Renaissance Technologies LLC Decreases Holdings in Teladoc Health, Inc. (NYSE:TDOC)

Renaissance Technologies LLC lowered its holdings in shares of Teladoc Health, Inc. (NYSE:TDOC - Free Report) by 1.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,469,784 shares of the health services provider's stock after selling 63,719 shares during the period. Renaissance Technologies LLC owned approximately 3.19% of Teladoc Health worth $53,494,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Allianz Asset Management GmbH increased its position in shares of Teladoc Health by 15.4% during the fourth quarter. Allianz Asset Management GmbH now owns 604,238 shares of the health services provider's stock valued at $13,021,000 after acquiring an additional 80,805 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Teladoc Health by 74.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 20,568 shares of the health services provider's stock worth $311,000 after purchasing an additional 8,750 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Teladoc Health by 188.7% during the first quarter. Janney Montgomery Scott LLC now owns 31,594 shares of the health services provider's stock valued at $477,000 after purchasing an additional 20,651 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Teladoc Health by 11.8% during the fourth quarter. Vanguard Group Inc. now owns 17,515,127 shares of the health services provider's stock valued at $377,451,000 after buying an additional 1,855,480 shares during the last quarter. Finally, Pale Fire Capital SE purchased a new stake in shares of Teladoc Health during the fourth quarter valued at $8,960,000. Hedge funds and other institutional investors own 76.82% of the company's stock.

Insiders Place Their Bets

In other Teladoc Health news, Director Thomas Mckinley purchased 4,000 shares of Teladoc Health stock in a transaction on Thursday, September 12th. The stock was bought at an average cost of $7.69 per share, with a total value 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Vidya Raman-Tangella sold 3,857 shares of Teladoc Health stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $8.14, for a total transaction of $31,395.98. Following the completion of the transaction, the insider now directly owns 33,667 shares in the company, valued at $274,049.38. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Thomas Mckinley purchased 4,000 shares of the firm's stock in a transaction on Thursday, September 12th. The stock was bought at an average cost of $7.69 per share, with a total value of $30,760.00. Following the completion of the acquisition, the director now directly owns 39,077 shares of the company's stock, valued at approximately $300,502.13. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 57,819 shares of company stock valued at $442,204. Insiders own 0.95% of the company's stock.

Teladoc Health Stock Performance

Shares of TDOC remained flat at $9.11 during midday trading on Wednesday. The stock had a trading volume of 9,579,165 shares, compared to its average volume of 5,546,881. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.66 and a quick ratio of 1.62. The firm has a 50 day moving average price of $8.05 and a 200 day moving average price of $10.98. The company has a market capitalization of $1.54 billion, a P/E ratio of -6.64 and a beta of 0.90. Teladoc Health, Inc. has a fifty-two week low of $6.76 and a fifty-two week high of $22.54.

Teladoc Health (NYSE:TDOC - Get Free Report) last announced its earnings results on Wednesday, July 31st. The health services provider reported ($0.28) EPS for the quarter, topping analysts' consensus estimates of ($0.36) by $0.08. The business had revenue of $642.44 million during the quarter, compared to the consensus estimate of $649.34 million. Teladoc Health had a negative net margin of 38.54% and a negative return on equity of 10.25%. On average, sell-side analysts expect that Teladoc Health, Inc. will post -0.73 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on TDOC shares. JPMorgan Chase & Co. decreased their target price on Teladoc Health from $16.00 to $9.00 and set a "neutral" rating on the stock in a report on Monday, August 26th. Needham & Company LLC reaffirmed a "hold" rating on shares of Teladoc Health in a research report on Thursday, August 1st. Truist Financial reduced their target price 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. TD Cowen lowered their price target on shares of Teladoc Health from $15.00 to $9.00 and set a "hold" rating on the stock in a report on Thursday, August 1st. Finally, DA Davidson dropped their price target on shares of Teladoc Health from $12.00 to $8.00 and set a "neutral" rating for the company in a research report on Thursday, August 1st. Fifteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $12.31.

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.