Mackenzie Financial Corp Grows Position in Teladoc Health, Inc. (NYSE:TDOC)

Mackenzie Financial Corp increased its position in shares of Teladoc Health, Inc. (NYSE:TDOC) by 652.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 81,208 shares of the health services provider’s stock after buying an additional 70,420 shares during the quarter. Mackenzie Financial Corp’s holdings in Teladoc Health were worth $646,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in TDOC. American Century Companies Inc. grew its stake in shares of Teladoc Health by 18.1% in the 4th quarter. American Century Companies Inc. now owns 209,718 shares of the health services provider’s stock valued at $1,906,000 after purchasing an additional 32,213 shares during the last quarter. Norges Bank purchased a new position in shares of Teladoc Health in the 4th quarter valued at approximately $1,618,000. Geode Capital Management LLC grew its stake in shares of Teladoc Health by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 3,947,831 shares of the health services provider’s stock valued at $35,894,000 after purchasing an additional 22,664 shares during the last quarter. Federated Hermes Inc. grew its stake in shares of Teladoc Health by 232.6% in the 4th quarter. Federated Hermes Inc. now owns 337,597 shares of the health services provider’s stock valued at $3,069,000 after purchasing an additional 236,102 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Teladoc Health by 15.5% in the 4th quarter. Renaissance Technologies LLC now owns 5,674,542 shares of the health services provider’s stock valued at $51,582,000 after purchasing an additional 763,265 shares during the last quarter. Hedge funds and other institutional investors own 76.82% of the company’s stock.

Insider Activity at Teladoc Health

In other news, insider Adam C. Vandervoort sold 5,808 shares of the firm’s stock in a transaction on Monday, June 2nd. The shares were 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 of the company’s stock, valued at approximately $478,642.78. This trade represents a 7.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Carlos Nueno sold 3,958 shares of the firm’s stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $6.86, for a total transaction of $27,151.88. Following the completion of the transaction, the insider directly owned 17,645 shares in the company, valued at approximately $121,044.70. This represents a 18.32% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,656 shares of company stock worth $128,189. 0.58% of the stock is currently owned by insiders.

Teladoc Health Stock Performance

Teladoc Health stock opened at $6.98 on Thursday. The firm has a market capitalization of $1.23 billion, a P/E ratio of -5.86 and a beta of 1.76. The stock has a fifty day moving average price of $7.71 and a 200 day moving average price of $8.46. Teladoc Health, Inc. has a 52 week low of $6.35 and a 52 week high of $15.21. The company has a current ratio of 2.67, a quick ratio of 2.58 and a debt-to-equity ratio of 0.70.

Teladoc Health (NYSE:TDOC) last released its earnings results on Tuesday, July 29th. The health services provider reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.08. The firm had revenue of $631.90 million during the quarter, compared to analyst estimates of $621.91 million. Teladoc Health had a negative return on equity of 10.13% and a negative net margin of 8.16%. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.38) earnings per share. Equities research analysts anticipate that Teladoc Health, Inc. will post -1.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. 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. Wells Fargo & Company lowered their target price on Teladoc Health from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 8th. Stifel Nicolaus decreased their price target on Teladoc Health from $9.00 to $8.00 and set a “hold” rating on the stock in a research note on Thursday, May 1st. Truist Financial decreased their price target on Teladoc Health from $10.00 to $9.00 and set a “hold” rating on the stock in a research note on Tuesday, May 27th. Finally, Needham & Company LLC restated a “hold” rating on shares of Teladoc Health in a research note on Thursday, May 1st. Twelve research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $9.76.

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.