Truist Financial Corp reduced its stake in shares of Teladoc Health, Inc. (NYSE:TDOC – Get Rating) by 40.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,511 shares of the health services provider’s stock after selling 10,526 shares during the quarter. Truist Financial Corp’s holdings in Teladoc Health were worth $1,119,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. ARK Investment Management LLC boosted its stake in Teladoc Health by 2.9% in the first quarter. ARK Investment Management LLC now owns 19,466,931 shares of the health services provider’s stock valued at $1,404,150,000 after buying an additional 544,733 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Teladoc Health by 17.1% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,140,808 shares of the health services provider’s stock valued at $839,309,000 after buying an additional 1,336,508 shares in the last quarter. Nikko Asset Management Americas Inc. boosted its stake in Teladoc Health by 18.2% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 8,755,058 shares of the health services provider’s stock valued at $809,843,000 after buying an additional 1,349,776 shares in the last quarter. Kinnevik AB publ acquired a new stake in Teladoc Health in the fourth quarter valued at about $458,235,000. Finally, Discovery Value Fund boosted its stake in Teladoc Health by 0.5% in the fourth quarter. Discovery Value Fund now owns 2,163,209 shares of the health services provider’s stock valued at $198,626,000 after buying an additional 11,410 shares in the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
TDOC has been the topic of several research analyst reports. Bank of America raised their price objective on Teladoc Health from $36.00 to $42.00 and gave the company a “neutral” rating in a research note on Wednesday, July 6th. Piper Sandler raised their price objective on Teladoc Health from $21.00 to $42.00 in a research note on Friday, May 13th. Deutsche Bank Aktiengesellschaft cut their price target on Teladoc Health from $78.00 to $44.00 in a research note on Thursday, April 28th. Citigroup lowered Teladoc Health from a “buy” rating to a “neutral” rating and cut their price target for the company from $115.00 to $43.00 in a research note on Thursday, April 28th. Finally, William Blair lowered Teladoc Health from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 28th. One research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $85.71.
Teladoc Health Trading Down 5.7 %
NYSE TDOC opened at $41.18 on Friday. The company has a market cap of $6.64 billion, a price-to-earnings ratio of -0.96 and a beta of 0.79. Teladoc Health, Inc. has a 52 week low of $27.38 and a 52 week high of $156.82. The business has a 50 day moving average price of $35.28 and a 200-day moving average price of $54.84. The company has a quick ratio of 3.71, a current ratio of 3.94 and a debt-to-equity ratio of 0.17.
Teladoc Health (NYSE:TDOC – Get Rating) last released its quarterly earnings data on Wednesday, April 27th. The health services provider reported ($0.47) EPS for the quarter, beating the consensus estimate of ($0.55) by $0.08. The firm had revenue of $565.35 million during the quarter, compared to the consensus estimate of $568.91 million. Teladoc Health had a negative return on equity of 2.12% and a negative net margin of 321.94%. During the same quarter in the previous year, the company posted $0.13 earnings per share. As a group, equities analysts expect that Teladoc Health, Inc. will post -2.05 earnings per share for the current fiscal year.
Insider Activity
In other news, CFO Mala Murthy sold 4,053 shares of the business’s stock in a transaction that occurred on Monday, June 27th. The stock was sold at an average price of $37.32, for a total transaction of $151,257.96. Following the completion of the sale, the chief financial officer now owns 27,295 shares in the company, valued at $1,018,649.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, SVP Daniel Trencher sold 1,000 shares of Teladoc Health stock in a transaction that occurred on Friday, June 17th. The stock was sold at an average price of $29.12, for a total transaction of $29,120.00. Following the transaction, the senior vice president now owns 28,408 shares of the company’s stock, valued at $827,240.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Mala Murthy sold 4,053 shares of Teladoc Health stock in a transaction that occurred on Monday, June 27th. The shares were sold at an average price of $37.32, for a total value of $151,257.96. Following the transaction, the chief financial officer now directly owns 27,295 shares in the company, valued at approximately $1,018,649.40. The disclosure for this sale can be found here. Insiders sold a total of 6,053 shares of company stock worth $221,498 over the last quarter. 1.55% of the stock is currently owned by corporate insiders.
About Teladoc Health
Teladoc Health, Inc provides virtual healthcare services in the United States and internationally. The company offers a portfolio of services and solutions covering non-urgent, episodic, chronic, and complicated medical conditions, including diabetes, hypertension, chronic kidney disease, cancer, congestive heart failure, and mental health conditions.
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