State of Michigan Retirement System Trims Position in Teladoc Health, Inc. (NYSE:TDOC)

State of Michigan Retirement System cut its stake in Teladoc Health, Inc. (NYSE:TDOC - Free Report) by 95.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 133,000 shares of the health services provider's stock after selling 3,030,000 shares during the quarter. State of Michigan Retirement System owned approximately 0.08% of Teladoc Health worth $2,866,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Acadian Asset Management LLC acquired a new position in shares of Teladoc Health in the first quarter valued at about $27,000. Dark Forest Capital Management LP grew its stake in Teladoc Health by 408.2% during the first quarter. Dark Forest Capital Management LP now owns 1,245 shares of the health services provider's stock worth $32,000 after buying an additional 1,000 shares in the last quarter. Tyler Stone Wealth Management acquired a new stake in Teladoc Health during the second quarter worth about $33,000. Quarry LP acquired a new stake in Teladoc Health during the first quarter worth about $35,000. Finally, IFP Advisors Inc grew its stake in Teladoc Health by 201.5% during the second quarter. IFP Advisors Inc now owns 1,969 shares of the health services provider's stock worth $50,000 after buying an additional 1,316 shares in the last quarter. 76.82% of the stock is currently owned by institutional investors and hedge funds.

Teladoc Health Stock Up 1.7 %

Shares of TDOC stock traded up $0.24 on Friday, reaching $14.49. 7,646,790 shares of the company were exchanged, compared to its average volume of 3,656,948. The company has a market cap of $2.42 billion, a price-to-earnings ratio of -10.81 and a beta of 0.94. The company has a 50-day moving average of $16.80 and a 200-day moving average of $18.26. The company has a debt-to-equity ratio of 0.66, a current ratio of 3.54 and a quick ratio of 3.47. Teladoc Health, Inc. has a one year low of $13.59 and a one year high of $30.41.

Teladoc Health (NYSE:TDOC - Get Free Report) last announced its quarterly earnings results on Tuesday, February 20th. The health services provider reported ($0.17) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.05. Teladoc Health had a negative net margin of 8.47% and a negative return on equity of 9.22%. The business had revenue of $660.50 million for the quarter, compared to analysts' expectations of $670.79 million. During the same quarter last year, the firm earned ($0.23) EPS. The firm's revenue for the quarter was up 3.6% compared to the same quarter last year. Analysts anticipate that Teladoc Health, Inc. will post -1.07 earnings per share for the current year.

Insider Activity at Teladoc Health

In other Teladoc Health news, insider Laizer Kornwasser sold 7,882 shares of Teladoc Health stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $19.18, for a total transaction of $151,176.76. Following the transaction, the insider now owns 57,223 shares of the company's stock, valued at approximately $1,097,537.14. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CAO Richard J. Napolitano sold 3,765 shares of the firm's stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $14.52, for a total transaction of $54,667.80. Following the completion of the sale, the chief accounting officer now owns 18,077 shares in the company, valued at approximately $262,478.04. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Laizer Kornwasser sold 7,882 shares of the firm's stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $19.18, for a total transaction of $151,176.76. Following the sale, the insider now owns 57,223 shares of the company's stock, valued at approximately $1,097,537.14. The disclosure for this sale can be found here. In the last quarter, insiders have sold 134,441 shares of company stock valued at $2,025,041. 1.63% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

TDOC has been the topic of a number of research analyst reports. DA Davidson reduced their price target on shares of Teladoc Health from $22.00 to $18.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 21st. Royal Bank of Canada reduced their price target on shares of Teladoc Health from $30.00 to $25.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 21st. Truist Financial reduced their price target on shares of Teladoc Health from $23.00 to $17.00 and set a "hold" rating on the stock in a research note on Wednesday, March 6th. SVB Leerink assumed coverage on shares of Teladoc Health in a report on Monday, February 26th. They issued a "market perform" rating and a $17.00 price objective for the company. Finally, Citigroup cut their target price on shares of Teladoc Health from $21.00 to $19.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 21st. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, Teladoc Health currently has an average rating of "Hold" and a consensus price target of $22.43.

Teladoc Health 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.