Kestra Private Wealth Services LLC Invests $259,000 in Teladoc Health, Inc. (NYSE:TDOC)

Key Points

• Kestra Private Wealth Services LLC purchased 32,527 shares of Teladoc Health, Inc. valued at approximately $259,000 in the first quarter.
• Several institutional investors increased their stakes in Teladoc Health, with Point72 Asset Management raising its stake by 33.6% and Maple Rock Capital Partners increasing its holdings by 189.5% in the fourth quarter.
• Analysts have set a consensus target price of $9.67 for Teladoc Health, with a majority rating the stock as a "hold."

Kestra Private Wealth Services LLC bought a new position in Teladoc Health, Inc. (NYSE:TDOC - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 32,527 shares of the health services provider's stock, valued at approximately $259,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Teladoc Health by 5.9% during the 4th quarter. Vanguard Group Inc. now owns 18,463,155 shares of the health services provider's stock worth $167,830,000 after acquiring an additional 1,029,829 shares in the last quarter. Point72 Asset Management L.P. grew its stake in Teladoc Health by 33.6% in the fourth quarter. Point72 Asset Management L.P. now owns 11,179,863 shares of the health services provider's stock valued at $101,625,000 after purchasing an additional 2,813,568 shares during the last quarter. Renaissance Technologies LLC grew its stake in Teladoc Health by 15.5% in the fourth quarter. Renaissance Technologies LLC now owns 5,674,542 shares of the health services provider's stock valued at $51,582,000 after purchasing an additional 763,265 shares during the last quarter. Geode Capital Management LLC grew its stake in Teladoc Health by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 3,947,831 shares of the health services provider's stock valued at $35,894,000 after purchasing an additional 22,664 shares during the last quarter. Finally, Maple Rock Capital Partners Inc. grew its stake in Teladoc Health by 189.5% in the fourth quarter. Maple Rock Capital Partners Inc. now owns 3,561,000 shares of the health services provider's stock valued at $32,369,000 after purchasing an additional 2,331,000 shares during the last quarter. Hedge funds and other institutional investors own 76.82% of the company's stock.

Teladoc Health Price Performance

NYSE TDOC traded down $0.01 during mid-day trading on Thursday, hitting $7.40. The stock had a trading volume of 2,369,145 shares, compared to its average volume of 6,983,680. The firm's 50 day moving average is $7.70 and its 200 day moving average is $8.54. Teladoc Health, Inc. has a twelve month low of $6.35 and a twelve month high of $15.21. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.68 and a quick ratio of 1.64. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of -6.19 and a beta of 1.84.

Teladoc Health (NYSE:TDOC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The health services provider reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.08. The business had revenue of $631.90 million during the quarter, compared to analysts' expectations of $621.91 million. Teladoc Health had a negative net margin of 8.16% and a negative return on equity of 10.04%. The business's revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.38) EPS. Equities research analysts forecast that Teladoc Health, Inc. will post -1.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Carlos Nueno sold 3,958 shares of Teladoc Health stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $6.86, for a total transaction of $27,151.88. Following the sale, the insider directly owned 17,645 shares in the company, valued at $121,044.70. This trade represents a 18.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Fernando M. Rodrigues sold 4,174 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $6.91, for a total value of $28,842.34. The disclosure for this sale can be found here. Insiders have sold a total of 18,656 shares of company stock worth $128,189 in the last ninety days. 0.58% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

TDOC has been the topic of a number of research analyst reports. Evercore ISI boosted their price target on Teladoc Health from $7.00 to $8.00 and gave the stock an "in-line" rating in a research note on Wednesday, July 9th. Bank of America dropped their price target on Teladoc Health from $8.00 to $7.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 28th. Canaccord Genuity Group dropped their price target on Teladoc Health from $14.00 to $12.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Wells Fargo & Company decreased their target price on Teladoc Health from $10.00 to $8.00 and set an "equal weight" rating for the company in a report on Thursday, May 8th. Finally, Jefferies Financial Group decreased their target price on Teladoc Health from $10.00 to $8.00 and set a "hold" rating for the company in a report on Monday, April 21st. Thirteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $9.67.

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.