Connor Clark & Lunn Investment Management Ltd. Increases Stock Position in 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. raised its position in Teladoc Health, Inc. (NYSE:TDOC - Free Report) by 14.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,558,369 shares of the health services provider's stock after acquiring an additional 200,494 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.89% of Teladoc Health worth $12,405,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Teladoc Health by 7.0% during the 1st quarter. Vanguard Group Inc. now owns 19,752,338 shares of the health services provider's stock worth $157,229,000 after acquiring an additional 1,289,183 shares during the period. Point72 Asset Management L.P. grew its holdings in shares of Teladoc Health by 33.6% during the 4th 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. Geode Capital Management LLC grew its holdings in shares of Teladoc Health by 0.6% during the 4th 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. Maple Rock Capital Partners Inc. grew its holdings 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 purchasing an additional 2,331,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Teladoc Health by 0.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,531,492 shares of the health services provider's stock valued at $32,104,000 after purchasing an additional 8,890 shares during the last quarter. 76.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TDOC. 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 report on Thursday, May 1st. Evercore ISI lifted their price target on shares of Teladoc Health from $7.00 to $8.00 and gave the company an "in-line" rating in a report on Wednesday, July 9th. Canaccord Genuity Group reduced their target price on shares of Teladoc Health from $14.00 to $12.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Citigroup reduced their target price on shares of Teladoc Health from $11.00 to $8.75 and set a "neutral" rating on the stock in a report on Friday, April 25th. Finally, Mizuho assumed coverage on shares of Teladoc Health in a report on Friday, July 25th. They set a "neutral" rating and a $10.00 target price on the stock. Twelve investment 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 has a consensus rating of "Hold" and an average target price of $9.76.

Teladoc Health Price Performance

Shares of Teladoc Health stock traded up $0.15 on Friday, reaching $7.45. The stock had a trading volume of 2,388,020 shares, compared to its average volume of 7,006,077. Teladoc Health, Inc. has a 1 year low of $6.35 and a 1 year high of $15.21. The company has a market cap of $1.32 billion, a P/E ratio of -6.25 and a beta of 1.76. The company has a current ratio of 2.67, a quick ratio of 2.58 and a debt-to-equity ratio of 0.70. The business's 50 day moving average is $7.71 and its two-hundred day moving average is $8.34.

Teladoc Health (NYSE:TDOC - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The health services provider reported ($0.19) earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $621.91 million. During the same period in the prior year, the firm posted ($0.38) earnings per share. The company's revenue for the quarter was down 1.6% on a year-over-year basis. As a group, research analysts anticipate that Teladoc Health, Inc. will post -1.16 EPS for the current year.

Insider Transactions at Teladoc Health

In other news, insider Fernando M. Rodrigues sold 4,174 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $6.91, for a total value of $28,842.34. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Carlos Nueno sold 3,958 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the insider directly owned 17,645 shares in the company, valued at $121,044.70. This represents a 18.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,656 shares of company stock valued at $128,189. 0.58% of the stock is currently owned by corporate insiders.

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.