ARK Investment Management LLC Buys 912,692 Shares of Teladoc Health, Inc. (NYSE:TDOC)

ARK Investment Management LLC grew its stake in Teladoc Health, Inc. (NYSE:TDOC) by 4.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,224,565 shares of the health services provider’s stock after acquiring an additional 912,692 shares during the quarter. Teladoc Health accounts for 2.7% of ARK Investment Management LLC’s holdings, making the stock its 12th biggest position. ARK Investment Management LLC owned 12.82% of Teladoc Health worth $457,389,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Acadian Asset Management LLC bought a new stake in Teladoc Health during the 1st quarter worth approximately $27,000. Covestor Ltd increased its stake in Teladoc Health by 1,711.7% during the 1st quarter. Covestor Ltd now owns 1,087 shares of the health services provider’s stock worth $78,000 after purchasing an additional 1,027 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in Teladoc Health by 215.5% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,161 shares of the health services provider’s stock worth $83,000 after purchasing an additional 793 shares in the last quarter. Dark Forest Capital Management LP increased its stake in Teladoc Health by 408.2% during the 1st quarter. Dark Forest Capital Management LP now owns 1,245 shares of the health services provider’s stock worth $32,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Tyler Stone Wealth Management bought a new stake in Teladoc Health during the 2nd quarter worth approximately $33,000. 76.82% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Andrew Turitz sold 6,190 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $14.52, for a total value of $89,878.80. Following the completion of the transaction, the executive vice president now owns 39,429 shares of the company’s stock, valued at $572,509.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Andrew Turitz sold 6,190 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $14.52, for a total value of $89,878.80. Following the completion of the transaction, the executive vice president now owns 39,429 shares of the company’s stock, valued at $572,509.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Daniel Trencher sold 6,780 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $14.52, for a total value of $98,445.60. Following the completion of the transaction, the insider now directly owns 28,192 shares of the company’s stock, valued at approximately $409,347.84. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 134,441 shares of company stock valued at $2,025,041. 1.63% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on TDOC shares. Royal Bank of Canada reduced their price objective on shares of Teladoc Health from $30.00 to $25.00 and set an “outperform” rating for the company in a research report on Wednesday, February 21st. Canaccord Genuity Group reduced their target price on shares of Teladoc Health from $34.00 to $28.00 and set a “buy” rating for the company in a research report on Wednesday, February 21st. Piper Sandler reduced their target price on shares of Teladoc Health from $30.00 to $25.00 and set an “overweight” rating for the company in a research report on Wednesday, February 21st. Leerink Partnrs reissued a “market perform” rating on shares of Teladoc Health in a research report on Monday, February 26th. Finally, Cantor Fitzgerald started coverage on shares of Teladoc Health in a research report on Thursday, February 29th. They issued an “overweight” rating and a $22.00 target price for the company. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $22.43.

Teladoc Health Stock Performance

Shares of NYSE TDOC opened at $15.27 on Thursday. The company has a debt-to-equity ratio of 0.66, a current ratio of 3.54 and a quick ratio of 3.47. Teladoc Health, Inc. has a 12 month low of $14.29 and a 12 month high of $30.41. The stock has a 50-day moving average price of $17.60 and a two-hundred day moving average price of $18.60.

Teladoc Health (NYSE:TDOC) last issued its earnings results on Tuesday, February 20th. The health services provider reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.05. The firm had revenue of $660.50 million during the quarter, compared to the consensus estimate of $670.79 million. Teladoc Health had a negative return on equity of 9.22% and a negative net margin of 8.47%. The business’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.23) earnings per share. As a group, equities research analysts expect that Teladoc Health, Inc. will post -1.07 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.