Teladoc Health, Inc. (NYSE:TDOC) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. trimmed its holdings in Teladoc Health, Inc. (NYSE:TDOC) by 2.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,474,674 shares of the health services provider’s stock after selling 212,972 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Teladoc Health were worth $161,079,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Acadian Asset Management LLC acquired a new stake in shares of Teladoc Health during the 1st quarter worth $27,000. Dark Forest Capital Management LP lifted its stake in shares of Teladoc Health by 408.2% in the 1st quarter. Dark Forest Capital Management LP now owns 1,245 shares of the health services provider’s stock valued at $32,000 after purchasing an additional 1,000 shares in the last quarter. Tyler Stone Wealth Management acquired a new stake in Teladoc Health during the 2nd quarter worth approximately $33,000. Quarry LP purchased a new position in Teladoc Health in the first quarter valued at approximately $35,000. Finally, IFP Advisors Inc raised its position in Teladoc Health by 201.5% in the second quarter. IFP Advisors Inc now owns 1,969 shares of the health services provider’s stock valued at $50,000 after purchasing an additional 1,316 shares during the period. 76.82% of the stock is owned by institutional investors and hedge funds.

Teladoc Health Price Performance

NYSE TDOC opened at $13.54 on Tuesday. The company has a 50-day moving average price of $16.16 and a two-hundred day moving average price of $18.06. The stock has a market cap of $2.29 billion, a price-to-earnings ratio of -10.10 and a beta of 0.94. The company has a current ratio of 3.54, a quick ratio of 3.47 and a debt-to-equity ratio of 0.66. Teladoc Health, Inc. has a 52 week low of $13.37 and a 52 week high of $30.41.

Teladoc Health (NYSE:TDOC) last issued its quarterly earnings data on Tuesday, February 20th. The health services provider reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.05. The business had revenue of $660.50 million during the quarter, compared to analyst estimates of $670.79 million. Teladoc Health had a negative return on equity of 9.22% and a negative net margin of 8.47%. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.23) EPS. Analysts forecast that Teladoc Health, Inc. will post -1.07 EPS for the current year.

Insider Buying and Selling

In other news, COO Michael Willem Waters sold 4,523 shares of Teladoc Health stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $19.18, for a total transaction of $86,751.14. Following the transaction, the chief operating officer now directly owns 38,570 shares in the company, valued at approximately $739,772.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Teladoc Health news, COO Michael Willem Waters sold 4,523 shares of Teladoc Health stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $19.18, for a total value of $86,751.14. Following the transaction, the chief operating officer now owns 38,570 shares in the company, valued at $739,772.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Andrew Turitz sold 6,190 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $14.52, for a total value of $89,878.80. Following the sale, the executive vice president now directly owns 39,429 shares of the company’s stock, valued at $572,509.08. The disclosure for this sale can be found here. Insiders have sold a total of 134,441 shares of company stock valued at $2,025,041 over the last quarter. Corporate insiders own 1.63% of the company’s stock.

Analyst Upgrades and Downgrades

TDOC has been the topic of several analyst reports. Truist Financial dropped their price target on shares of Teladoc Health from $23.00 to $17.00 and set a “hold” rating on the stock in a research note on Wednesday, March 6th. SVB Leerink assumed coverage on shares of Teladoc Health in a research report on Monday, February 26th. They set a “market perform” rating and a $17.00 price target for the company. Royal Bank of Canada cut their price target on shares of Teladoc Health from $30.00 to $25.00 and set an “outperform” rating on the stock in a report on Wednesday, February 21st. Needham & Company LLC reissued a “hold” rating on shares of Teladoc Health in a report on Friday, April 5th. Finally, DA Davidson cut their target price on shares of Teladoc Health from $22.00 to $18.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 21st. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Teladoc Health has a consensus rating of “Hold” and an average price target of $22.23.

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.