Allianz Asset Management GmbH Raises Stock Holdings in Teladoc Health, Inc. (NYSE:TDOC)

Allianz Asset Management GmbH raised its position in shares of Teladoc Health, Inc. (NYSE:TDOC) by 105.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 20,700 shares of the health services provider’s stock after purchasing an additional 10,600 shares during the quarter. Allianz Asset Management GmbH’s holdings in Teladoc Health were worth $165,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of TDOC. Kestra Private Wealth Services LLC acquired a new stake in shares of Teladoc Health during the first quarter worth about $259,000. Victory Capital Management Inc. raised its position in Teladoc Health by 1,037.5% during the 1st quarter. Victory Capital Management Inc. now owns 237,135 shares of the health services provider’s stock worth $1,888,000 after buying an additional 216,288 shares during the last quarter. Cerity Partners LLC raised its position in Teladoc Health by 118.8% during the 1st quarter. Cerity Partners LLC now owns 25,123 shares of the health services provider’s stock worth $200,000 after buying an additional 13,642 shares during the last quarter. Teacher Retirement System of Texas acquired a new stake in Teladoc Health during the 1st quarter valued at approximately $200,000. Finally, Summit Trail Advisors LLC boosted its holdings in shares of Teladoc Health by 77.0% in the 1st quarter. Summit Trail Advisors LLC now owns 17,978 shares of the health services provider’s stock valued at $143,000 after acquiring an additional 7,819 shares during the last quarter. 76.82% of the stock is owned by institutional investors and hedge funds.

Teladoc Health Trading Up 0.6%

Shares of TDOC opened at $6.98 on Tuesday. Teladoc Health, Inc. has a 52-week low of $6.35 and a 52-week high of $15.21. The stock has a market cap of $1.23 billion, a PE ratio of -5.87 and a beta of 1.76. The firm’s fifty day moving average is $7.71 and its two-hundred day moving average is $8.48. The company has a quick ratio of 2.58, a current ratio of 2.67 and a debt-to-equity ratio of 0.70.

Teladoc Health (NYSE:TDOC) last posted its quarterly earnings results on Tuesday, July 29th. The health services provider reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.08. The firm had revenue of $631.90 million for the quarter, compared to the consensus estimate of $621.91 million. Teladoc Health had a negative net margin of 8.16% and a negative return on equity of 10.13%. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period last year, the firm posted ($0.38) earnings per share. Research analysts forecast that Teladoc Health, Inc. will post -1.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on TDOC shares. Canaccord Genuity Group reduced their target price on shares of Teladoc Health from $14.00 to $12.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Mizuho started coverage on Teladoc Health in a research report on Friday, July 25th. They set a “neutral” rating and a $10.00 price target on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Teladoc Health in a research note on Thursday, May 1st. The Goldman Sachs Group lowered their target price on Teladoc Health from $13.00 to $10.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Finally, Wells Fargo & Company dropped their target price on Teladoc Health from $10.00 to $8.00 and set an “equal weight” rating on the stock in a report on Thursday, May 8th. Twelve investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $9.76.

Insider Transactions at Teladoc Health

In other news, insider Carlos Nueno sold 3,958 shares of the company’s stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $6.86, for a total value of $27,151.88. Following the completion of the sale, the insider directly owned 17,645 shares in the company, valued at $121,044.70. This represents a 18.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Adam C. Vandervoort sold 5,808 shares of Teladoc Health stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $6.86, for a total value of $39,842.88. Following the transaction, the insider owned 69,773 shares in the company, valued at approximately $478,642.78. The trade was a 7.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,656 shares of company stock worth $128,189 in the last ninety days. Insiders own 0.58% of the company’s stock.

About Teladoc Health

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.