Sumitomo Mitsui Trust Holdings Inc. decreased its holdings in Teladoc Health, Inc. (NYSE:TDOC - Free Report) by 2.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,474,674 shares of the health services provider's stock after selling 212,972 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 4.51% of Teladoc Health worth $161,079,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Acadian Asset Management LLC bought a new position in shares of Teladoc Health during the 1st quarter worth $27,000. Dark Forest Capital Management LP grew its position in shares of Teladoc Health by 408.2% during the 1st 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 bought a new position in shares of Teladoc Health during the 2nd quarter worth $33,000. Quarry LP bought a new position in shares of Teladoc Health during the 1st quarter worth $35,000. Finally, IFP Advisors Inc grew its position in shares of Teladoc Health by 201.5% during the 2nd 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. Hedge funds and other institutional investors own 76.82% of the company's stock.
Teladoc Health Stock Performance
Shares of NYSE:TDOC traded down $0.42 during trading on Tuesday, hitting $13.13. The stock had a trading volume of 4,866,705 shares, compared to its average volume of 4,717,169. Teladoc Health, Inc. has a 12-month low of $13.03 and a 12-month high of $30.41. The stock has a market capitalization of $2.22 billion, a price-to-earnings ratio of -9.80 and a beta of 0.94. The company has a quick ratio of 3.47, a current ratio of 3.54 and a debt-to-equity ratio of 0.66. The stock has a 50-day simple moving average of $16.02 and a two-hundred day simple moving average of $18.02.
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. The company had revenue of $660.50 million during the quarter, compared to analysts' expectations of $670.79 million. Teladoc Health had a negative return on equity of 9.22% and a negative net margin of 8.47%. Teladoc Health's quarterly revenue was up 3.6% on a year-over-year basis. During the same period last year, the business earned ($0.23) earnings per share. On average, equities research analysts expect that Teladoc Health, Inc. will post -1.07 earnings per share for the current fiscal year.
Analysts Set New Price Targets
TDOC has been the topic of a number of recent research reports. Royal Bank of Canada dropped their price objective on Teladoc Health from $30.00 to $25.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 21st. Cantor Fitzgerald initiated coverage on Teladoc Health in a research report on Thursday, February 29th. They set an "overweight" rating and a $22.00 price objective on the stock. SVB Leerink initiated coverage on Teladoc Health in a research report on Monday, February 26th. They set a "market perform" rating and a $17.00 price objective on the stock. Barclays dropped their price objective on Teladoc Health from $26.00 to $25.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 21st. Finally, Canaccord Genuity Group dropped their price objective on Teladoc Health from $34.00 to $28.00 and set a "buy" rating on the stock in a research report on Wednesday, February 21st. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $22.23.
Get Our Latest Stock Report on TDOC
Insider Activity at Teladoc Health
In other news, insider Laizer Kornwasser sold 7,882 shares of Teladoc Health stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $19.18, for a total value of $151,176.76. Following the sale, the insider now directly owns 57,223 shares of the company's stock, valued at $1,097,537.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Teladoc Health news, CAO Richard J. Napolitano sold 3,765 shares of Teladoc Health stock in a transaction on Monday, March 4th. The stock was sold at an average price of $14.52, for a total value of $54,667.80. Following the sale, the chief accounting officer now owns 18,077 shares in the company, valued at $262,478.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Laizer Kornwasser sold 7,882 shares of Teladoc Health stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $19.18, for a total value of $151,176.76. Following the completion of the sale, the insider now owns 57,223 shares in the company, valued at approximately $1,097,537.14. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 134,441 shares of company stock worth $2,025,041. 1.63% of the stock is owned by corporate insiders.
Teladoc Health Profile
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Free Report)
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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