Oppenheimer & Co. Inc. Raises Position in Teladoc Health, Inc. (NYSE:TDOC)

Oppenheimer & Co. Inc. lifted its position in shares of Teladoc Health, Inc. (NYSE:TDOC) by 137.0% in the 3rd quarter, Holdings Channel.com reports. The fund owned 86,551 shares of the health services provider’s stock after buying an additional 50,026 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Teladoc Health were worth $795,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Point72 Asset Management L.P. lifted its holdings in shares of Teladoc Health by 221.9% during the second quarter. Point72 Asset Management L.P. now owns 5,303,123 shares of the health services provider’s stock valued at $51,865,000 after purchasing an additional 3,655,436 shares in the last quarter. Rubric Capital Management LP purchased a new position in shares of Teladoc Health during the second quarter valued at approximately $45,267,000. Clearline Capital LP lifted its position in 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 purchasing an additional 3,483,665 shares during the period. Assenagon Asset Management S.A. bought a new stake in Teladoc Health in the 3rd quarter worth approximately $15,801,000. Finally, Bank of New York Mellon Corp raised its stake in Teladoc Health by 1.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 916,129 shares of the health services provider’s stock valued at $8,960,000 after buying an additional 14,910 shares during the last quarter. 76.82% of the stock is owned by institutional investors.

Teladoc Health Price Performance

Teladoc Health stock opened at $8.93 on Wednesday. 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 12-month low of $6.76 and a 12-month high of $22.54. The firm has a market capitalization of $1.54 billion, a PE ratio of -1.55 and a beta of 0.90. The firm has a 50-day moving average price of $8.96 and a 200-day moving average price of $9.31.

Teladoc Health (NYSE:TDOC) last posted its quarterly earnings results on Wednesday, October 30th. The health services provider reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.10. The company had revenue of $640.51 million for the quarter, compared to the consensus estimate of $630.50 million. Teladoc Health had a negative net margin of 37.91% and a negative return on equity of 10.06%. As a group, equities research analysts forecast that Teladoc Health, Inc. will post -1.17 EPS for the current year.

Insider Transactions at Teladoc Health

In related news, Director Thomas Mckinley bought 4,000 shares of the business’s stock in a transaction on 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 completion of the purchase, the director now directly owns 39,077 shares of the company’s stock, valued at approximately $300,502.13. This trade represents a 11.40 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Michael Willem Waters sold 4,218 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $7.16, for a total transaction of $30,200.88. Following the completion of the sale, the chief operating officer now owns 78,309 shares in the company, valued at $560,692.44. This represents a 5.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,051 shares of company stock valued at $143,565. 0.95% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently commented on TDOC. Royal Bank of Canada upped their price objective on Teladoc Health from $9.00 to $10.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. dropped their price target on shares of Teladoc Health from $16.00 to $9.00 and set a “neutral” rating on the stock in a research note on Monday, August 26th. TD Cowen reduced their price objective on Teladoc Health from $9.00 to $8.00 and set a “hold” rating for the company in a research note on Thursday, October 31st. Truist Financial lowered their target price on Teladoc Health from $15.00 to $10.00 and set a “hold” rating on the stock in a research report on Friday, August 2nd. Finally, Evercore ISI upped their price target 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. Fourteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $12.08.

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.