Following the completion of the sale, the chief marketing officer now directly owns 45,158 shares in the company, valued at $343,200.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CMO Stephany Verstraete sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $7.60, for a total value of $114,000.00. Following the completion of the sale, the chief marketing officer now directly owns 45,158 shares in the company, valued at $343,200.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas Mckinley acquired 4,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was acquired at an average price of $7.69 per share, with a total value of $30,760.00. Following the completion of the transaction, the director now directly owns 39,077 shares of the company’s stock, valued at approximately $300,502.13. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 57,377 shares of company stock worth $438,054 over the last three months. 0.95% of the stock is currently 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.