UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 202,586 Shares of Teladoc Health, Inc. (NYSE:TDOC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its stake in Teladoc Health, Inc. (NYSE:TDOC) by 22.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 686,440 shares of the health services provider’s stock after selling 202,586 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Teladoc Health were worth $6,302,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Connor Clark & Lunn Investment Management Ltd. grew its holdings 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 purchasing an additional 228,004 shares during the period. Clearline Capital LP boosted its stake in shares of Teladoc Health by 395.6% during the 2nd quarter. Clearline Capital LP now owns 4,364,201 shares of the health services provider’s stock worth $42,682,000 after acquiring an additional 3,483,665 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Teladoc Health by 195.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 95,307 shares of the health services provider’s stock worth $932,000 after buying an additional 63,028 shares during the period. Jennison Associates LLC acquired a new stake in shares of Teladoc Health during the third quarter worth $1,544,000. Finally, Massachusetts Financial Services Co. MA grew its position in Teladoc Health by 477.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 370,093 shares of the health services provider’s stock worth $3,397,000 after buying an additional 305,961 shares in the last quarter. Institutional investors and hedge funds own 76.82% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on TDOC shares. Piper Sandler reaffirmed an “overweight” rating and issued a $13.00 price target (up previously from $11.00) on shares of Teladoc Health in a research note on Wednesday, December 4th. The Goldman Sachs Group began coverage on Teladoc Health in a report on Friday, November 15th. They issued a “buy” rating and a $14.00 target price for the company. Royal Bank of Canada raised their price objective on Teladoc Health from $9.00 to $10.00 and gave the company an “outperform” rating in a research note on Wednesday, October 9th. Evercore ISI lifted their target price on Teladoc Health from $8.00 to $9.00 and gave the company an “in-line” rating in a research report on Tuesday, October 8th. Finally, TD Cowen reduced their price objective on Teladoc Health from $9.00 to $8.00 and set a “hold” rating for the company in a research note on Thursday, October 31st. Fourteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $12.24.

Teladoc Health Price Performance

Shares of NYSE:TDOC opened at $10.61 on Wednesday. Teladoc Health, Inc. has a one year low of $6.76 and a one year high of $22.54. The firm has a market capitalization of $1.83 billion, a price-to-earnings ratio of -1.84 and a beta of 0.97. The company’s fifty day moving average price is $9.70 and its 200-day moving average price is $9.17. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.73 and a quick ratio of 1.69.

Teladoc Health (NYSE:TDOC) last announced its quarterly earnings data on Wednesday, October 30th. The health services provider reported ($0.19) earnings per share (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 during the quarter, compared to analysts’ expectations of $630.50 million. On average, equities research analysts anticipate that Teladoc Health, Inc. will post -1.16 earnings per share for the current fiscal year.

Insider Buying and Selling at Teladoc Health

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

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.