Pinnacle Wealth Management LLC Makes New $442,000 Investment in Teladoc Health, Inc. $TDOC

Key Points

• Pinnacle Wealth Management LLC made a new investment of approximately $442,000 in Teladoc Health, acquiring 55,585 shares of the company in the first quarter.
• Teladoc's latest earnings report exceeded expectations, with earnings per share at ($0.19), beating the consensus estimate of ($0.27), despite a 1.6% year-over-year revenue decline.
• Analysts are projecting an average target price of $9.76 for Teladoc Health, with the stock currently holding a rating of "Hold" from twelve research analysts.

Pinnacle Wealth Management LLC purchased a new position in Teladoc Health, Inc. (NYSE:TDOC - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 55,585 shares of the health services provider's stock, valued at approximately $442,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Mercer Global Advisors Inc. ADV raised its holdings in shares of Teladoc Health by 9.6% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 12,456 shares of the health services provider's stock worth $113,000 after buying an additional 1,089 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in shares of Teladoc Health by 0.5% in the fourth quarter. Canada Pension Plan Investment Board now owns 228,700 shares of the health services provider's stock worth $2,079,000 after acquiring an additional 1,200 shares during the period. Summit Investment Advisors Inc. increased its stake in shares of Teladoc Health by 8.0% in the fourth quarter. Summit Investment Advisors Inc. now owns 18,009 shares of the health services provider's stock worth $164,000 after acquiring an additional 1,331 shares during the period. Vise Technologies Inc. increased its stake in shares of Teladoc Health by 4.9% in the fourth quarter. Vise Technologies Inc. now owns 30,179 shares of the health services provider's stock worth $274,000 after acquiring an additional 1,405 shares during the period. Finally, Westside Investment Management Inc. increased its stake 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 worth $86,000 after acquiring an additional 1,550 shares during the period. Hedge funds and other institutional investors own 76.82% of the company's stock.

Teladoc Health Stock Performance

NYSE:TDOC opened at $7.51 on Monday. The company's 50-day moving average price is $7.72 and its 200-day moving average price is $8.30. 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 company has a market cap of $1.33 billion, a P/E ratio of -6.31 and a beta of 1.76. Teladoc Health, Inc. has a twelve month low of $6.35 and a twelve month high of $15.21.

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

Insider Transactions at Teladoc Health

In other Teladoc Health news, insider Fernando M. Rodrigues sold 4,174 shares of Teladoc Health 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Carlos Nueno sold 3,958 shares of Teladoc Health stock in a transaction dated Monday, June 2nd. The stock was 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. This trade represents a 18.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,656 shares of company stock valued at $128,189. Corporate insiders own 0.58% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Evercore ISI increased their price objective on shares of Teladoc Health from $7.00 to $8.00 and gave the stock an "in-line" rating in a research note on Wednesday, July 9th. Truist Financial cut their price objective on shares of Teladoc Health from $10.00 to $9.00 and set a "hold" rating on the stock in a research note on Tuesday, May 27th. Wells Fargo & Company cut their price objective 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. Needham & Company LLC reiterated a "hold" rating on shares of Teladoc Health in a research note on Thursday, May 1st. Finally, Citigroup cut their price objective on shares of Teladoc Health from $11.00 to $8.75 and set a "neutral" rating on the stock in a research note on Friday, April 25th. Twelve equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently 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.

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