Sumitomo Mitsui Trust Holdings Inc. Lowers Holdings in Teladoc Health, Inc. (NYSE:TDOC)

Sumitomo Mitsui Trust Holdings Inc. decreased its holdings in Teladoc Health, Inc. (NYSE:TDOC) by 3.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,181,688 shares of the health services provider’s stock after selling 292,986 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 4.24% of Teladoc Health worth $108,443,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TDOC. ARK Investment Management LLC grew its holdings in shares of Teladoc Health by 4.5% during the 4th quarter. ARK Investment Management LLC now owns 21,224,565 shares of the health services provider’s stock worth $457,389,000 after purchasing an additional 912,692 shares during the period. Vanguard Group Inc. grew its holdings in shares of Teladoc Health by 11.8% during the 4th quarter. Vanguard Group Inc. now owns 17,515,127 shares of the health services provider’s stock worth $377,451,000 after purchasing an additional 1,855,480 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Teladoc Health by 25.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,834,422 shares of the health services provider’s stock worth $82,636,000 after purchasing an additional 767,999 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Teladoc Health by 6.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,654,116 shares of the health services provider’s stock worth $35,646,000 after purchasing an additional 104,531 shares during the period. Finally, Allianz Asset Management GmbH grew its holdings in shares of Teladoc Health by 15.4% during the 4th quarter. Allianz Asset Management GmbH now owns 604,238 shares of the health services provider’s stock worth $13,021,000 after purchasing an additional 80,805 shares during the period. Hedge funds and other institutional investors own 76.82% of the company’s stock.

Insider Activity at Teladoc Health

In related news, Director Karen L. Daniel sold 9,834 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $11.90, for a total transaction of $117,024.60. Following the completion of the transaction, the director now owns 36,995 shares of the company’s stock, valued at $440,240.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, COO Michael Willem Waters sold 5,793 shares of the stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $12.69, for a total value of $73,513.17. Following the completion of the sale, the chief operating officer now directly owns 64,881 shares of the company’s stock, valued at approximately $823,339.89. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Karen L. Daniel sold 9,834 shares of the stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $11.90, for a total value of $117,024.60. Following the completion of the sale, the director now directly owns 36,995 shares of the company’s stock, valued at $440,240.50. The disclosure for this sale can be found here. Insiders sold 32,592 shares of company stock valued at $397,064 over the last 90 days. 0.95% of the stock is currently owned by corporate insiders.

Teladoc Health Trading Down 1.6 %

NYSE:TDOC opened at $9.25 on Thursday. The business has a fifty day moving average of $11.32 and a 200-day moving average of $15.51. Teladoc Health, Inc. has a 1 year low of $9.22 and a 1 year high of $30.41. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.82 and a quick ratio of 3.74.

Teladoc Health (NYSE:TDOC) last announced its earnings results on Thursday, April 25th. The health services provider reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.47) by ($0.02). Teladoc Health had a negative net margin of 8.90% and a negative return on equity of 10.13%. The firm had revenue of $646.13 million for the quarter, compared to the consensus estimate of $637.31 million. During the same period in the prior year, the business earned ($0.37) EPS. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Teladoc Health, Inc. will post -1.05 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. decreased their price target on Teladoc Health from $19.00 to $16.00 and set a “neutral” rating for the company in a report on Tuesday, May 21st. Bank of America cut their target price on Teladoc Health from $16.50 to $13.50 and set a “neutral” rating on the stock in a research report on Tuesday, May 14th. Wells Fargo & Company dropped their price target on Teladoc Health from $17.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Monday, April 29th. Royal Bank of Canada dropped their price target on Teladoc Health from $25.00 to $18.00 and set an “outperform” rating on the stock in a research report on Friday, April 26th. Finally, Oppenheimer dropped their target price on Teladoc Health from $26.00 to $21.00 and set an “outperform” rating on the stock in a research report on Friday, April 26th. Thirteen analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $18.22.

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.