Teladoc Health, Inc. (NYSE:TDOC) Shares Sold by Nikko Asset Management Americas Inc.

Nikko Asset Management Americas Inc. lessened its stake in shares of Teladoc Health, Inc. (NYSE:TDOC - Free Report) by 2.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 7,464,874 shares of the health services provider's stock after selling 222,772 shares during the period. Teladoc Health comprises about 1.5% of Nikko Asset Management Americas Inc.'s portfolio, making the stock its 15th largest holding. Nikko Asset Management Americas Inc. owned 4.51% of Teladoc Health worth $160,868,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of TDOC. Commonwealth Equity Services LLC lifted its holdings in shares of Teladoc Health by 5.7% in the third quarter. Commonwealth Equity Services LLC now owns 80,934 shares of the health services provider's stock valued at $1,505,000 after purchasing an additional 4,344 shares in the last quarter. Raymond James & Associates lifted its holdings in shares of Teladoc Health by 0.9% in the third quarter. Raymond James & Associates now owns 228,238 shares of the health services provider's stock valued at $4,243,000 after purchasing an additional 2,029 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Teladoc Health by 83.7% in the third quarter. Mackenzie Financial Corp now owns 30,843 shares of the health services provider's stock valued at $570,000 after purchasing an additional 14,050 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Teladoc Health by 8.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 50,903 shares of the health services provider's stock valued at $946,000 after purchasing an additional 4,129 shares in the last quarter. Finally, Triumph Capital Management purchased a new stake in shares of Teladoc Health in the third quarter valued at $320,000. Institutional investors and hedge funds own 76.82% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TDOC. Truist Financial cut their price objective on Teladoc Health from $23.00 to $17.00 and set a "hold" rating for the company in a report on Wednesday, March 6th. Leerink Partnrs reiterated a "market perform" rating on shares of Teladoc Health in a report on Monday, February 26th. Canaccord Genuity Group cut their price objective on Teladoc Health from $28.00 to $25.00 and set a "buy" rating for the company in a report on Friday, April 26th. TD Cowen cut their price objective on Teladoc Health from $16.00 to $15.00 and set a "hold" rating for the company in a report on Friday, April 26th. Finally, Cantor Fitzgerald began coverage on Teladoc Health in a report on Thursday, February 29th. They set an "overweight" rating and a $22.00 price objective for the company. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Teladoc Health presently has a consensus rating of "Hold" and a consensus price target of $18.41.

Teladoc Health Stock Down 1.3 %

Shares of NYSE:TDOC traded down $0.17 during midday trading on Friday, hitting $12.73. The company's stock had a trading volume of 3,356,134 shares, compared to its average volume of 4,878,665. The stock's 50 day simple moving average is $13.98 and its 200 day simple moving average is $17.20. Teladoc Health, Inc. has a fifty-two week low of $11.88 and a fifty-two week high of $30.41. The company has a current ratio of 3.82, a quick ratio of 3.74 and a debt-to-equity ratio of 0.67.

Teladoc Health (NYSE:TDOC - Get Free Report) last issued its quarterly earnings results on Thursday, April 25th. The health services provider reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by ($0.02). The business had revenue of $646.13 million during the quarter, compared to analyst estimates of $637.31 million. Teladoc Health had a negative net margin of 8.90% and a negative return on equity of 10.13%. The company's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.37) earnings per share. As a group, equities analysts forecast that Teladoc Health, Inc. will post -1.04 earnings per share for the current year.

Insider Activity

In related news, EVP Andrew Turitz sold 6,190 shares of Teladoc Health stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $14.52, for a total transaction of $89,878.80. Following the sale, the executive vice president now directly owns 39,429 shares of the company's stock, valued at $572,509.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Teladoc Health news, insider Arnnon Geshuri sold 7,500 shares of the firm's stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $15.06, for a total transaction of $112,950.00. Following the completion of the transaction, the insider now owns 38,470 shares in the company, valued at $579,358.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Andrew Turitz sold 6,190 shares of the firm's stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $14.52, for a total transaction of $89,878.80. Following the transaction, the executive vice president now owns 39,429 shares of the company's stock, valued at approximately $572,509.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 138,368 shares of company stock valued at $1,989,227. 0.95% of the stock is owned by insiders.

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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