Point72 Asset Management L.P. Buys 3,655,436 Shares of Teladoc Health, Inc. (NYSE:TDOC)

Point72 Asset Management L.P. lifted its position in Teladoc Health, Inc. (NYSE:TDOC) by 221.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,303,123 shares of the health services provider’s stock after acquiring an additional 3,655,436 shares during the quarter. Point72 Asset Management L.P. owned approximately 3.10% of Teladoc Health worth $51,865,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in TDOC. Allianz Asset Management GmbH lifted its holdings in Teladoc Health by 15.4% during the fourth quarter. Allianz Asset Management GmbH now owns 604,238 shares of the health services provider’s stock worth $13,021,000 after acquiring an additional 80,805 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Teladoc Health by 74.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 20,568 shares of the health services provider’s stock worth $311,000 after purchasing an additional 8,750 shares during the period. Janney Montgomery Scott LLC raised its stake in shares of Teladoc Health by 188.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 31,594 shares of the health services provider’s stock worth $477,000 after purchasing an additional 20,651 shares during the period. Vanguard Group Inc. boosted its holdings in shares of 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 worth $377,451,000 after buying an additional 1,855,480 shares during the last quarter. Finally, Pale Fire Capital SE bought a new position in Teladoc Health during the fourth quarter valued at about $8,960,000. Hedge funds and other institutional investors own 76.82% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $10.00 price objective on shares of Teladoc Health in a research report on Tuesday, August 20th. Oppenheimer dropped their price objective on Teladoc Health from $21.00 to $17.00 and set an “outperform” rating on the stock in a research note on Thursday, August 1st. Barclays reduced their price objective on Teladoc Health from $20.00 to $10.00 and set an “overweight” rating for the company in a report on Thursday, August 1st. TD Cowen lowered their target price on Teladoc Health from $15.00 to $9.00 and set a “hold” rating on the stock in a research note on Thursday, August 1st. Finally, Stifel Nicolaus cut their price target on Teladoc Health from $16.00 to $9.00 and set a “hold” rating for the company in a research note on Thursday, August 1st. Fifteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $12.31.

Insider Buying and Selling

In other Teladoc Health news, insider Vidya Raman-Tangella sold 3,857 shares of Teladoc Health stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $8.14, for a total transaction of $31,395.98. Following the completion of the sale, the insider now directly owns 33,667 shares in the company, valued at $274,049.38. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Thomas Mckinley acquired 4,000 shares of the business’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 $300,502.13. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Vidya Raman-Tangella sold 3,857 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $8.14, for a total value of $31,395.98. Following the transaction, the insider now directly owns 33,667 shares in the company, valued at $274,049.38. The disclosure for this sale can be found here. Over the last three months, insiders have sold 57,819 shares of company stock worth $442,204. Insiders own 0.95% of the company’s stock.

Teladoc Health Stock Down 4.0 %

TDOC opened at $8.47 on Thursday. The firm has a market capitalization of $1.45 billion, a P/E ratio of -6.01 and a beta of 0.90. Teladoc Health, Inc. has a one year low of $6.76 and a one year high of $22.54. The company has a fifty day moving average price of $7.96 and a 200-day moving average price of $10.75. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.66 and a quick ratio of 1.62.

Teladoc Health (NYSE:TDOC) last announced its earnings results on Wednesday, July 31st. The health services provider reported ($0.28) earnings per share 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 business had revenue of $642.44 million for the quarter, compared to analyst estimates of $649.34 million. Equities research analysts expect that Teladoc Health, Inc. will post -1.18 earnings per share for the current fiscal year.

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.