Zurcher Kantonalbank Zurich Cantonalbank Increases Stock Position in Teladoc Health, Inc. (NYSE:TDOC)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Teladoc Health, Inc. (NYSE:TDOC) by 15.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,181 shares of the health services provider’s stock after acquiring an additional 7,583 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Teladoc Health were worth $1,211,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. ARK Investment Management LLC lifted its holdings in shares of Teladoc Health by 4.5% during the 4th quarter. ARK Investment Management LLC now owns 21,224,565 shares of the health services provider’s stock valued at $457,389,000 after acquiring an additional 912,692 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Teladoc Health by 37.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,549,585 shares of the health services provider’s stock valued at $28,807,000 after acquiring an additional 418,909 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Teladoc Health by 9.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 658,435 shares of the health services provider’s stock valued at $12,240,000 after acquiring an additional 57,989 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Teladoc Health by 49.4% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 453,861 shares of the health services provider’s stock valued at $8,437,000 after acquiring an additional 149,976 shares in the last quarter. Finally, Swiss National Bank lifted its holdings in shares of Teladoc Health by 1.0% during the 3rd quarter. Swiss National Bank now owns 359,802 shares of the health services provider’s stock valued at $6,689,000 after acquiring an additional 3,600 shares in the last quarter. Institutional investors and hedge funds own 76.82% of the company’s stock.

Insider Buying and Selling

In related news, CEO Jason N. Gorevic sold 53,755 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $14.52, for a total transaction of $780,522.60. Following the sale, the chief executive officer now owns 653,073 shares in the company, valued at $9,482,619.96. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Jason N. Gorevic sold 53,755 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $14.52, for a total transaction of $780,522.60. Following the sale, the chief executive officer now owns 653,073 shares in the company, valued at $9,482,619.96. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Richard J. Napolitano sold 3,765 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $14.52, for a total transaction of $54,667.80. Following the sale, the chief accounting officer now owns 18,077 shares in the company, valued at approximately $262,478.04. The disclosure for this sale can be found here. Insiders have sold a total of 135,441 shares of company stock worth $2,038,251 over the last quarter. 1.63% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on TDOC shares. Oppenheimer reduced their target price on shares of Teladoc Health from $26.00 to $21.00 and set an “outperform” rating on the stock in a report on Friday. Barclays cut their price objective on shares of Teladoc Health from $25.00 to $20.00 and set an “overweight” rating on the stock in a report on Friday. Needham & Company LLC reiterated a “hold” rating on shares of Teladoc Health in a report on Friday. Piper Sandler cut their price objective on shares of Teladoc Health from $30.00 to $25.00 and set an “overweight” rating on the stock in a report on Wednesday, February 21st. Finally, Truist Financial cut their price objective on shares of Teladoc Health from $23.00 to $17.00 and set a “hold” rating on the stock in a report on Wednesday, March 6th. Eleven research analysts have rated the stock with a hold rating and six have given 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 $19.67.

Teladoc Health Stock Performance

Shares of Teladoc Health stock opened at $13.01 on Friday. The firm has a market cap of $2.20 billion, a PE ratio of -9.71 and a beta of 0.94. The firm’s 50-day simple moving average is $15.01 and its 200-day simple moving average is $17.77. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.47 and a current ratio of 3.54. Teladoc Health, Inc. has a 1 year low of $12.65 and a 1 year high of $30.41.

Teladoc Health (NYSE:TDOC) last issued its earnings results on Thursday, April 25th. The health services provider reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.02). Teladoc Health had a negative net margin of 8.47% and a negative return on equity of 9.22%. The company had revenue of $646.13 million during the quarter, compared to analyst estimates of $637.31 million. During the same quarter last year, the company posted ($0.37) EPS. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. Equities analysts forecast that Teladoc Health, Inc. will post -1.07 earnings per share for the current fiscal 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.