Sumitomo Mitsui Trust Holdings Inc. Has $40.46 Million Stock Holdings in Teladoc Health, Inc. (NYSE:TDOC)

Sumitomo Mitsui Trust Holdings Inc. decreased its holdings in shares of Teladoc Health, Inc. (NYSE:TDOC) by 42.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,136,936 shares of the health services provider’s stock after selling 3,044,752 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 2.44% of Teladoc Health worth $40,459,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Teladoc Health by 11.8% during the 4th quarter. Vanguard Group Inc. now owns 17,515,127 shares of the health services provider’s stock valued at $377,451,000 after purchasing an additional 1,855,480 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Teladoc Health by 25.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,834,422 shares of the health services provider’s stock valued at $82,636,000 after purchasing an additional 767,999 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Teladoc Health by 6.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,654,116 shares of the health services provider’s stock valued at $35,646,000 after purchasing an additional 104,531 shares in the last quarter. Allianz Asset Management GmbH boosted its position in shares of Teladoc Health by 15.4% during the 4th quarter. Allianz Asset Management GmbH now owns 604,238 shares of the health services provider’s stock valued at $13,021,000 after purchasing an additional 80,805 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Teladoc Health during the 4th quarter valued at about $9,714,000. Institutional investors own 76.82% of the company’s stock.

Teladoc Health Stock Performance

Shares of TDOC opened at $7.11 on Monday. The company has a current ratio of 1.66, a quick ratio of 1.62 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of -5.04 and a beta of 0.93. The stock has a 50 day moving average of $9.09 and a 200 day moving average of $12.69. Teladoc Health, Inc. has a 12 month low of $6.77 and a 12 month high of $23.59.

Insider Activity at Teladoc Health

In other Teladoc Health news, Director Karen L. Daniel sold 9,834 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $11.90, for a total value of $117,024.60. Following the completion of the sale, the director now directly owns 36,995 shares of the company’s stock, valued at $440,240.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Teladoc Health news, Director Karen L. Daniel sold 9,834 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $11.90, for a total value of $117,024.60. Following the completion of the sale, the director now directly owns 36,995 shares of the company’s stock, valued at $440,240.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas Mckinley bought 7,000 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was purchased at an average cost of $7.57 per share, with a total value of $52,990.00. Following the completion of the transaction, the director now directly owns 31,077 shares of the company’s stock, valued at $235,252.89. The disclosure for this purchase can be found here. Over the last three months, insiders sold 52,714 shares of company stock valued at $472,714. 0.95% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages recently commented on TDOC. Deutsche Bank Aktiengesellschaft cut their target price on Teladoc Health from $15.00 to $10.00 and set a “hold” rating on the stock in a research report on Friday, August 2nd. Needham & Company LLC reiterated a “hold” rating on shares of Teladoc Health in a report on Thursday, August 1st. Piper Sandler cut their price target on Teladoc Health from $25.00 to $10.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Wells Fargo & Company cut their price target on Teladoc Health from $17.00 to $15.00 and set an “equal weight” rating on the stock in a report on Monday, April 29th. Finally, Barclays cut their price target on Teladoc Health from $20.00 to $10.00 and set an “overweight” rating on the stock in a report on Thursday, August 1st. Fourteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $13.56.

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.