Massachusetts Financial Services Co. MA Buys 305,961 Shares of Teladoc Health, Inc. (NYSE:TDOC)

Massachusetts Financial Services Co. MA increased its stake in Teladoc Health, Inc. (NYSE:TDOC) by 477.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 370,093 shares of the health services provider’s stock after purchasing an additional 305,961 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.21% of Teladoc Health worth $3,397,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Teladoc Health by 2.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 65,588 shares of the health services provider’s stock worth $641,000 after buying an additional 1,352 shares in the last quarter. Signaturefd LLC increased its stake in Teladoc Health by 148.7% in the 2nd quarter. Signaturefd LLC now owns 2,868 shares of the health services provider’s stock worth $28,000 after buying an additional 1,715 shares in the last quarter. Blue Trust Inc. increased its stake in Teladoc Health by 84.5% in the 3rd quarter. Blue Trust Inc. now owns 4,048 shares of the health services provider’s stock worth $40,000 after buying an additional 1,854 shares in the last quarter. Arizona State Retirement System increased its stake in Teladoc Health by 4.2% in the 2nd quarter. Arizona State Retirement System now owns 47,400 shares of the health services provider’s stock worth $464,000 after buying an additional 1,901 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in Teladoc Health in the 2nd quarter worth $29,000. 76.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on TDOC. Stifel Nicolaus cut their price objective on Teladoc Health from $16.00 to $9.00 and set a “hold” rating for the company in a research report on Thursday, August 1st. Oppenheimer cut their price objective on Teladoc Health from $21.00 to $17.00 and set an “outperform” rating for the company in a research report on Thursday, August 1st. DA Davidson cut their price objective on Teladoc Health from $12.00 to $8.00 and set a “neutral” rating for the company in a research report on Thursday, August 1st. Jefferies Financial Group raised their price objective on Teladoc Health from $8.00 to $10.00 and gave the company a “hold” rating in a research report on Tuesday, September 17th. Finally, Truist Financial cut their price objective on Teladoc Health from $15.00 to $10.00 and set a “hold” rating for the company in a research report on Friday, August 2nd. Fourteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Teladoc Health presently has an average rating of “Hold” and an average target price of $12.08.

Teladoc Health Stock Down 5.4 %

Shares of NYSE TDOC opened at $11.37 on Wednesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.73 and a quick ratio of 1.69. The company has a market cap of $1.96 billion, a P/E ratio of -1.97 and a beta of 0.90. Teladoc Health, Inc. has a 1 year low of $6.76 and a 1 year high of $22.54. The firm has a 50-day simple moving average of $9.18 and a two-hundred day simple moving average of $9.25.

Teladoc Health (NYSE:TDOC) last posted its quarterly earnings results on Wednesday, October 30th. The health services provider reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.10. Teladoc Health had a negative net margin of 37.91% and a negative return on equity of 10.06%. The firm had revenue of $640.51 million during the quarter, compared to the consensus estimate of $630.50 million. Research analysts anticipate that Teladoc Health, Inc. will post -1.16 earnings per share for the current year.

Insider Activity

In related news, 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 price of $7.69 per share, with a total value of $30,760.00. Following the completion of the purchase, the director now owns 39,077 shares of the company’s stock, valued at approximately $300,502.13. The trade was a 11.40 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Michael Willem Waters sold 4,218 shares of Teladoc Health stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $7.16, for a total transaction of $30,200.88. Following the sale, the chief operating officer now directly owns 78,309 shares of the company’s stock, valued at $560,692.44. This represents a 5.11 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,051 shares of company stock valued at $143,565. Corporate insiders own 0.95% of the company’s stock.

Teladoc Health Company 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.