Envestnet Asset Management Inc. Cuts Stock Position in Teladoc Health, Inc. (NYSE:TDOC)

Envestnet Asset Management Inc. cut its holdings in shares of Teladoc Health, Inc. (NYSE:TDOCGet Rating) by 52.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 68,221 shares of the health services provider’s stock after selling 76,239 shares during the period. Envestnet Asset Management Inc.’s holdings in Teladoc Health were worth $2,266,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of TDOC. Greenhaven Road Investment Management L.P. increased its stake in Teladoc Health by 55.0% during the first quarter. Greenhaven Road Investment Management L.P. now owns 465,000 shares of the health services provider’s stock worth $33,540,000 after purchasing an additional 165,000 shares during the period. Worldquant Millennium Advisors LLC purchased a new stake in Teladoc Health during the first quarter worth about $11,437,000. Federated Hermes Inc. increased its stake in Teladoc Health by 77.2% during the first quarter. Federated Hermes Inc. now owns 329,206 shares of the health services provider’s stock worth $23,746,000 after purchasing an additional 143,398 shares during the period. Integral Health Asset Management LLC purchased a new stake in Teladoc Health during the second quarter worth about $4,130,000. Finally, Banco Santander S.A. increased its stake in shares of Teladoc Health by 2,837.9% during the first quarter. Banco Santander S.A. now owns 104,559 shares of the health services provider’s stock worth $7,542,000 after buying an additional 101,000 shares during the period. 92.46% of the stock is currently owned by hedge funds and other institutional investors.

Teladoc Health Trading Down 3.6 %

Shares of TDOC stock opened at $29.96 on Friday. Teladoc Health, Inc. has a fifty-two week low of $23.08 and a fifty-two week high of $137.96. The stock has a market cap of $4.85 billion, a P/E ratio of -0.49 and a beta of 0.97. The business has a fifty day simple moving average of $27.92 and a 200-day simple moving average of $32.64. The company has a quick ratio of 2.99, a current ratio of 3.13 and a debt-to-equity ratio of 0.25.

Teladoc Health (NYSE:TDOCGet Rating) last announced its quarterly earnings results on Wednesday, October 26th. The health services provider reported ($0.45) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.14. The business had revenue of $611.40 million during the quarter, compared to analysts’ expectations of $609.45 million. Teladoc Health had a negative return on equity of 2.47% and a negative net margin of 424.40%. On average, analysts forecast that Teladoc Health, Inc. will post -1.4 earnings per share for the current fiscal year.

Insider Activity at Teladoc Health

In related news, insider Arnnon Geshuri sold 4,098 shares of the stock in a transaction on Friday, August 26th. The stock was sold at an average price of $34.27, for a total transaction of $140,438.46. Following the sale, the insider now owns 76,182 shares of the company’s stock, valued at $2,610,757.14. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Teladoc Health news, SVP Daniel Trencher sold 1,000 shares of the firm’s stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $30.18, for a total value of $30,180.00. Following the sale, the senior vice president now directly owns 25,408 shares of the company’s stock, valued at approximately $766,813.44. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Arnnon Geshuri sold 4,098 shares of the firm’s stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $34.27, for a total value of $140,438.46. Following the completion of the sale, the insider now directly owns 76,182 shares in the company, valued at $2,610,757.14. The disclosure for this sale can be found here. Insiders have sold a total of 6,845 shares of company stock valued at $216,314 over the last quarter. Insiders own 1.55% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Barclays cut their target price on shares of Teladoc Health from $33.00 to $32.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 27th. Cowen cut their target price on shares of Teladoc Health to $30.00 in a research note on Thursday, October 27th. StockNews.com assumed coverage on shares of Teladoc Health in a research note on Wednesday, October 12th. They set a “sell” rating on the stock. Canaccord Genuity Group cut their target price on shares of Teladoc Health from $45.00 to $43.00 in a research note on Friday, October 28th. Finally, Needham & Company LLC lowered shares of Teladoc Health from a “buy” rating to a “hold” rating in a research note on Thursday, July 28th. One equities research analyst has rated the stock with a sell rating, twenty-four have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Teladoc Health has a consensus rating of “Hold” and an average target price of $54.93.

About Teladoc Health

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Teladoc Health, Inc engages in the provision of telehealthcare services using a technology platform via mobile devices, the Internet, video and phone. Its portfolio of services and solutions covers medical subspecialties from non-urgent, episodic needs like flu and upper respiratory infections, to chronic, complicated medical conditions like cancer and congestive heart failure.

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

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