Proficio Capital Partners LLC Makes New Investment in Teladoc Health, Inc. (NYSE:TDOC)

Proficio Capital Partners LLC acquired a new stake in Teladoc Health, Inc. (NYSE:TDOC - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 56,131 shares of the health services provider's stock, valued at approximately $510,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Point72 Asset Management L.P. grew its stake in Teladoc Health by 57.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 8,366,295 shares of the health services provider's stock worth $76,803,000 after purchasing an additional 3,063,172 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Teladoc Health by 1.5% during the third quarter. Geode Capital Management LLC now owns 3,925,167 shares of the health services provider's stock worth $36,042,000 after buying an additional 56,864 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Teladoc Health by 15.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,701,161 shares of the health services provider's stock worth $15,617,000 after buying an additional 228,004 shares in the last quarter. Invenomic Capital Management LP increased its stake in shares of Teladoc Health by 155.2% during the third quarter. Invenomic Capital Management LP now owns 1,474,337 shares of the health services provider's stock worth $13,534,000 after buying an additional 896,552 shares during the period. Finally, Maple Rock Capital Partners Inc. acquired a new stake in Teladoc Health in the third quarter valued at approximately $11,291,000. Hedge funds and other institutional investors own 76.82% of the company's stock.

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Teladoc Health Price Performance

Teladoc Health stock traded down $0.39 during midday trading on Thursday, reaching $8.50. 5,130,844 shares of the company were exchanged, compared to its average volume of 8,256,734. The firm's 50-day simple moving average is $10.60 and its 200-day simple moving average is $9.68. Teladoc Health, Inc. has a 1 year low of $6.76 and a 1 year high of $15.68. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of -1.47 and a beta of 1.27. 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 announced its quarterly earnings data on Wednesday, February 26th. The health services provider reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.07). The firm had revenue of $640.49 million for the quarter, compared to analysts' expectations of $639.44 million. Teladoc Health had a negative net margin of 37.91% and a negative return on equity of 10.06%. On average, analysts anticipate that Teladoc Health, Inc. will post -1.16 EPS for the current year.

Analyst Ratings Changes

TDOC has been the subject of several analyst reports. The Goldman Sachs Group lowered their price objective on Teladoc Health from $16.00 to $13.00 and set a "buy" rating for the company in a research report on Monday, March 3rd. Bank of America increased their price target on shares of Teladoc Health from $11.50 to $13.50 and gave the company a "neutral" rating in a research note on Wednesday, February 12th. Needham & Company LLC restated a "hold" rating on shares of Teladoc Health in a research report on Thursday, February 27th. Piper Sandler lowered their target price on shares of Teladoc Health from $13.00 to $12.00 and set an "overweight" rating for the company in a report on Thursday, February 27th. Finally, Oppenheimer cut their price target on shares of Teladoc Health from $14.00 to $12.00 and set an "outperform" rating on the stock in a research note on Friday, January 24th. Eleven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $11.26.

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.