Jennison Associates LLC Sells 41,148 Shares of Teladoc Health, Inc. (NYSE:TDOC)

Jennison Associates LLC lessened its position in Teladoc Health, Inc. (NYSE:TDOC - Free Report) by 24.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 127,018 shares of the health services provider's stock after selling 41,148 shares during the quarter. Jennison Associates LLC owned approximately 0.07% of Teladoc Health worth $1,155,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Versant Capital Management Inc lifted its position in Teladoc Health by 313.8% during the fourth quarter. Versant Capital Management Inc now owns 3,219 shares of the health services provider's stock valued at $29,000 after buying an additional 2,441 shares during the period. Blue Trust Inc. lifted its position 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 acquiring an additional 1,854 shares during the period. Signaturefd LLC lifted its position in Teladoc Health by 162.7% during the 3rd quarter. Signaturefd LLC now owns 7,535 shares of the health services provider's stock valued at $69,000 after acquiring an additional 4,667 shares during the period. KBC Group NV boosted its stake in Teladoc Health by 72.3% during the fourth quarter. KBC Group NV now owns 8,849 shares of the health services provider's stock worth $80,000 after acquiring an additional 3,714 shares in the last quarter. Finally, Westside Investment Management Inc. grew its holdings in Teladoc Health by 43.8% in the fourth quarter. Westside Investment Management Inc. now owns 9,200 shares of the health services provider's stock worth $84,000 after purchasing an additional 2,800 shares during the period. 76.82% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Carlos Nueno sold 2,389 shares of the company's stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $11.93, for a total value of $28,500.77. Following the completion of the sale, the insider now directly owns 2,890 shares in the company, valued at $34,477.70. This represents a 45.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.95% of the company's stock.

Teladoc Health Stock Performance

Shares of TDOC stock traded up $0.91 on Monday, reaching $13.86. The stock had a trading volume of 17,103,927 shares, compared to its average volume of 5,612,777. The stock has a market cap of $2.39 billion, a P/E ratio of -2.40 and a beta of 1.05. 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, Inc. has a 1 year low of $6.76 and a 1 year high of $21.74. The company has a 50 day simple moving average of $10.09 and a 200 day simple moving average of $9.17.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Teladoc Health from $10.00 to $12.00 and gave the company a "hold" rating in a report on Friday, November 1st. TD Cowen lowered their price objective on Teladoc Health from $9.00 to $8.00 and set a "hold" rating for the company in a research note on Thursday, October 31st. Bank of America increased their target price on Teladoc Health from $10.50 to $11.50 and gave the stock a "neutral" rating in a research note on Thursday. Piper Sandler reaffirmed an "overweight" rating and issued a $13.00 price target (up previously from $11.00) on shares of Teladoc Health in a research report on Wednesday, December 4th. Finally, Royal Bank of Canada increased their price objective on shares of Teladoc Health from $11.00 to $12.00 and gave the company an "outperform" rating in a research report on Friday, January 24th. Fourteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $11.97.

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.