Equitable Trust Co. Takes $484,000 Position in Teladoc Health, Inc. (NYSE:TDOC)

Key Points

• Equitable Trust Co. has acquired 60,772 shares of Teladoc Health, valued at approximately $484,000, marking a new investment during the 1st quarter.
• Hedge funds and institutional investors collectively own 76.82% of Teladoc Health's stock, with significant increases in holdings noted from several firms.
• Analyst ratings for Teladoc Health have varied, with a consensus of "Hold" and average target price of $9.67 as of early May.

Equitable Trust Co. purchased a new position in shares of Teladoc Health, Inc. (NYSE:TDOC - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 60,772 shares of the health services provider's stock, valued at approximately $484,000.

Other large investors have also modified their holdings of the company. Golden State Wealth Management LLC raised its stake in Teladoc Health by 102.6% during the first quarter. Golden State Wealth Management LLC now owns 3,337 shares of the health services provider's stock worth $27,000 after acquiring an additional 1,690 shares during the period. Sterling Capital Management LLC increased its stake in shares of Teladoc Health by 776.7% in the fourth quarter. Sterling Capital Management LLC now owns 4,629 shares of the health services provider's stock valued at $42,000 after purchasing an additional 4,101 shares during the period. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Teladoc Health in the fourth quarter valued at approximately $60,000. Westside Investment Management Inc. boosted its holdings in shares of Teladoc Health by 16.8% in the first quarter. Westside Investment Management Inc. now owns 10,750 shares of the health services provider's stock valued at $86,000 after acquiring an additional 1,550 shares in the last quarter. Finally, Brucke Financial Inc. bought a new position in shares of Teladoc Health in the fourth quarter valued at approximately $92,000. Institutional investors own 76.82% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on TDOC shares. Bank of America decreased their price objective on shares of Teladoc Health from $8.00 to $7.00 and set a "neutral" rating for the company in a report on Wednesday, May 28th. Evercore ISI increased their price objective 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. Citigroup decreased their price objective on shares of Teladoc Health from $11.00 to $8.75 and set a "neutral" rating for the company in a report on Friday, April 25th. 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 for the company. Finally, Truist Financial reduced their target price on shares of Teladoc Health from $10.00 to $9.00 and set a "hold" rating for the company in a report on Tuesday, May 27th. Thirteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Teladoc Health has a consensus rating of "Hold" and a consensus target price of $9.67.

Teladoc Health Stock Up 1.8%

TDOC stock traded up $0.14 during midday trading on Wednesday, reaching $7.67. The company had a trading volume of 5,193,741 shares, compared to its average volume of 6,946,052. Teladoc Health, Inc. has a 1 year low of $6.35 and a 1 year high of $15.21. The company has a current ratio of 1.68, a quick ratio of 1.64 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $1.34 billion, a P/E ratio of -1.29 and a beta of 1.84. The company has a 50 day moving average of $7.69 and a two-hundred day moving average of $8.55.

Teladoc Health (NYSE:TDOC - Get Free Report) last released its 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 39.66% and a negative return on equity of 11.01%. The company had revenue of $631.90 million during the quarter, compared to the consensus estimate of $621.91 million. During the same quarter in the prior year, the firm earned ($0.38) EPS. The company's revenue was down 1.6% compared to the same quarter last year. On average, equities research analysts expect that Teladoc Health, Inc. will post -1.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Fernando M. Rodrigues sold 4,174 shares of the firm's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $6.91, for a total transaction of $28,842.34. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Carlos Nueno sold 3,958 shares of the firm'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 $27,151.88. Following the transaction, the insider owned 17,645 shares in the company, valued at $121,044.70. This represents a 18.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,656 shares of company stock worth $128,189 in the last quarter. 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.