Connor Clark & Lunn Investment Management Ltd. Acquires 200,494 Shares of Teladoc Health, Inc. (NYSE:TDOC)

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in Teladoc Health by 14.8%, owning approximately 1.56 million shares valued at $12.4 million as of its recent SEC filing.
• Analysts have mixed views on Teladoc Health, with target prices ranging from $7.00 to $14.00, and a consensus rating of "Hold" with an average target price of $9.76.
• Insider trading activity was noted as insiders sold a total of 18,656 shares in the last quarter, which may signal concerns or strategic shifts regarding the company's performance.

Connor Clark & Lunn Investment Management Ltd. lifted its stake in Teladoc Health, Inc. (NYSE:TDOC - Free Report) by 14.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,558,369 shares of the health services provider's stock after buying an additional 200,494 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.89% of Teladoc Health worth $12,405,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in TDOC. Point72 Asset Management L.P. raised its position 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 worth $101,625,000 after purchasing an additional 2,813,568 shares in the last quarter. Maple Rock Capital Partners Inc. raised its position 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 worth $32,369,000 after purchasing an additional 2,331,000 shares in the last quarter. Two Sigma Investments LP acquired a new position in Teladoc Health in the fourth quarter worth about $18,348,000. Two Sigma Advisers LP raised its position in Teladoc Health by 213.0% in the fourth quarter. Two Sigma Advisers LP now owns 2,258,711 shares of the health services provider's stock worth $20,532,000 after purchasing an additional 1,537,094 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Teladoc Health by 7.0% in the first quarter. Vanguard Group Inc. now owns 19,752,338 shares of the health services provider's stock worth $157,229,000 after purchasing an additional 1,289,183 shares in the last quarter. Institutional investors own 76.82% of the company's stock.

Teladoc Health Stock Down 2.1%

Shares of NYSE:TDOC traded down $0.16 during midday trading on Thursday, reaching $7.29. 4,411,868 shares of the company were exchanged, compared to its average volume of 7,031,799. 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 quick ratio of 2.58, a current ratio of 2.67 and a debt-to-equity ratio of 0.70. The stock has a fifty day simple moving average of $7.71 and a two-hundred day simple moving average of $8.36. The firm has a market cap of $1.29 billion, a PE ratio of -6.12 and a beta of 1.76.

Teladoc Health (NYSE:TDOC - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The health services provider reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.08. Teladoc Health had a negative net margin of 8.16% and a negative return on equity of 10.13%. The firm had revenue of $631.90 million for the quarter, compared to analyst estimates of $621.91 million. During the same period in the previous year, the business earned ($0.38) EPS. The company's revenue was down 1.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Teladoc Health, Inc. will post -1.16 earnings per share for the current year.

Analysts Set New Price Targets

TDOC has been the subject of several recent research reports. Stifel Nicolaus dropped their price target on shares of Teladoc Health from $9.00 to $8.00 and set a "hold" rating for the company in a research report on Thursday, May 1st. The Goldman Sachs Group decreased their price target on shares of Teladoc Health from $13.00 to $10.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Canaccord Genuity Group decreased their price target on shares of Teladoc Health from $14.00 to $12.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Jefferies Financial Group decreased their price target on shares of Teladoc Health from $10.00 to $8.00 and set a "hold" rating on the stock in a research note on Monday, April 21st. Finally, Wells Fargo & Company decreased their price target on shares of Teladoc Health from $10.00 to $8.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 8th. Twelve research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $9.76.

Insider Transactions at Teladoc Health

In other news, insider Carlos Nueno sold 3,958 shares of the business's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $6.86, for a total transaction of $27,151.88. Following the transaction, the insider directly owned 17,645 shares in the company, valued at $121,044.70. The trade was a 18.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Adam C. Vandervoort sold 5,808 shares of the business's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $6.86, for a total transaction of $39,842.88. Following the transaction, the insider owned 69,773 shares in the company, valued at $478,642.78. This represents a 7.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,656 shares of company stock worth $128,189 in the last ninety days. Insiders own 0.58% of the company's stock.

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.