Advisory Services Network LLC cut its position in shares of Teladoc Health Inc (NYSE:TDOC) by 6.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 19,570 shares of the health services provider’s stock after selling 1,290 shares during the quarter. Advisory Services Network LLC’s holdings in Teladoc Health were worth $1,690,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd acquired a new stake in Teladoc Health during the third quarter valued at approximately $165,000. Garner Asset Management Corp acquired a new stake in Teladoc Health during the second quarter valued at approximately $200,000. Pier 88 Investment Partners LLC acquired a new stake in Teladoc Health during the second quarter valued at approximately $201,000. Aperio Group LLC acquired a new stake in Teladoc Health during the second quarter valued at approximately $201,000. Finally, California Public Employees Retirement System acquired a new stake in Teladoc Health during the second quarter valued at approximately $203,000.
NYSE:TDOC opened at $63.41 on Wednesday. Teladoc Health Inc has a 1 year low of $27.30 and a 1 year high of $89.05. The company has a debt-to-equity ratio of 0.40, a current ratio of 8.99 and a quick ratio of 8.99. The company has a market capitalization of $5.04 billion, a PE ratio of -38.43 and a beta of 0.96.
Teladoc Health (NYSE:TDOC) last posted its earnings results on Thursday, November 1st. The health services provider reported ($0.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.02. Teladoc Health had a negative net margin of 31.32% and a negative return on equity of 14.05%. The company had revenue of $111.00 million during the quarter, compared to analysts’ expectations of $109.94 million. During the same quarter in the previous year, the company posted ($0.55) earnings per share. Teladoc Health’s quarterly revenue was up 61.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Teladoc Health Inc will post -1.49 EPS for the current year.
In related news, VP Mark Hirschhorn sold 35,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 25th. The shares were sold at an average price of $80.42, for a total value of $2,814,700.00. Following the completion of the transaction, the vice president now owns 10,000 shares in the company, valued at approximately $804,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stephany Verstraete sold 18,000 shares of the business’s stock in a transaction that occurred on Thursday, September 20th. The stock was sold at an average price of $74.79, for a total transaction of $1,346,220.00. Following the completion of the transaction, the insider now owns 13,925 shares of the company’s stock, valued at approximately $1,041,450.75. The disclosure for this sale can be found here. Insiders sold 161,157 shares of company stock valued at $12,039,059 in the last quarter. 3.95% of the stock is currently owned by corporate insiders.
A number of equities research analysts have weighed in on the company. Jefferies Financial Group set a $95.00 price objective on Teladoc Health and gave the company a “buy” rating in a report on Friday, November 2nd. Chardan Capital lifted their price objective on Teladoc Health from $98.00 to $100.00 and gave the company a “buy” rating in a report on Friday, November 2nd. Craig Hallum lifted their price objective on Teladoc Health from $70.00 to $80.00 and gave the company a “buy” rating in a report on Monday, October 15th. TheStreet downgraded Teladoc Health from a “c” rating to a “d+” rating in a report on Tuesday, October 9th. Finally, Credit Suisse Group assumed coverage on Teladoc Health in a report on Monday, October 8th. They set a “neutral” rating and a $80.00 price objective on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Teladoc Health currently has a consensus rating of “Buy” and an average price target of $82.95.
Teladoc Health Profile
Teladoc Health, Inc provides telehealth services worldwide. 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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