First Republic Investment Management Inc. lowered its stake in shares of Teladoc Health Inc (NYSE:TDOC) by 33.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,086 shares of the health services provider’s stock after selling 3,505 shares during the quarter. First Republic Investment Management Inc.’s holdings in Teladoc Health were worth $471,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Zevenbergen Capital Investments LLC raised its position in Teladoc Health by 5.2% in the first quarter. Zevenbergen Capital Investments LLC now owns 1,789,100 shares of the health services provider’s stock worth $99,474,000 after acquiring an additional 89,110 shares during the period. Riverbridge Partners LLC lifted its position in Teladoc Health by 15.2% during the second quarter. Riverbridge Partners LLC now owns 1,754,498 shares of the health services provider’s stock valued at $116,516,000 after purchasing an additional 230,937 shares during the last quarter. Jennison Associates LLC lifted its position in Teladoc Health by 60.6% during the second quarter. Jennison Associates LLC now owns 1,172,135 shares of the health services provider’s stock valued at $77,841,000 after purchasing an additional 442,140 shares during the last quarter. ARK Investment Management LLC lifted its position in Teladoc Health by 32.7% during the second quarter. ARK Investment Management LLC now owns 977,559 shares of the health services provider’s stock valued at $64,920,000 after purchasing an additional 240,886 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in Teladoc Health by 3.0% during the first quarter. Victory Capital Management Inc. now owns 907,747 shares of the health services provider’s stock valued at $50,471,000 after purchasing an additional 26,615 shares during the last quarter.
In related news, insider Lewis Levy sold 675 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $60.00, for a total transaction of $40,500.00. Following the completion of the sale, the insider now owns 4,805 shares in the company, valued at approximately $288,300. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Peter A. Mcclennen sold 13,753 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $70.99, for a total value of $976,325.47. Following the completion of the sale, the president now owns 29,412 shares of the company’s stock, valued at approximately $2,087,957.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 132,562 shares of company stock valued at $8,855,846. 3.95% of the stock is owned by company insiders.
Shares of NYSE TDOC traded up $1.34 during mid-day trading on Friday, hitting $70.39. 2,013,172 shares of the company were exchanged, compared to its average volume of 1,357,073. Teladoc Health Inc has a 1-year low of $42.08 and a 1-year high of $89.05. The company has a quick ratio of 7.56, a current ratio of 7.56 and a debt-to-equity ratio of 0.43. The stock has a 50 day simple moving average of $63.02 and a 200-day simple moving average of $61.31. The firm has a market cap of $4.67 billion, a price-to-earnings ratio of -48.88 and a beta of 1.35.
Teladoc Health (NYSE:TDOC) last released its earnings results on Wednesday, July 31st. The health services provider reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.01). The business had revenue of $130.30 million during the quarter, compared to analyst estimates of $129.54 million. Teladoc Health had a negative net margin of 21.85% and a negative return on equity of 10.64%. Teladoc Health’s revenue was up 37.8% compared to the same quarter last year. During the same period last year, the business posted ($0.40) EPS. Analysts anticipate that Teladoc Health Inc will post -1.56 earnings per share for the current fiscal year.
Several equities research analysts have recently issued reports on TDOC shares. Jefferies Financial Group restated a “buy” rating and issued a $95.00 target price on shares of Teladoc Health in a report on Tuesday, July 2nd. Piper Jaffray Companies set a $87.00 target price on shares of Teladoc Health and gave the stock a “buy” rating in a research report on Friday, August 16th. SunTrust Banks boosted their target price on shares of Teladoc Health to $80.00 and gave the company a “positive” rating in a research note on Tuesday, August 6th. Craig Hallum upped their target price on shares of Teladoc Health from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Bank of America started coverage on shares of Teladoc Health in a report on Thursday, June 13th. They set a “buy” rating and a $65.00 target price for the company. Three equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $82.58.
Teladoc Health Profile
Teladoc Health, Inc provides telehealth services. It offers a portfolio of services and solutions covering 450 medical subspecialties, such as flu and upper respiratory infections, cancer, and congestive heart failure. The company provides its services through mobile devices, the Internet, video, and phone.
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