Steward Partners Investment Advisory LLC Trims Holdings in Teladoc Health, Inc. (NYSE:TDOC)

Teladoc Health logoSteward Partners Investment Advisory LLC cut its holdings in Teladoc Health, Inc. (NYSE:TDOC – Get Rating) by 16.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,111 shares of the health services provider’s stock after selling 811 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Teladoc Health were worth $297,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TDOC. Kinnevik AB publ purchased a new stake in shares of Teladoc Health in the 4th quarter worth about $458,235,000. Nikko Asset Management Americas Inc. grew its position in shares of Teladoc Health by 18.2% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 8,755,058 shares of the health services provider’s stock worth $809,843,000 after buying an additional 1,349,776 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Teladoc Health by 17.1% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,140,808 shares of the health services provider’s stock worth $839,309,000 after buying an additional 1,336,508 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of Teladoc Health in the 4th quarter worth about $121,570,000. Finally, ARK Investment Management LLC grew its position in shares of Teladoc Health by 2.9% in the 1st quarter. ARK Investment Management LLC now owns 19,466,931 shares of the health services provider’s stock worth $1,404,150,000 after buying an additional 544,733 shares during the period. 87.17% of the stock is owned by hedge funds and other institutional investors.

Teladoc Health Price Performance

Shares of Teladoc Health stock opened at $36.85 on Friday. The stock’s 50-day simple moving average is $35.94 and its 200-day simple moving average is $53.67. The company has a market capitalization of $5.94 billion, a price-to-earnings ratio of -0.86 and a beta of 0.79. Teladoc Health, Inc. has a 52 week low of $27.38 and a 52 week high of $156.82. The company has a quick ratio of 3.71, a current ratio of 3.94 and a debt-to-equity ratio of 0.17.

Teladoc Health (NYSE:TDOC – Get Rating) last posted its quarterly earnings results on Wednesday, April 27th. The health services provider reported ($0.47) earnings per share for the quarter, topping the consensus estimate of ($0.55) by $0.08. The business had revenue of $565.35 million during the quarter, compared to the consensus estimate of $568.91 million. Teladoc Health had a negative return on equity of 2.12% and a negative net margin of 321.94%. During the same period in the prior year, the company posted $0.13 EPS. As a group, analysts expect that Teladoc Health, Inc. will post -2.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TDOC. The Goldman Sachs Group downgraded shares of Teladoc Health from a “buy” rating to a “neutral” rating and cut their price objective for the company from $55.00 to $36.00 in a research report on Thursday. Oppenheimer cut their price objective on shares of Teladoc Health from $65.00 to $55.00 and set an “outperform” rating on the stock in a research report on Thursday. SVB Leerink cut their price objective on shares of Teladoc Health from $35.00 to $34.00 and set a “market perform” rating on the stock in a research report on Thursday. Canaccord Genuity Group cut their price objective on shares of Teladoc Health from $50.00 to $45.00 in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Teladoc Health from $44.00 to $34.00 in a research report on Friday. One equities research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $79.07.

Insider Transactions at Teladoc Health

In other Teladoc Health news, SVP Daniel Trencher sold 1,000 shares of Teladoc Health stock in a transaction on Monday, July 18th. The shares were sold at an average price of $41.12, for a total value of $41.120.00. Following the sale, the senior vice president now directly owns 27,408 shares in the company, valued at approximately $1,127,016.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Teladoc Health news, SVP Daniel Trencher sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, July 18th. The stock was sold at an average price of $41.12, for a total transaction of $41.120.00. Following the completion of the transaction, the senior vice president now owns 27,408 shares in the company, valued at approximately $1,127,016.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mala Murthy sold 4,053 shares of the stock in a transaction that occurred on Monday, June 27th. The shares were sold at an average price of $37.32, for a total value of $151,257.96. Following the transaction, the chief financial officer now owns 27,295 shares of the company’s stock, valued at $1,018,649.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,053 shares of company stock valued at $221,498. 1.55% of the stock is currently owned by corporate insiders.

About Teladoc Health

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Teladoc Health, Inc provides virtual healthcare services in the United States and internationally. The company offers a portfolio of services and solutions covering non-urgent, episodic, chronic, and complicated medical conditions, including diabetes, hypertension, chronic kidney disease, cancer, congestive heart failure, and mental health conditions.

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

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