C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Buys New Shares in Teladoc Health, Inc. (NYSE:TDOC)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new position in shares of Teladoc Health, Inc. (NYSE:TDOC - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 29,882 shares of the health services provider's stock, valued at approximately $272,000.

Other hedge funds have also recently bought and sold shares of the company. Point72 Asset Management L.P. increased its stake in shares of Teladoc Health by 57.8% in the third quarter. Point72 Asset Management L.P. now owns 8,366,295 shares of the health services provider's stock valued at $76,803,000 after buying an additional 3,063,172 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Teladoc Health in the third quarter valued at $15,801,000. Maple Rock Capital Partners Inc. acquired a new stake in shares of Teladoc Health in the third quarter valued at $11,291,000. Invenomic Capital Management LP increased its stake in shares of Teladoc Health by 155.2% in the third quarter. Invenomic Capital Management LP now owns 1,474,337 shares of the health services provider's stock valued at $13,534,000 after buying an additional 896,552 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in shares of Teladoc Health by 20,936.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 426,206 shares of the health services provider's stock valued at $3,874,000 after buying an additional 424,180 shares in the last quarter. 76.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on TDOC. The Goldman Sachs Group began coverage on Teladoc Health in a research note on Friday, November 15th. They issued a "buy" rating and a $14.00 target price for the company. Royal Bank of Canada lifted their price objective on Teladoc Health from $11.00 to $12.00 and gave the stock an "outperform" rating in a research report on Friday, January 24th. Piper Sandler reiterated an "overweight" rating and issued a $13.00 price objective (up from $11.00) on shares of Teladoc Health in a research report on Wednesday, December 4th. Oppenheimer lowered their price objective on Teladoc Health from $14.00 to $12.00 and set an "outperform" rating for the company in a research report on Friday, January 24th. Finally, Barclays lifted their price objective on Teladoc Health from $10.00 to $12.00 and gave the stock an "overweight" rating in a research report on Thursday, October 31st. Fourteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $12.08.

Insiders Place Their Bets

In other news, insider Carlos Nueno sold 2,389 shares of the firm's stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $11.93, for a total transaction of $28,500.77. Following the completion of the transaction, the insider now directly owns 2,890 shares of the company's stock, valued at $34,477.70. This trade represents a 45.25 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.95% of the company's stock.

Teladoc Health Stock Up 6.3 %

TDOC stock traded up $0.85 during mid-day trading on Monday, hitting $14.36. 20,718,368 shares of the company were exchanged, compared to its average volume of 4,791,036. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.69 and a current ratio of 1.73. The firm has a market cap of $2.47 billion, a P/E ratio of -2.49 and a beta of 1.05. The firm's 50 day simple moving average is $10.36 and its 200 day simple moving average is $9.32. Teladoc Health, Inc. has a 1-year low of $6.76 and a 1-year high of $21.74.

Teladoc Health Company 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.