Teladoc Health, Inc. (NYSE:TDOC) Shares Acquired by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp significantly increased its holdings in Teladoc Health, Inc. by 652.8% during the first quarter, acquiring a total of 81,208 shares valued at approximately $646,000.
• Insider transactions were noted, with two individuals selling shares at an average price of $6.86, leading to a notable decrease in their ownership positions.
• Despite a quarterly revenue of $631.90 million, Teladoc Health reported an EPS loss of ($0.19), slightly better than analysts' expectations.

Mackenzie Financial Corp boosted its position in Teladoc Health, Inc. (NYSE:TDOC - Free Report) by 652.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 81,208 shares of the health services provider's stock after purchasing an additional 70,420 shares during the period. Mackenzie Financial Corp's holdings in Teladoc Health were worth $646,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in TDOC. Cambridge Investment Research Advisors Inc. raised its stake in shares of Teladoc Health by 60.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 39,738 shares of the health services provider's stock worth $316,000 after buying an additional 15,030 shares in the last quarter. Golden State Wealth Management LLC grew its holdings 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. Wedmont Private Capital raised its position in Teladoc Health by 20.3% in the first quarter. Wedmont Private Capital now owns 16,086 shares of the health services provider's stock worth $117,000 after acquiring an additional 2,715 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Teladoc Health by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 3,947,831 shares of the health services provider's stock valued at $35,894,000 after acquiring an additional 22,664 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Teladoc Health by 22.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 14,725 shares of the health services provider's stock worth $134,000 after purchasing an additional 2,662 shares in the last quarter. Hedge funds and other institutional investors own 76.82% of the company's stock.

Wall Street Analysts Forecast Growth

TDOC has been the subject of a number of research analyst reports. Wells Fargo & Company cut their price target on shares of Teladoc Health from $10.00 to $8.00 and set an "equal weight" rating for the company in a report on Thursday, May 8th. The Goldman Sachs Group dropped their target price on shares of Teladoc Health from $13.00 to $10.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Evercore ISI boosted their price target on Teladoc Health from $7.00 to $8.00 and gave the stock an "in-line" rating in a research note on Wednesday, July 9th. Jefferies Financial Group lowered their price target on Teladoc Health from $10.00 to $8.00 and set a "hold" rating on the stock in a report on Monday, April 21st. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Teladoc Health in a report on Thursday, May 1st. Twelve research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $9.76.

Insider Buying and Selling

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

Teladoc Health Trading Up 0.3%

Shares of Teladoc Health stock traded up $0.02 during trading hours on Friday, reaching $6.97. 6,007,119 shares of the company's stock were exchanged, compared to its average volume of 7,044,817. Teladoc Health, Inc. has a 52-week low of $6.35 and a 52-week high of $15.21. The company has a fifty day moving average of $7.71 and a 200-day moving average of $8.44. 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 firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of -5.86 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, topping analysts' consensus estimates of ($0.27) by $0.08. The firm had revenue of $631.90 million for the quarter, compared to analyst estimates of $621.91 million. Teladoc Health had a negative return on equity of 10.13% and a negative net margin of 8.16%. During the same period last year, the company earned ($0.38) EPS. The firm's quarterly revenue was down 1.6% on a year-over-year basis. Sell-side analysts forecast that Teladoc Health, Inc. will post -1.16 EPS for the current fiscal year.

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.