Allspring Global Investments Holdings LLC Trims Stock Holdings in Teladoc Health, Inc. (NYSE:TDOC)

Allspring Global Investments Holdings LLC lowered its position in shares of Teladoc Health, Inc. (NYSE:TDOC) by 76.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,818 shares of the health services provider’s stock after selling 39,085 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Teladoc Health were worth $255,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of TDOC. Byrne Asset Management LLC purchased a new stake in shares of Teladoc Health in the 3rd quarter worth approximately $60,000. Westside Investment Management Inc. boosted its holdings in Teladoc Health by 46.2% in the fourth quarter. Westside Investment Management Inc. now owns 4,112 shares of the health services provider’s stock worth $89,000 after acquiring an additional 1,300 shares in the last quarter. River & Mercantile Asset Management LLP purchased a new stake in shares of Teladoc Health in the third quarter worth $138,000. Skandinaviska Enskilda Banken AB publ bought a new position in shares of Teladoc Health during the third quarter valued at $158,000. Finally, Mirabella Financial Services LLP purchased a new position in shares of Teladoc Health in the 3rd quarter worth about $200,000. Institutional investors own 76.82% of the company’s stock.

Wall Street Analyst Weigh In

TDOC has been the topic of several recent analyst reports. Leerink Partnrs reissued a “market perform” rating on shares of Teladoc Health in a research report on Monday, February 26th. SVB Leerink began coverage on shares of Teladoc Health in a research report on Monday, February 26th. They set a “market perform” rating and a $17.00 price target for the company. Canaccord Genuity Group decreased their price objective on shares of Teladoc Health from $28.00 to $25.00 and set a “buy” rating for the company in a report on Friday. Oppenheimer cut their target price on Teladoc Health from $26.00 to $21.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, Citigroup decreased their price target on Teladoc Health from $21.00 to $19.00 and set a “neutral” rating for the company in a research note on Wednesday, February 21st. Eleven analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $19.67.

Insider Transactions at Teladoc Health

In related news, insider Laizer Kornwasser sold 7,882 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $19.18, for a total transaction of $151,176.76. Following the completion of the transaction, the insider now directly owns 57,223 shares in the company, valued at approximately $1,097,537.14. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Laizer Kornwasser sold 7,882 shares of Teladoc Health stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $19.18, for a total transaction of $151,176.76. Following the transaction, the insider now owns 57,223 shares in the company, valued at approximately $1,097,537.14. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Michael Willem Waters sold 4,523 shares of the company’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $19.18, for a total transaction of $86,751.14. Following the completion of the transaction, the chief operating officer now directly owns 38,570 shares of the company’s stock, valued at approximately $739,772.60. The disclosure for this sale can be found here. Insiders have sold 135,441 shares of company stock valued at $2,038,251 over the last quarter. 1.63% of the stock is currently owned by company insiders.

Teladoc Health Stock Down 2.4 %

Shares of TDOC stock opened at $13.01 on Friday. The company has a current ratio of 3.54, a quick ratio of 3.47 and a debt-to-equity ratio of 0.66. Teladoc Health, Inc. has a 12 month low of $12.65 and a 12 month high of $30.41. The stock has a market cap of $2.20 billion, a P/E ratio of -9.23 and a beta of 0.94. The company has a 50 day simple moving average of $14.85 and a two-hundred day simple moving average of $17.72.

Teladoc Health (NYSE:TDOC) last posted its quarterly earnings data on Thursday, April 25th. The health services provider reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.47) by ($0.02). The company had revenue of $646.13 million during the quarter, compared to analysts’ expectations of $637.31 million. Teladoc Health had a negative return on equity of 10.11% and a negative net margin of 8.90%. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the company earned ($0.37) earnings per share. On average, research analysts expect that Teladoc Health, Inc. will post -1.07 earnings per share for the current year.

Teladoc Health Profile

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.