Bank of New York Mellon Corp decreased its stake in Teladoc Health, Inc. (NYSE:TDOC - Free Report) by 9.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 558,664 shares of the health services provider's stock after selling 60,900 shares during the quarter. Bank of New York Mellon Corp owned 0.32% of Teladoc Health worth $5,078,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Teladoc Health by 15.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,701,161 shares of the health services provider's stock valued at $15,617,000 after buying an additional 228,004 shares during the period. Jennison Associates LLC acquired a new position in Teladoc Health in the third quarter valued at about $1,544,000. Massachusetts Financial Services Co. MA increased its holdings in shares of Teladoc Health by 477.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 370,093 shares of the health services provider's stock worth $3,397,000 after acquiring an additional 305,961 shares in the last quarter. Geode Capital Management LLC raised 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 purchasing an additional 56,864 shares during the period. Finally, Maple Rock Capital Partners Inc. bought a new position in shares of Teladoc Health during the 3rd quarter valued at about $11,291,000. Institutional investors own 76.82% of the company's stock.
Wall Street Analysts Forecast Growth
TDOC has been the topic of several research analyst reports. Royal Bank of Canada lifted their price target on shares of Teladoc Health from $11.00 to $12.00 and gave the company an "outperform" rating in a research note on Friday, January 24th. Needham & Company LLC reaffirmed a "hold" rating on shares of Teladoc Health in a research report on Thursday, February 27th. Bank of America increased their target price on Teladoc Health from $11.50 to $13.50 and gave the stock a "neutral" rating in a report on Wednesday, February 12th. Piper Sandler cut their price target on Teladoc Health from $13.00 to $12.00 and set an "overweight" rating on the stock in a report on Thursday, February 27th. Finally, The Goldman Sachs Group decreased their price objective on Teladoc Health from $16.00 to $13.00 and set a "buy" rating for the company in a report on Monday, March 3rd. Eleven analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $11.26.
Check Out Our Latest Stock Report on Teladoc Health
Teladoc Health Stock Performance
NYSE TDOC traded up $0.26 during trading on Friday, reaching $8.43. 5,401,774 shares of the company's stock were exchanged, compared to its average volume of 6,027,645. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.73 and a quick ratio of 1.69. Teladoc Health, Inc. has a fifty-two week low of $6.76 and a fifty-two week high of $15.68. The business has a 50 day moving average price of $10.45 and a 200-day moving average price of $9.72. The stock has a market capitalization of $1.46 billion, a P/E ratio of -1.46 and a beta of 1.27.
Teladoc Health (NYSE:TDOC - Get Free Report) last announced its quarterly earnings results 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). Teladoc Health had a negative net margin of 37.91% and a negative return on equity of 10.06%. The business had revenue of $640.49 million for the quarter, compared to analyst estimates of $639.44 million. Sell-side analysts forecast that Teladoc Health, Inc. will post -1.16 earnings per share for the current fiscal year.
About Teladoc Health
(
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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