Commerce Bank Makes New $1.12 Million Investment in Teladoc Health, Inc. (NYSE:TDOC)

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Commerce Bank purchased a new stake in shares of Teladoc Health, Inc. (NYSE:TDOC) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 5,120 shares of the health services provider’s stock, valued at approximately $1,123,000.

Other hedge funds have also recently made changes to their positions in the company. Envestnet Asset Management Inc. lifted its holdings in shares of Teladoc Health by 34.3% during the third quarter. Envestnet Asset Management Inc. now owns 133,650 shares of the health services provider’s stock worth $29,301,000 after purchasing an additional 34,161 shares during the period. Cullen Frost Bankers Inc. acquired a new stake in Teladoc Health during the second quarter worth $99,000. IBM Retirement Fund increased its stake in Teladoc Health by 35.6% during the third quarter. IBM Retirement Fund now owns 2,340 shares of the health services provider’s stock worth $513,000 after acquiring an additional 614 shares during the last quarter. DekaBank Deutsche Girozentrale grew its stake in shares of Teladoc Health by 42.3% in the third quarter. DekaBank Deutsche Girozentrale now owns 21,638 shares of the health services provider’s stock valued at $4,718,000 after buying an additional 6,436 shares in the last quarter. Finally, Global Retirement Partners LLC grew its stake in shares of Teladoc Health by 1,000.0% in the third quarter. Global Retirement Partners LLC now owns 231 shares of the health services provider’s stock valued at $51,000 after buying an additional 210 shares in the last quarter. 87.39% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts recently commented on the company. Piper Sandler boosted their target price on Teladoc Health from $232.00 to $305.00 in a research note on Wednesday, October 28th. Oppenheimer lifted their price target on Teladoc Health from $84.00 to $250.00 and gave the stock an “outperform” rating in a report on Tuesday, September 8th. Truist reduced their target price on Teladoc Health from $282.00 to $252.00 in a report on Wednesday, November 11th. Credit Suisse Group upgraded Teladoc Health from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $225.00 to $249.00 in a research note on Monday, August 17th. Finally, KeyCorp lifted their price objective on shares of Teladoc Health from $240.00 to $245.00 and gave the company an “overweight” rating in a research report on Thursday, October 29th. Eleven research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $221.33.

Shares of TDOC stock opened at $181.87 on Thursday. The stock has a 50-day moving average price of $209.30 and a 200 day moving average price of $200.87. The company has a quick ratio of 11.36, a current ratio of 11.36 and a debt-to-equity ratio of 0.73. The firm has a market cap of $26.36 billion, a price-to-earnings ratio of -142.09 and a beta of 0.25. Teladoc Health, Inc. has a 12 month low of $75.20 and a 12 month high of $253.00.

Teladoc Health (NYSE:TDOC) last issued its earnings results on Wednesday, October 28th. The health services provider reported ($0.43) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.33) by ($0.10). Teladoc Health had a negative return on equity of 9.54% and a negative net margin of 13.22%. The company had revenue of $288.81 million for the quarter, compared to the consensus estimate of $281.54 million. Sell-side analysts predict that Teladoc Health, Inc. will post -1.4 earnings per share for the current fiscal year.

In other news, SVP Andrew Turitz sold 717 shares of Teladoc Health stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $225.00, for a total transaction of $161,325.00. Following the transaction, the senior vice president now owns 4,732 shares in the company, valued at approximately $1,064,700. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William H. Frist sold 740 shares of Teladoc Health stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $196.78, for a total value of $145,617.20. Following the transaction, the director now owns 6,158 shares in the company, valued at approximately $1,211,771.24. The disclosure for this sale can be found here. Insiders have sold a total of 51,570 shares of company stock worth $11,274,671 in the last quarter. 3.42% of the stock is currently owned by company insiders.

About Teladoc Health

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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Institutional Ownership by Quarter for Teladoc Health (NYSE:TDOC)

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