Bank of New York Mellon Corp Sells 60,900 Shares of Teladoc Health, Inc. (NYSE:TDOC)

Bank of New York Mellon Corp lessened its position in Teladoc Health, Inc. (NYSE:TDOC) by 9.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 558,664 shares of the health services provider’s stock after selling 60,900 shares during the quarter. Bank of New York Mellon Corp’s holdings in Teladoc Health were worth $5,078,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of TDOC. Point72 Asset Management L.P. increased its position in Teladoc Health by 57.8% during the third quarter. Point72 Asset Management L.P. now owns 8,366,295 shares of the health services provider’s stock worth $76,803,000 after acquiring an additional 3,063,172 shares during the period. Geode Capital Management LLC grew its position in Teladoc Health by 1.5% during the third quarter. Geode Capital Management LLC now owns 3,925,167 shares of the health services provider’s stock worth $36,042,000 after buying an additional 56,864 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in Teladoc Health by 15.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,701,161 shares of the health services provider’s stock valued at $15,617,000 after acquiring an additional 228,004 shares during the period. Invenomic Capital Management LP raised its holdings in Teladoc Health by 155.2% in the 3rd quarter. Invenomic Capital Management LP now owns 1,474,337 shares of the health services provider’s stock valued at $13,534,000 after acquiring an additional 896,552 shares in the last quarter. Finally, Maple Rock Capital Partners Inc. bought a new stake in shares of Teladoc Health in the 3rd quarter worth approximately $11,291,000. Institutional investors own 76.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Needham & Company LLC restated a “hold” rating on shares of Teladoc Health in a research note on Thursday, February 27th. Piper Sandler cut their target price on Teladoc Health from $13.00 to $12.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Royal Bank of Canada upped their price target on Teladoc Health from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday, January 24th. Oppenheimer cut their price objective on Teladoc Health from $14.00 to $12.00 and set an “outperform” rating for the company in a report on Friday, January 24th. Finally, Bank of America boosted their target price on shares of Teladoc Health from $11.50 to $13.50 and gave the company a “neutral” rating in a research note on Wednesday, February 12th. Eleven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $11.26.

Teladoc Health Trading Up 2.8 %

TDOC opened at $8.86 on Tuesday. Teladoc Health, Inc. has a 1-year low of $6.76 and a 1-year high of $15.68. The firm has a 50-day moving average price of $10.54 and a two-hundred day moving average price of $9.73. The stock has a market capitalization of $1.54 billion, a PE ratio of -1.54 and a beta of 1.27. The company has a current ratio of 1.73, a quick ratio of 1.69 and a debt-to-equity ratio of 0.66.

Teladoc Health (NYSE:TDOC) last issued its quarterly earnings results on Wednesday, February 26th. The health services provider reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.07). Teladoc Health had a negative net margin of 37.91% and a negative return on equity of 10.06%. The company had revenue of $640.49 million during the quarter, compared to analyst estimates of $639.44 million. As a group, equities analysts anticipate that Teladoc Health, Inc. will post -1.16 earnings per share for the current fiscal year.

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.