DnB Asset Management AS Boosts Holdings in Teladoc Health, Inc. (NYSE:TDOC)

DnB Asset Management AS increased its holdings in Teladoc Health, Inc. (NYSE:TDOCGet Rating) by 128.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 52,320 shares of the health services provider’s stock after buying an additional 29,395 shares during the quarter. DnB Asset Management AS’s holdings in Teladoc Health were worth $1,738,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. McCarthy Asset Management Inc. purchased a new position in Teladoc Health during the first quarter valued at approximately $25,000. DB Wealth Management Group LLC purchased a new position in Teladoc Health during the first quarter valued at approximately $25,000. City State Bank purchased a new position in Teladoc Health during the fourth quarter valued at approximately $27,000. Oliver Lagore Vanvalin Investment Group purchased a new position in Teladoc Health during the first quarter valued at approximately $27,000. Finally, GoalVest Advisory LLC purchased a new position in Teladoc Health during the first quarter valued at approximately $31,000. Hedge funds and other institutional investors own 92.46% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on TDOC shares. DA Davidson started coverage on shares of Teladoc Health in a report on Friday, August 12th. They set a “buy” rating and a $45.00 price target on the stock. Truist Financial assumed coverage on shares of Teladoc Health in a research report on Wednesday, September 7th. They set a “hold” rating and a $35.00 price objective on the stock. Needham & Company LLC cut shares of Teladoc Health from a “buy” rating to a “hold” rating in a research report on Thursday, July 28th. Cowen cut shares of Teladoc Health from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $58.00 to $34.00 in a research report on Tuesday, August 2nd. Finally, Cowen cut shares of Teladoc Health from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $58.00 to $34.00 in a research report on Tuesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, twenty-four have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $66.88.

Teladoc Health Stock Down 2.1 %

Shares of TDOC opened at $28.84 on Thursday. The firm has a market capitalization of $4.65 billion, a P/E ratio of -0.47 and a beta of 0.86. Teladoc Health, Inc. has a 12-month low of $27.38 and a 12-month high of $156.82. The company has a current ratio of 3.38, a quick ratio of 3.22 and a debt-to-equity ratio of 0.25. The firm has a fifty day moving average price of $35.45 and a 200-day moving average price of $43.03.

Teladoc Health (NYSE:TDOCGet Rating) last issued its earnings results on Wednesday, July 27th. The health services provider reported ($0.44) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.27. The firm had revenue of $592.38 million during the quarter, compared to analyst estimates of $586.86 million. Teladoc Health had a negative net margin of 441.94% and a negative return on equity of 2.04%. Equities research analysts expect that Teladoc Health, Inc. will post -1.54 earnings per share for the current year.

Insider Activity

In related news, CFO Mala Murthy sold 4,053 shares of the company’s stock in a transaction dated Monday, June 27th. The shares were sold at an average price of $37.32, for a total value of $151,257.96. Following the completion of the sale, the chief financial officer now directly owns 27,295 shares of the company’s stock, valued at $1,018,649.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Mala Murthy sold 4,053 shares of the company’s stock in a transaction dated Monday, June 27th. The shares were sold at an average price of $37.32, for a total value of $151,257.96. Following the completion of the sale, the chief financial officer now directly owns 27,295 shares of the company’s stock, valued at $1,018,649.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Daniel Trencher sold 1,000 shares of the company’s stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $37.50, for a total transaction of $37,500.00. Following the completion of the sale, the senior vice president now directly owns 26,408 shares of the company’s stock, valued at $990,300. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,151 shares of company stock valued at $400,496. 1.55% of the stock is currently owned by company insiders.

Teladoc Health Company Profile

(Get Rating)

Teladoc Health, Inc provides virtual healthcare services in the United States and internationally. The company offers a portfolio of services and solutions covering non-urgent, episodic, chronic, and complicated medical conditions, including diabetes, hypertension, chronic kidney disease, cancer, congestive heart failure, and mental health conditions.

Further Reading

Institutional Ownership by Quarter for Teladoc Health (NYSE:TDOC)

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