Teladoc Health, Inc. (NYSE:TDOC) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC lessened its position in shares of Teladoc Health, Inc. (NYSE:TDOC) by 1.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,469,784 shares of the health services provider’s stock after selling 63,719 shares during the quarter. Renaissance Technologies LLC owned approximately 3.19% of Teladoc Health worth $53,494,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA grew its position in shares of Teladoc Health by 3.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 64,132 shares of the health services provider’s stock valued at $627,000 after acquiring an additional 2,153 shares during the period. Federated Hermes Inc. grew its holdings in Teladoc Health by 6.6% in the second quarter. Federated Hermes Inc. now owns 121,654 shares of the health services provider’s stock valued at $1,190,000 after purchasing an additional 7,549 shares during the period. American Century Companies Inc. increased its position in shares of Teladoc Health by 31.0% in the second quarter. American Century Companies Inc. now owns 136,351 shares of the health services provider’s stock valued at $1,334,000 after buying an additional 32,240 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Teladoc Health during the 2nd quarter worth approximately $198,000. Finally, Doheny Asset Management CA purchased a new position in shares of Teladoc Health during the 2nd quarter valued at approximately $46,000. Hedge funds and other institutional investors own 76.82% of the company’s stock.

Teladoc Health Stock Performance

Teladoc Health stock opened at $9.11 on Wednesday. The firm has a 50 day simple moving average of $8.05 and a 200-day simple moving average of $11.02. The stock has a market cap of $1.56 billion, a price-to-earnings ratio of -6.44 and a beta of 0.90. 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, Inc. has a 1-year low of $6.76 and a 1-year high of $22.54.

Teladoc Health (NYSE:TDOC) last issued its quarterly earnings data on Wednesday, July 31st. The health services provider reported ($0.28) earnings per share 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 company had revenue of $642.44 million during the quarter, compared to analyst estimates of $649.34 million. On average, analysts expect that Teladoc Health, Inc. will post -0.73 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on TDOC. Cantor Fitzgerald restated an “overweight” rating and set a $10.00 price objective on shares of Teladoc Health in a research report on Tuesday, August 20th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Teladoc Health from $15.00 to $10.00 and set a “hold” rating for the company in a research report on Friday, August 2nd. TD Cowen lowered their price objective on Teladoc Health from $15.00 to $9.00 and set a “hold” rating on the stock in a report on Thursday, August 1st. Truist Financial reduced their target price on Teladoc Health from $15.00 to $10.00 and set a “hold” rating for the company in a report on Friday, August 2nd. Finally, DA Davidson lowered their price target on Teladoc Health from $12.00 to $8.00 and set a “neutral” rating on the stock in a research note on Thursday, August 1st. Fifteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $12.31.

Insider Transactions at Teladoc Health

In related news, Director Thomas Mckinley bought 4,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were bought at an average price of $7.69 per share, with a total value of $30,760.00. Following the completion of the transaction, the director now directly owns 39,077 shares of the company’s stock, valued at approximately $300,502.13. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CMO Stephany Verstraete sold 15,000 shares of Teladoc Health stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $7.60, for a total value of $114,000.00. Following the completion of the sale, the chief marketing officer now directly owns 45,158 shares of the company’s stock, valued at $343,200.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas Mckinley bought 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were purchased at an average cost of $7.69 per share, for a total transaction of $30,760.00. Following the purchase, the director now owns 39,077 shares in the company, valued at approximately $300,502.13. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 57,819 shares of company stock worth $442,204. 0.95% of the stock is currently owned by company insiders.

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.