Federated Hermes Inc. Grows Stake in Teladoc Health, Inc. (NYSE:TDOC)

Federated Hermes Inc. raised its stake in Teladoc Health, Inc. (NYSE:TDOC) by 6.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 121,654 shares of the health services provider’s stock after acquiring an additional 7,549 shares during the period. Federated Hermes Inc. owned approximately 0.07% of Teladoc Health worth $1,190,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of TDOC. ICA Group Wealth Management LLC purchased a new stake in shares of Teladoc Health during the fourth quarter valued at $28,000. Principal Securities Inc. purchased a new stake in shares of Teladoc Health during the fourth quarter valued at $45,000. Signaturefd LLC boosted its position in shares of Teladoc Health by 148.7% during the second quarter. Signaturefd LLC now owns 2,868 shares of the health services provider’s stock valued at $28,000 after buying an additional 1,715 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Teladoc Health during the second quarter valued at $29,000. Finally, SageView Advisory Group LLC purchased a new stake in shares of Teladoc Health during the first quarter valued at $48,000. 76.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on TDOC shares. Stifel Nicolaus lowered their target price on Teladoc Health from $16.00 to $9.00 and set a “hold” rating on the stock in a report on Thursday, August 1st. Piper Sandler lowered their target price on Teladoc Health from $25.00 to $10.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft lowered their target price on Teladoc Health from $15.00 to $10.00 and set a “hold” rating on the stock in a report on Friday, August 2nd. Canaccord Genuity Group lowered their target price on Teladoc Health from $25.00 to $17.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 target price on shares of Teladoc Health in a report on Tuesday, August 20th. Fifteen analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $12.31.

Teladoc Health Stock Down 4.7 %

NYSE TDOC opened at $8.75 on Friday. The stock’s 50 day moving average is $8.03 and its 200 day moving average is $10.89. The company has a current ratio of 1.66, a quick ratio of 1.62 and a debt-to-equity ratio of 0.66. Teladoc Health, Inc. has a 12 month low of $6.76 and a 12 month high of $22.54. The stock has a market cap of $1.50 billion, a PE ratio of -6.21 and a beta of 0.90.

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

Insider Buying and Selling

In other news, Director Thomas Mckinley acquired 4,000 shares of Teladoc Health stock in a transaction on Thursday, September 12th. The shares were acquired at an average price of $7.69 per share, with a total value of $30,760.00. Following the purchase, the director now directly owns 39,077 shares in the company, valued at approximately $300,502.13. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Thomas Mckinley acquired 4,000 shares of Teladoc Health stock in a transaction on Thursday, September 12th. The shares were acquired at an average price of $7.69 per share, with a total value of $30,760.00. Following the purchase, the director now directly owns 39,077 shares in the company, valued at approximately $300,502.13. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Vidya Raman-Tangella sold 3,857 shares of Teladoc Health stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $8.14, for a total value of $31,395.98. Following the completion of the sale, the insider now directly owns 33,667 shares in the company, valued at approximately $274,049.38. The disclosure for this sale can be found here. In the last three months, insiders have sold 57,819 shares of company stock valued at $442,204. 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.