Mackenzie Financial Corp Buys 70,420 Shares of Teladoc Health, Inc. (NYSE:TDOC)

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 disclosure with the Securities and Exchange Commission. The institutional investor owned 81,208 shares of the health services provider's stock after purchasing an additional 70,420 shares during the quarter. Mackenzie Financial Corp's holdings in Teladoc Health were worth $646,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in TDOC. Point72 Asset Management L.P. raised its holdings 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 holdings 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 bought a new position in Teladoc Health in the fourth quarter worth $18,348,000. Two Sigma Advisers LP grew its stake in shares of 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 acquiring an additional 1,537,094 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Teladoc Health by 15.5% in the fourth quarter. Renaissance Technologies LLC now owns 5,674,542 shares of the health services provider's stock worth $51,582,000 after acquiring an additional 763,265 shares during the last quarter. Institutional investors own 76.82% of the company's stock.

Teladoc Health Stock Performance

NYSE:TDOC traded up $0.02 on Friday, hitting $6.97. The stock had a trading volume of 6,007,119 shares, compared to its average volume of 7,890,825. The business's 50-day simple moving average is $7.71 and its two-hundred day simple moving average is $8.42. The stock has a market cap of $1.23 billion, a price-to-earnings ratio of -5.86 and a beta of 1.76. Teladoc Health, Inc. has a 52-week low of $6.35 and a 52-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.

Teladoc Health (NYSE:TDOC - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The health services provider reported ($0.19) 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 during the quarter, compared to analyst estimates of $621.91 million. During the same quarter in the prior year, the firm earned ($0.38) EPS. The business's revenue for the quarter was down 1.6% compared to the same quarter last year. As a group, research analysts predict that Teladoc Health, Inc. will post -1.16 earnings per share for the current year.

Insider Activity

In other news, insider Fernando M. Rodrigues sold 4,174 shares of the company's stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Carlos Nueno sold 3,958 shares of the company'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 sale, the insider directly owned 17,645 shares of the company's stock, valued at $121,044.70. The trade was a 18.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,656 shares of company stock valued at $128,189 in the last quarter. 0.58% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Needham & Company LLC reissued a "hold" rating on shares of Teladoc Health in a research note on Thursday, May 1st. The Goldman Sachs Group cut their target price on Teladoc Health from $13.00 to $10.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Wells Fargo & Company cut their target price on 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. Mizuho assumed coverage on Teladoc Health in a research note on Friday, July 25th. They issued a "neutral" rating and a $10.00 target price on the stock. Finally, Stifel Nicolaus cut their target price on Teladoc Health from $9.00 to $8.00 and set a "hold" rating on the stock in a research note on Thursday, May 1st. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $9.76.

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.