The Manufacturers Life Insurance Company Grows Position in Teladoc Health, Inc. (NYSE:TDOC)

The Manufacturers Life Insurance Company lifted its stake in Teladoc Health, Inc. (NYSE:TDOC - Free Report) by 195.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 95,307 shares of the health services provider's stock after purchasing an additional 63,028 shares during the period. The Manufacturers Life Insurance Company owned 0.06% of Teladoc Health worth $932,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Teladoc Health by 11.8% in the 4th quarter. Vanguard Group Inc. now owns 17,515,127 shares of the health services provider's stock valued at $377,451,000 after purchasing an additional 1,855,480 shares during the period. Point72 Asset Management L.P. boosted its position in Teladoc Health by 221.9% during the 2nd quarter. Point72 Asset Management L.P. now owns 5,303,123 shares of the health services provider's stock worth $51,865,000 after acquiring an additional 3,655,436 shares during the last quarter. Rubric Capital Management LP bought a new position in shares of Teladoc Health in the 2nd quarter valued at about $45,267,000. Bank of New York Mellon Corp increased its holdings in Teladoc Health by 1.7% during the second quarter. Bank of New York Mellon Corp now owns 916,129 shares of the health services provider's stock worth $8,960,000 after buying an additional 14,910 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of Teladoc Health by 9.1% in the 2nd quarter. AQR Capital Management LLC now owns 675,707 shares of the health services provider's stock valued at $6,608,000 after purchasing an additional 56,202 shares during the period. 76.82% of the stock is owned by institutional investors.

Teladoc Health Stock Down 2.2 %

Teladoc Health stock traded down $0.20 during trading on Monday, hitting $9.00. 5,615,918 shares of the company were exchanged, compared to its average volume of 5,474,268. The business's 50 day moving average is $7.90 and its 200 day moving average is $10.19. Teladoc Health, Inc. has a 52 week low of $6.76 and a 52 week high of $22.54. The company has a market capitalization of $1.53 billion, a P/E ratio of -6.30 and a beta of 0.91. The company has a current ratio of 1.66, a quick ratio of 1.62 and a debt-to-equity ratio of 0.66.

Teladoc Health (NYSE:TDOC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The health services provider reported ($0.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.36) by $0.08. Teladoc Health had a negative return on equity of 10.25% and a negative net margin of 38.54%. The business had revenue of $642.44 million during the quarter, compared to the consensus estimate of $649.34 million. Analysts predict that Teladoc Health, Inc. will post -1.18 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. DA Davidson cut their price target on Teladoc Health from $12.00 to $8.00 and set a "neutral" rating for the company in a report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft dropped their target price on Teladoc Health from $15.00 to $10.00 and set a "hold" rating for the company in a report on Friday, August 2nd. Canaccord Genuity Group decreased their price target on Teladoc Health from $25.00 to $17.00 and set a "buy" rating on the stock in a research report on Thursday, August 1st. Truist Financial decreased their price target on Teladoc Health from $15.00 to $10.00 and set a "hold" rating on the stock in a research report on Friday, August 2nd. Finally, 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 report on Tuesday, September 17th. Fifteen research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Teladoc Health currently has an average rating of "Hold" and a consensus target price of $11.81.

Insider Buying and Selling at Teladoc Health

In other news, CEO Laizer Kornwasser sold 10,879 shares of the company's stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $8.14, for a total transaction of $88,555.06. Following the transaction, the chief executive officer now owns 99,929 shares of the company's stock, valued at $813,422.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Laizer Kornwasser sold 10,879 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $8.14, for a total transaction of $88,555.06. Following the sale, the chief executive officer now owns 99,929 shares of the company's stock, valued at approximately $813,422.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Thomas Mckinley acquired 4,000 shares of the company's stock in a transaction that occurred on Thursday, September 12th. The shares were bought at an average cost of $7.69 per share, for a total transaction of $30,760.00. Following the acquisition, the director now directly owns 39,077 shares in the company, valued at $300,502.13. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 57,377 shares of company stock worth $438,054 in the last quarter. 0.95% of the stock is currently owned by company insiders.

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.