Kestra Private Wealth Services LLC bought a new position in Teladoc Health, Inc. (NYSE:TDOC) during the 3rd quarter, Holdings Channel reports. The fund bought 2,276 shares of the health services provider’s stock, valued at approximately $499,000.
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Envestnet Asset Management Inc. boosted its position in Teladoc Health by 34.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 133,650 shares of the health services provider’s stock valued at $29,301,000 after acquiring an additional 34,161 shares in the last quarter. Cullen Frost Bankers Inc. bought a new stake in Teladoc Health during the 2nd quarter valued at approximately $99,000. IBM Retirement Fund boosted its position in Teladoc Health by 35.6% during the 3rd quarter. IBM Retirement Fund now owns 2,340 shares of the health services provider’s stock valued at $513,000 after acquiring an additional 614 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its position in Teladoc Health by 42.3% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 21,638 shares of the health services provider’s stock valued at $4,718,000 after acquiring an additional 6,436 shares in the last quarter. Finally, Global Retirement Partners LLC boosted its position in Teladoc Health by 1,000.0% during the 3rd quarter. Global Retirement Partners LLC now owns 231 shares of the health services provider’s stock valued at $51,000 after acquiring an additional 210 shares in the last quarter. 87.39% of the stock is currently owned by institutional investors.
Several research firms have weighed in on TDOC. Deutsche Bank Aktiengesellschaft lifted their price objective on Teladoc Health from $239.00 to $244.00 and gave the company a “buy” rating in a research report on Thursday, October 29th. Berenberg Bank raised Teladoc Health from a “hold” rating to a “buy” rating and set a $252.00 price objective on the stock in a research report on Wednesday, September 2nd. Barclays lifted their target price on shares of Teladoc Health from $200.00 to $230.00 and gave the company an “equal weight” rating in a report on Thursday, July 30th. Canaccord Genuity lifted their target price on shares of Teladoc Health from $255.00 to $261.00 and gave the company a “buy” rating in a report on Thursday, October 29th. Finally, Credit Suisse Group upgraded shares of Teladoc Health from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $225.00 to $249.00 in a report on Monday, August 17th. Eleven investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Teladoc Health currently has a consensus rating of “Buy” and a consensus target price of $221.33.
Shares of TDOC stock opened at $181.87 on Thursday. Teladoc Health, Inc. has a 1 year low of $75.20 and a 1 year high of $253.00. The firm has a fifty day moving average price of $209.30 and a 200-day moving average price of $200.87. The company has a debt-to-equity ratio of 0.73, a current ratio of 11.36 and a quick ratio of 11.36. The company has a market cap of $26.36 billion, a price-to-earnings ratio of -142.09 and a beta of 0.25.
Teladoc Health (NYSE:TDOC) last issued its quarterly earnings data on Wednesday, October 28th. The health services provider reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.10). Teladoc Health had a negative net margin of 13.22% and a negative return on equity of 9.54%. The business had revenue of $288.81 million for the quarter, compared to the consensus estimate of $281.54 million. Equities research analysts expect that Teladoc Health, Inc. will post -1.4 EPS for the current year.
In related news, CEO Jason N. Gorevic sold 30,000 shares of the company’s stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $222.26, for a total value of $6,667,800.00. Following the completion of the transaction, the chief executive officer now owns 697,283 shares of the company’s stock, valued at approximately $154,978,119.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Adam C. Vandervoort sold 2,612 shares of the company’s stock in a transaction on Tuesday, November 3rd. The stock was sold at an average price of $192.00, for a total transaction of $501,504.00. Following the completion of the transaction, the insider now directly owns 1,647 shares of the company’s stock, valued at approximately $316,224. The disclosure for this sale can be found here. Insiders sold a total of 51,570 shares of company stock valued at $11,274,671 in the last ninety days. 3.42% of the stock is currently owned by insiders.
Teladoc Health Company Profile
Teladoc Health, Inc provides virtual healthcare services on a business-to-business basis in the United States and internationally. It covers various clinical conditions, including non-critical, episodic care, chronic, and complicated cases like cancer and congestive heart failure, as well as offers telehealth solutions, expert medical services, behavioral health solutions, guidance and support, and platform and program services.
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