Connor Clark & Lunn Investment Management Ltd. Boosts Stake in Teladoc Health, Inc. (NYSE:TDOC)

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Teladoc Health, Inc. (NYSE:TDOC - Free Report) by 15.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,701,161 shares of the health services provider's stock after buying an additional 228,004 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.99% of Teladoc Health worth $15,617,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of TDOC. Signaturefd LLC boosted its position in Teladoc Health by 148.7% in the second quarter. Signaturefd LLC now owns 2,868 shares of the health services provider's stock worth $28,000 after purchasing an additional 1,715 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of Teladoc Health in the second quarter worth about $29,000. Blue Trust Inc. raised its stake in Teladoc Health by 84.5% during the 3rd quarter. Blue Trust Inc. now owns 4,048 shares of the health services provider's stock valued at $40,000 after purchasing an additional 1,854 shares during the period. Doheny Asset Management CA bought a new stake in Teladoc Health during the 2nd quarter valued at approximately $46,000. Finally, Benjamin F. Edwards & Company Inc. raised its stake in Teladoc Health by 209.8% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 5,015 shares of the health services provider's stock valued at $49,000 after purchasing an additional 3,396 shares during the period. 76.82% of the stock is owned by hedge funds and other institutional investors.

Teladoc Health Stock Up 7.6 %

TDOC traded up $0.68 during trading on Thursday, hitting $9.68. The stock had a trading volume of 1,555,492 shares, compared to its average volume of 5,494,698. The stock has a 50 day simple moving average of $9.00 and a two-hundred day simple moving average of $9.31. Teladoc Health, Inc. has a twelve month low of $6.76 and a twelve month high of $22.54. The company has a market capitalization of $1.67 billion, a PE ratio of -1.66 and a beta of 0.90. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.69 and a current ratio of 1.73.

Teladoc Health (NYSE:TDOC - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The health services provider reported ($0.19) earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business had revenue of $640.51 million during the quarter, compared to analysts' expectations of $630.50 million. On average, research analysts predict that Teladoc Health, Inc. will post -1.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on TDOC shares. TD Cowen decreased their target price on Teladoc Health from $9.00 to $8.00 and set a "hold" rating on the stock in a research note on Thursday, October 31st. Jefferies Financial Group lifted their target price on Teladoc Health from $8.00 to $10.00 and gave the company a "hold" rating in a research note on Tuesday, September 17th. Canaccord Genuity Group decreased their target price on Teladoc Health from $25.00 to $17.00 and set a "buy" rating on the stock in a research note on Thursday, August 1st. The Goldman Sachs Group started coverage on Teladoc Health in a research note on Friday, November 15th. They set a "buy" rating and a $14.00 target price on the stock. Finally, Piper Sandler reduced their price objective on Teladoc Health from $25.00 to $10.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 6th. Fourteen equities 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, the stock currently has a consensus rating of "Hold" and an average target price of $12.08.

Insider Activity at Teladoc Health

In other news, COO Michael Willem Waters sold 4,218 shares of Teladoc Health stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $7.16, for a total value of $30,200.88. Following the sale, the chief operating officer now owns 78,309 shares in the company, valued at $560,692.44. This trade represents a 5.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas Mckinley bought 4,000 shares of the company's stock in a transaction dated 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 transaction, the director now owns 39,077 shares of the company's stock, valued at approximately $300,502.13. This trade represents a 11.40 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 20,051 shares of company stock worth $143,565. 0.95% of the stock is owned by company 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.