CloudAlpha Capital Management Limited Hong Kong Buys Shares of 306,943 Teladoc Health, Inc. (NYSE:TDOC)

Key Points

• CloudAlpha Capital Management Limited has invested approximately $2.44 million in Teladoc Health, acquiring 306,943 shares, representing about 0.18% ownership in the company.
• Insiders sold a total of 18,656 shares of Teladoc Health stock in the last three months, indicating significant movements by company executives.
• Multiple analysts have lowered their target prices for Teladoc Health, with the average price target now at $9.65, reflecting a cautious outlook on the stock.

CloudAlpha Capital Management Limited Hong Kong bought a new position in Teladoc Health, Inc. (NYSE:TDOC - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 306,943 shares of the health services provider's stock, valued at approximately $2,443,000. CloudAlpha Capital Management Limited Hong Kong owned approximately 0.18% of Teladoc Health at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Swiss National Bank raised its position in Teladoc Health by 1.1% in the fourth quarter. Swiss National Bank now owns 336,702 shares of the health services provider's stock worth $3,061,000 after acquiring an additional 3,600 shares in the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of Teladoc Health by 35.7% during the fourth quarter. Commonwealth Equity Services LLC now owns 113,563 shares of the health services provider's stock valued at $1,032,000 after buying an additional 29,903 shares in the last quarter. Cibc World Markets Corp purchased a new position in Teladoc Health during the 4th quarter valued at about $146,000. Xponance Inc. grew its stake in Teladoc Health by 23.8% during the 4th quarter. Xponance Inc. now owns 13,861 shares of the health services provider's stock valued at $126,000 after acquiring an additional 2,661 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in Teladoc Health by 18.1% during the 4th quarter. American Century Companies Inc. now owns 209,718 shares of the health services provider's stock valued at $1,906,000 after acquiring an additional 32,213 shares in the last quarter. Institutional investors and hedge funds own 76.82% of the company's stock.

Insider Activity

In other Teladoc Health news, insider Fernando M. Rodrigues sold 4,174 shares of the stock in a transaction dated Tuesday, June 3rd. The stock was 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 stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $6.86, for a total value of $39,842.88. Following the completion of the transaction, the insider directly owned 69,773 shares in the company, valued at $478,642.78. The trade was a 7.68% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,656 shares of company stock valued at $128,189. Company insiders own 0.58% of the company's stock.

Teladoc Health Trading Down 6.0%

Shares of NYSE TDOC traded down $0.50 during midday trading on Tuesday, hitting $7.70. The stock had a trading volume of 5,664,126 shares, compared to its average volume of 6,896,744. The company's 50-day simple moving average is $7.68 and its 200 day simple moving average is $8.55. The firm has a market cap of $1.35 billion, a P/E ratio of -1.30 and a beta of 1.84. Teladoc Health, Inc. has a fifty-two week low of $6.35 and a fifty-two week 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.

Wall Street Analysts Forecast Growth

TDOC has been the topic of a number of recent research reports. Citigroup lowered their target price on Teladoc Health from $11.00 to $8.75 and set a "neutral" rating on the stock in a research note on Friday, April 25th. Bank of America decreased their target price on Teladoc Health from $8.00 to $7.00 and set a "neutral" rating for the company in a research note on Wednesday, May 28th. Needham & Company LLC reiterated a "hold" rating on shares of Teladoc Health in a research report on Thursday, May 1st. Mizuho began coverage on Teladoc Health in a research note on Friday. They issued a "neutral" rating and a $10.00 target price for the company. Finally, Wells Fargo & Company cut their target price on Teladoc Health from $10.00 to $8.00 and set an "equal weight" rating for the company in a research report on Thursday, May 8th. Thirteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Teladoc Health currently has an average rating of "Hold" and a consensus target price of $9.67.

About Teladoc Health

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.