Victory Capital Management Inc. Has $1.89 Million Stock Position in Teladoc Health, Inc. (NYSE:TDOC)

Key Points

• Victory Capital Management Inc. significantly increased its holdings in Teladoc Health by 1,037.5% during the first quarter, now owning 237,135 shares valued at approximately $1.89 million.
• Teladoc Health shares are currently trading at $7.54, reflecting an 8.1% decline recently, with a year low of $6.35 and a year high of $15.21.
• Analysts have downgraded their price targets for Teladoc, with the consensus rating now a "Hold" and an average price target of $9.67, noting downward adjustments from firms like Stifel Nicolaus and Goldman Sachs.

Victory Capital Management Inc. increased its position in Teladoc Health, Inc. (NYSE:TDOC - Free Report) by 1,037.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 237,135 shares of the health services provider's stock after purchasing an additional 216,288 shares during the period. Victory Capital Management Inc. owned 0.14% of Teladoc Health worth $1,888,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Golden State Wealth Management LLC grew its holdings in shares of Teladoc Health by 102.6% in the 1st 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 grew its holdings in Teladoc Health by 776.7% during the 4th quarter. Sterling Capital Management LLC now owns 4,629 shares of the health services provider's stock valued at $42,000 after buying an additional 4,101 shares during the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Teladoc Health during the fourth quarter worth $60,000. Westside Investment Management Inc. boosted its holdings in shares of Teladoc Health by 16.8% during the first quarter. Westside Investment Management Inc. now owns 10,750 shares of the health services provider's stock worth $86,000 after purchasing an additional 1,550 shares during the last quarter. Finally, Brucke Financial Inc. acquired a new stake in shares of Teladoc Health during the fourth quarter worth $92,000. 76.82% of the stock is owned by hedge funds and other institutional investors.

Teladoc Health Stock Performance

Shares of TDOC traded down $0.27 during trading hours on Friday, reaching $6.94. 8,689,573 shares of the company traded hands, compared to its average volume of 7,300,037. Teladoc Health, Inc. has a 1-year low of $6.35 and a 1-year high of $15.21. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.64 and a current ratio of 2.67. The stock has a market cap of $1.23 billion, a P/E ratio of -5.83 and a beta of 1.76. The stock's fifty day moving average is $7.70 and its 200 day moving average is $8.50.

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 (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.08. The firm had revenue of $631.90 million during the quarter, compared to analyst estimates 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 quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.38) earnings per share. Equities research analysts anticipate that Teladoc Health, Inc. will post -1.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on TDOC shares. Citigroup cut their target price on Teladoc Health from $11.00 to $8.75 and set a "neutral" rating on the stock in a research report on Friday, April 25th. Evercore ISI raised their price objective on Teladoc Health from $7.00 to $8.00 and gave the company an "in-line" rating in a research report on Wednesday, July 9th. Wells Fargo & Company cut their price objective on Teladoc Health from $10.00 to $8.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 8th. Mizuho started coverage on Teladoc Health in a research report on Friday, July 25th. They issued a "neutral" rating and a $10.00 price objective on the stock. Finally, Bank of America cut their price objective on Teladoc Health from $8.00 to $7.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 28th. Twelve analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, Teladoc Health currently has a consensus rating of "Hold" and an average price target of $9.76.

Insiders Place Their Bets

In other Teladoc Health news, insider Carlos Nueno sold 3,958 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 $27,151.88. Following the sale, the insider directly owned 17,645 shares in the company, valued at approximately $121,044.70. The trade was a 18.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $39,842.88. Following the completion of the sale, the insider owned 69,773 shares in the company, valued at $478,642.78. The trade was a 7.68% 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 worth $128,189. Company insiders own 0.58% of the company's stock.

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.