Teladoc Health, Inc. (NYSE:TDOC) Shares Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Teladoc Health, Inc. (NYSE:TDOC - Free Report) by 15.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,701,161 shares of the health services provider's stock after purchasing an additional 228,004 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.99% of Teladoc Health worth $15,617,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Rubric Capital Management LP purchased a new position in shares of Teladoc Health during the second quarter worth $45,267,000. Point72 Asset Management L.P. lifted its holdings in shares of Teladoc Health by 221.9% in the 2nd quarter. Point72 Asset Management L.P. now owns 5,303,123 shares of the health services provider's stock valued at $51,865,000 after buying an additional 3,655,436 shares during the period. Clearline Capital LP boosted its stake in shares of Teladoc Health by 395.6% in the second quarter. Clearline Capital LP now owns 4,364,201 shares of the health services provider's stock worth $42,682,000 after buying an additional 3,483,665 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in Teladoc Health during the third quarter worth about $15,801,000. Finally, Mizuho Markets Americas LLC purchased a new position in Teladoc Health during the second quarter valued at approximately $3,937,000. Hedge funds and other institutional investors own 76.82% of the company's stock.

Analyst Ratings Changes

TDOC has been the subject of a number of recent analyst reports. Truist Financial cut their price objective on shares of Teladoc Health from $15.00 to $10.00 and set a "hold" rating for the company in a report on Friday, August 2nd. Cantor Fitzgerald restated an "overweight" rating and issued a $10.00 price target on shares of Teladoc Health in a research note on Tuesday, August 20th. TD Cowen dropped their price objective on Teladoc Health from $9.00 to $8.00 and set a "hold" rating on the stock in a report on Thursday, October 31st. Jefferies Financial Group upped their target price on Teladoc Health from $8.00 to $10.00 and gave the stock a "hold" rating in a research note on Tuesday, September 17th. Finally, Canaccord Genuity Group cut their price target on shares of Teladoc Health from $25.00 to $17.00 and set a "buy" rating for the company in a report on Thursday, August 1st. Fourteen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, Teladoc Health presently has an average rating of "Hold" and an average target price of $12.08.

Teladoc Health Trading Up 15.6 %

TDOC traded up $1.40 on Thursday, hitting $10.40. The company had a trading volume of 10,354,456 shares, compared to its average volume of 5,533,754. The company's fifty day moving average price is $9.05 and its 200 day moving average price is $9.31. Teladoc Health, Inc. has a 1 year low of $6.76 and a 1 year high of $22.54. The company has a current ratio of 1.73, a quick ratio of 1.69 and a debt-to-equity ratio of 0.66. The firm has a market cap of $1.79 billion, a P/E ratio of -1.80 and a beta of 0.90.

Teladoc Health (NYSE:TDOC - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The health services provider reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.10. Teladoc Health had a negative net margin of 37.91% and a negative return on equity of 10.06%. The firm had revenue of $640.51 million for the quarter, compared to analyst estimates of $630.50 million. As a group, equities analysts expect that Teladoc Health, Inc. will post -1.17 earnings per share for the current year.

Insider Activity at Teladoc Health

In other news, Director Thomas Mckinley purchased 4,000 shares of the firm's stock in a transaction that occurred on Thursday, September 12th. The stock was bought at an average price of $7.69 per share, for a total transaction of $30,760.00. Following the completion of the purchase, the director now directly owns 39,077 shares of the company's stock, valued at $300,502.13. The trade was a 11.40 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Michael Willem Waters sold 4,218 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $7.16, for a total transaction of $30,200.88. Following the completion of the sale, the chief operating officer now directly owns 78,309 shares in the company, valued at approximately $560,692.44. This represents a 5.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,051 shares of company stock worth $143,565 in the last three months. 0.95% of the stock is owned by company insiders.

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.