Renaissance Technologies LLC boosted its stake in shares of Teladoc Health, Inc. (NYSE:TDOC - Free Report) by 15.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,674,542 shares of the health services provider's stock after purchasing an additional 763,265 shares during the period. Renaissance Technologies LLC owned about 3.30% of Teladoc Health worth $51,582,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in TDOC. Vanguard Group Inc. grew its holdings in shares of Teladoc Health by 5.9% in the fourth quarter. Vanguard Group Inc. now owns 18,463,155 shares of the health services provider's stock worth $167,830,000 after acquiring an additional 1,029,829 shares during the period. Nisa Investment Advisors LLC increased its position in shares of Teladoc Health by 20,936.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 426,206 shares of the health services provider's stock valued at $3,874,000 after purchasing an additional 424,180 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Teladoc Health by 18.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,443,713 shares of the health services provider's stock worth $22,213,000 after buying an additional 384,528 shares during the last quarter. Wealthfront Advisers LLC purchased a new stake in Teladoc Health during the fourth quarter valued at approximately $3,364,000. Finally, Allspring Global Investments Holdings LLC bought a new position in Teladoc Health in the fourth quarter worth approximately $2,859,000. Institutional investors own 76.82% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on TDOC. Royal Bank of Canada raised their target price on Teladoc Health from $11.00 to $12.00 and gave the stock an "outperform" rating in a report on Friday, January 24th. Oppenheimer lowered their price objective on Teladoc Health from $14.00 to $12.00 and set an "outperform" rating on the stock in a research report on Friday, January 24th. Piper Sandler cut their price objective on Teladoc Health from $13.00 to $12.00 and set an "overweight" rating for the company in a research note on Thursday, February 27th. Needham & Company LLC restated a "hold" rating on shares of Teladoc Health in a research note on Thursday, February 27th. Finally, Bank of America dropped their price target on shares of Teladoc Health from $9.50 to $8.00 and set a "neutral" rating for the company in a research report on Friday. Eleven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $10.94.
Check Out Our Latest Stock Report on Teladoc Health
Insider Transactions at Teladoc Health
In related news, insider Adam C. Vandervoort sold 11,011 shares of the firm's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $8.42, for a total value of $92,712.62. Following the transaction, the insider now owns 64,308 shares of the company's stock, valued at $541,473.36. This trade represents a 14.62 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.95% of the company's stock.
Teladoc Health Price Performance
TDOC stock traded up $0.01 during trading on Monday, hitting $7.26. 2,476,492 shares of the company's stock traded hands, compared to its average volume of 6,241,868. The business has a fifty day simple moving average of $9.73 and a 200 day simple moving average of $9.70. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.69 and a current ratio of 1.73. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of -1.26 and a beta of 1.73. Teladoc Health, Inc. has a 52 week low of $6.61 and a 52 week high of $15.21.
Teladoc Health (NYSE:TDOC - Get Free Report) last announced its earnings results on Wednesday, February 26th. The health services provider reported ($0.28) EPS for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.07). Teladoc Health had a negative return on equity of 10.06% and a negative net margin of 37.91%. The company had revenue of $640.49 million during the quarter, compared to analysts' expectations of $639.44 million. As a group, research analysts expect that Teladoc Health, Inc. will post -1.16 EPS for the current fiscal year.
Teladoc Health Profile
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Free Report)
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.
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