California Public Employees Retirement System Lowers Stake in Teladoc Health, Inc. (NYSE:TDOC)

California Public Employees Retirement System cut its stake in Teladoc Health, Inc. (NYSE:TDOC) by 1.4% in the 4th quarter, Holdings Channel reports. The fund owned 292,269 shares of the health services provider’s stock after selling 4,108 shares during the quarter. California Public Employees Retirement System’s holdings in Teladoc Health were worth $6,298,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TDOC. ARK Investment Management LLC boosted its stake in Teladoc Health by 4.5% in the fourth quarter. ARK Investment Management LLC now owns 21,224,565 shares of the health services provider’s stock worth $457,389,000 after buying an additional 912,692 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Teladoc Health by 37.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,549,585 shares of the health services provider’s stock worth $28,807,000 after purchasing an additional 418,909 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Teladoc Health by 9.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 658,435 shares of the health services provider’s stock worth $12,240,000 after purchasing an additional 57,989 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in Teladoc Health by 49.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 453,861 shares of the health services provider’s stock worth $8,437,000 after purchasing an additional 149,976 shares during the last quarter. Finally, Swiss National Bank boosted its position in Teladoc Health by 1.0% during the third quarter. Swiss National Bank now owns 359,802 shares of the health services provider’s stock valued at $6,689,000 after buying an additional 3,600 shares during the period. 76.82% of the stock is currently owned by hedge funds and other institutional investors.

Teladoc Health Stock Performance

Teladoc Health stock opened at $12.78 on Friday. Teladoc Health, Inc. has a fifty-two week low of $12.53 and a fifty-two week high of $30.41. The stock’s 50 day simple moving average is $14.40 and its two-hundred day simple moving average is $17.51. The company has a debt-to-equity ratio of 0.67, a quick ratio of 3.47 and a current ratio of 3.82. The stock has a market cap of $2.17 billion, a price-to-earnings ratio of -9.06 and a beta of 0.97.

Teladoc Health (NYSE:TDOC) last released its earnings results on Thursday, April 25th. The health services provider reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.02). The firm had revenue of $646.13 million during the quarter, compared to analysts’ expectations of $637.31 million. Teladoc Health had a negative net margin of 8.90% and a negative return on equity of 10.13%. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.37) EPS. As a group, analysts expect that Teladoc Health, Inc. will post -1.04 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TDOC. Stifel Nicolaus lowered their target price on Teladoc Health from $21.00 to $16.00 and set a “hold” rating for the company in a research note on Friday, April 26th. Needham & Company LLC reissued a “hold” rating on shares of Teladoc Health in a research note on Friday, April 26th. Royal Bank of Canada decreased their target price on shares of Teladoc Health from $25.00 to $18.00 and set an “outperform” rating on the stock in a research note on Friday, April 26th. Citigroup lowered their price target on shares of Teladoc Health from $21.00 to $19.00 and set a “neutral” rating for the company in a report on Wednesday, February 21st. Finally, Wells Fargo & Company cut their price target on shares of Teladoc Health from $17.00 to $15.00 and set an “equal weight” rating on the stock in a report on Monday, April 29th. Twelve research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $18.73.

Insider Activity

In related news, EVP Andrew Turitz sold 6,190 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $14.52, for a total value of $89,878.80. Following the completion of the transaction, the executive vice president now directly owns 39,429 shares in the company, valued at approximately $572,509.08. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, COO Michael Willem Waters sold 5,793 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $12.69, for a total transaction of $73,513.17. Following the completion of the sale, the chief operating officer now owns 64,881 shares of the company’s stock, valued at $823,339.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Andrew Turitz sold 6,190 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $14.52, for a total value of $89,878.80. Following the completion of the transaction, the executive vice president now directly owns 39,429 shares in the company, valued at approximately $572,509.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 138,368 shares of company stock worth $1,989,227. Corporate insiders own 0.95% of the company’s stock.

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.