Wedmont Private Capital Makes New Investment in Teladoc Health, Inc. (NYSE:TDOC)

Wedmont Private Capital bought a new stake in Teladoc Health, Inc. (NYSE:TDOC) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 13,932 shares of the health services provider’s stock, valued at approximately $120,000.

A number of other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Teladoc Health by 11.8% in the 4th quarter. Vanguard Group Inc. now owns 17,515,127 shares of the health services provider’s stock valued at $377,451,000 after buying an additional 1,855,480 shares during the last quarter. Point72 Asset Management L.P. grew its stake in shares of Teladoc Health by 221.9% in the second quarter. Point72 Asset Management L.P. now owns 5,303,123 shares of the health services provider’s stock worth $51,865,000 after purchasing an additional 3,655,436 shares during the last quarter. Rubric Capital Management LP acquired a new stake in Teladoc Health in the second quarter valued at $45,267,000. Clearline Capital LP raised its position in Teladoc Health by 395.6% during the 2nd quarter. Clearline Capital LP now owns 4,364,201 shares of the health services provider’s stock worth $42,682,000 after purchasing an additional 3,483,665 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Teladoc Health by 1.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 916,129 shares of the health services provider’s stock worth $8,960,000 after buying an additional 14,910 shares during the period. 76.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TDOC has been the subject of several recent research reports. Jefferies Financial Group increased their price target on Teladoc Health from $8.00 to $10.00 and gave the company a “hold” rating in a research note on Tuesday, September 17th. Barclays decreased their target price on shares of Teladoc Health from $20.00 to $10.00 and set an “overweight” rating for the company in a research report on Thursday, August 1st. Stifel Nicolaus dropped their price target on shares of Teladoc Health from $16.00 to $9.00 and set a “hold” rating on the stock in a research report on Thursday, August 1st. Royal Bank of Canada increased their price objective on shares of Teladoc Health from $9.00 to $10.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. Finally, Truist Financial lowered their target price on shares of Teladoc Health from $15.00 to $10.00 and set a “hold” rating for the company in a research note on Friday, August 2nd. Fifteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $11.81.

Teladoc Health Stock Performance

Shares of TDOC stock opened at $9.20 on Monday. The firm’s 50 day moving average is $7.90 and its 200 day moving average is $10.19. The stock has a market capitalization of $1.56 billion, a P/E ratio of -6.52 and a beta of 0.91. Teladoc Health, Inc. has a 12 month low of $6.76 and a 12 month high of $22.54. 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 (NYSE:TDOC) last posted its earnings results on Wednesday, July 31st. The health services provider reported ($0.28) earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $642.44 million for the quarter, compared to the consensus estimate of $649.34 million. On average, sell-side analysts anticipate that Teladoc Health, Inc. will post -1.18 earnings per share for the current year.

Insider Buying and Selling

In other Teladoc Health news, insider Vidya Raman-Tangella sold 3,857 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 transaction of $31,395.98. Following the completion of the transaction, the insider now owns 33,667 shares of the company’s stock, valued at $274,049.38. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Teladoc Health news, insider Vidya Raman-Tangella sold 3,857 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $8.14, for a total value of $31,395.98. Following the completion of the transaction, the insider now directly owns 33,667 shares of the company’s stock, valued at $274,049.38. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas Mckinley purchased 4,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was purchased at an average cost of $7.69 per share, for a total transaction of $30,760.00. Following the acquisition, the director now owns 39,077 shares of the company’s stock, valued at approximately $300,502.13. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 57,377 shares of company stock valued at $438,054. 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.