Allspring Global Investments Holdings LLC Sells 42,020 Shares of Teladoc Health, Inc. (NYSE:TDOC)

Allspring Global Investments Holdings LLC lowered its holdings in Teladoc Health, Inc. (NYSE:TDOC - Free Report) by 13.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 272,471 shares of the health services provider's stock after selling 42,020 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.16% of Teladoc Health worth $2,114,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Point72 Asset Management L.P. lifted its stake in shares of 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 buying an additional 2,813,568 shares during the period. Maple Rock Capital Partners Inc. raised its position in shares of Teladoc Health by 189.5% during the 4th 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 acquiring an additional 2,331,000 shares during the last quarter. Two Sigma Investments LP bought a new stake in shares of Teladoc Health during the 4th quarter valued at $18,348,000. Two Sigma Advisers LP raised its position in shares of Teladoc Health by 213.0% during the 4th quarter. Two Sigma Advisers LP now owns 2,258,711 shares of the health services provider's stock valued at $20,532,000 after acquiring an additional 1,537,094 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in Teladoc Health by 5.9% in the fourth quarter. Vanguard Group Inc. now owns 18,463,155 shares of the health services provider's stock valued at $167,830,000 after acquiring an additional 1,029,829 shares during the period. 76.82% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Teladoc Health

In related news, insider Fernando M. Rodrigues sold 4,174 shares of the business's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $6.91, for a total value of $28,842.34. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Adam C. Vandervoort sold 5,808 shares of the business's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $6.86, for a total transaction of $39,842.88. Following the completion of the transaction, the insider owned 69,773 shares in the company, valued at approximately $478,642.78. The trade was a 7.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,656 shares of company stock worth $128,189 over the last quarter. Company insiders own 0.58% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Canaccord Genuity Group lowered their price objective on shares of Teladoc Health from $14.00 to $12.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Wells Fargo & Company cut their target price on shares of Teladoc Health from $10.00 to $8.00 and set an "equal weight" rating for the company in a research note on Thursday, May 8th. Jefferies Financial Group cut their target price on shares of Teladoc Health from $10.00 to $8.00 and set a "hold" rating for the company in a research note on Monday, April 21st. The Goldman Sachs Group lowered their price target on shares of Teladoc Health from $13.00 to $10.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Teladoc Health in a research note on Thursday, May 1st. Twelve investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Teladoc Health has a consensus rating of "Hold" and a consensus price target of $9.65.

Teladoc Health Trading Down 5.4%

Shares of NYSE:TDOC traded down $0.48 during mid-day trading on Friday, reaching $8.33. 6,740,379 shares of the company's stock were exchanged, compared to its average volume of 6,398,993. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of -1.41 and a beta of 1.84. The business's fifty day moving average price is $7.44 and its 200-day moving average price is $8.68. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.64 and a current ratio of 1.68. Teladoc Health, Inc. has a twelve month low of $6.35 and a twelve month high of $15.21.

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.