Deerfield Management Company L.P. Series C Buys New Shares in Teladoc Health, Inc. (NYSE:TDOC)

Deerfield Management Company L.P. Series C purchased a new position in Teladoc Health, Inc. (NYSE:TDOC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 16,965 shares of the health services provider’s stock, valued at approximately $166,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TDOC. Norges Bank acquired a new position in shares of Teladoc Health in the 4th quarter valued at $9,714,000. Parallel Advisors LLC boosted its holdings in Teladoc Health by 14.6% in the fourth quarter. Parallel Advisors LLC now owns 4,038 shares of the health services provider’s stock valued at $87,000 after acquiring an additional 515 shares during the last quarter. Allianz Asset Management GmbH grew its position in Teladoc Health by 15.4% during the fourth quarter. Allianz Asset Management GmbH now owns 604,238 shares of the health services provider’s stock valued at $13,021,000 after acquiring an additional 80,805 shares during the period. Treasurer of the State of North Carolina increased its stake in Teladoc Health by 2.2% during the fourth quarter. Treasurer of the State of North Carolina now owns 73,127 shares of the health services provider’s stock worth $1,576,000 after acquiring an additional 1,570 shares during the last quarter. Finally, Pinebridge Investments L.P. increased its stake in Teladoc Health by 83.2% during the fourth quarter. Pinebridge Investments L.P. now owns 55,428 shares of the health services provider’s stock worth $1,194,000 after acquiring an additional 25,171 shares during the last quarter. Hedge funds and other institutional investors own 76.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Truist Financial decreased their target price on Teladoc Health from $15.00 to $10.00 and set a “hold” rating for the company in a report on Friday, August 2nd. TD Cowen decreased their price objective on shares of Teladoc Health from $15.00 to $9.00 and set a “hold” rating for the company in a research note on Thursday, August 1st. DA Davidson dropped their price objective on shares of Teladoc Health from $12.00 to $8.00 and set a “neutral” rating for the company in a research report on Thursday, August 1st. Needham & Company LLC restated a “hold” rating on shares of Teladoc Health in a report on Thursday, August 1st. Finally, JPMorgan Chase & Co. decreased their price target on shares of Teladoc Health from $16.00 to $9.00 and set a “neutral” rating for the company in a research report on Monday, August 26th. Fifteen equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Teladoc Health has a consensus rating of “Hold” and an average price target of $12.31.

Insider Activity

In related news, COO Michael Willem Waters sold 6,053 shares of Teladoc Health stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $8.14, for a total value of $49,271.42. Following the completion of the transaction, the chief operating officer now directly owns 74,214 shares in the company, valued at $604,101.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Teladoc Health news, COO Michael Willem Waters sold 6,053 shares of Teladoc Health stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $8.14, for a total value of $49,271.42. Following the completion of the transaction, the chief operating officer now owns 74,214 shares of the company’s stock, valued at $604,101.96. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Vidya Raman-Tangella sold 3,857 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $8.14, for a total transaction of $31,395.98. Following the sale, the insider now directly owns 33,667 shares in the company, valued at $274,049.38. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 57,819 shares of company stock worth $442,204. 0.95% of the stock is currently owned by corporate insiders.

Teladoc Health Price Performance

TDOC stock opened at $8.46 on Friday. The stock’s 50 day moving average is $7.93 and its two-hundred day moving average is $10.65. Teladoc Health, Inc. has a 52-week low of $6.76 and a 52-week high of $22.54. The company has a market capitalization of $1.43 billion, a PE ratio of -6.00 and a beta of 0.90. The company has a quick ratio of 1.62, a current ratio of 1.66 and a debt-to-equity ratio of 0.66.

Teladoc Health (NYSE:TDOC) last issued its quarterly earnings results on Wednesday, July 31st. The health services provider reported ($0.28) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.08. Teladoc Health had a negative net margin of 38.54% and a negative return on equity of 10.25%. The business had revenue of $642.44 million during the quarter, compared to analyst estimates of $649.34 million. Analysts predict that Teladoc Health, Inc. will post -1.18 earnings per share for the current fiscal 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.