Teladoc Health, Inc. (NYSE:TDOC) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. cut its position in shares of Teladoc Health, Inc. (NYSE:TDOC) by 7.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 2,059,185 shares of the health services provider’s stock after selling 171,639 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Teladoc Health were worth $18,903,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rubric Capital Management LP acquired a new position in shares of Teladoc Health in the second quarter worth about $45,267,000. Point72 Asset Management L.P. increased its stake in shares of Teladoc Health by 221.9% in the 2nd quarter. Point72 Asset Management L.P. now owns 5,303,123 shares of the health services provider’s stock valued at $51,865,000 after purchasing an additional 3,655,436 shares in the last quarter. Clearline Capital LP raised its holdings in Teladoc Health by 395.6% in 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 period. Assenagon Asset Management S.A. acquired a new position in shares of Teladoc Health during the 3rd quarter worth approximately $15,801,000. Finally, Mizuho Markets Americas LLC acquired a new stake in Teladoc Health in the 2nd quarter valued at $3,937,000. Institutional investors and hedge funds own 76.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on TDOC shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 target price on shares of Teladoc Health in a research report on Tuesday, August 20th. Barclays raised their target price on Teladoc Health from $10.00 to $12.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft increased their price objective on Teladoc Health from $10.00 to $12.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Royal Bank of Canada lifted their target price on shares of Teladoc Health from $9.00 to $10.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 9th. Finally, TD Cowen dropped their target price on shares of Teladoc Health from $9.00 to $8.00 and set a “hold” rating for the company in a report on Thursday, October 31st. Fourteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $12.24.

Insider Buying and Selling

In other Teladoc Health news, Director Thomas Mckinley purchased 4,000 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were bought at an average cost of $7.69 per share, for a total transaction of $30,760.00. Following the completion of the purchase, the director now directly owns 39,077 shares of the company’s stock, valued at approximately $300,502.13. This trade represents a 11.40 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Carlos Nueno sold 2,389 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $11.93, for a total transaction of $28,500.77. Following the completion of the transaction, the insider now directly owns 2,890 shares of the company’s stock, valued at approximately $34,477.70. The trade was a 45.25 % decrease in their position. The disclosure for this sale can be found here. 0.95% of the stock is currently owned by corporate insiders.

Teladoc Health Stock Up 2.0 %

TDOC stock opened at $11.01 on Friday. Teladoc Health, Inc. has a one year low of $6.76 and a one year high of $22.54. The firm has a market cap of $1.89 billion, a PE ratio of -1.91 and a beta of 0.97. The firm’s 50 day moving average price is $9.63 and its 200-day moving average price is $9.22. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.69 and a current ratio of 1.73.

Teladoc Health (NYSE:TDOC) last posted its earnings results on Wednesday, October 30th. The health services provider reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $640.51 million for the quarter, compared to analysts’ expectations of $630.50 million. On average, equities research analysts anticipate that Teladoc Health, Inc. will post -1.16 EPS for the current 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.