Jennison Associates LLC Invests $1.54 Million in Teladoc Health, Inc. (NYSE:TDOC)

Jennison Associates LLC bought a new position in shares of Teladoc Health, Inc. (NYSE:TDOC) in the third quarter, according to the company in its most recent filing with the SEC. The firm bought 168,166 shares of the health services provider’s stock, valued at approximately $1,544,000.

Several other institutional investors have also recently added to or reduced their stakes in TDOC. Clearline Capital LP boosted its stake in Teladoc Health by 395.6% in the second quarter. Clearline Capital LP now owns 4,364,201 shares of the health services provider’s stock worth $42,682,000 after purchasing an additional 3,483,665 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Teladoc Health by 195.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 95,307 shares of the health services provider’s stock worth $932,000 after buying an additional 63,028 shares in the last quarter. Mackenzie Financial Corp grew its holdings in Teladoc Health by 170.7% during the 2nd quarter. Mackenzie Financial Corp now owns 107,255 shares of the health services provider’s stock worth $1,049,000 after acquiring an additional 67,640 shares during the last quarter. Point72 Asset Management L.P. increased its position in Teladoc Health by 221.9% in the 2nd quarter. Point72 Asset Management L.P. now owns 5,303,123 shares of the health services provider’s stock valued at $51,865,000 after acquiring an additional 3,655,436 shares in the last quarter. Finally, Granite Bay Wealth Management LLC bought a new position in shares of Teladoc Health in the second quarter worth about $1,111,000. 76.82% of the stock is owned by institutional investors.

Teladoc Health Stock Up 2.1 %

NYSE:TDOC opened at $10.62 on Friday. Teladoc Health, Inc. has a 1 year low of $6.76 and a 1 year high of $22.54. The stock has a 50-day moving average price of $9.10 and a two-hundred day moving average price of $9.27. The stock has a market cap of $1.83 billion, a price-to-earnings ratio of -1.84 and a beta of 0.90. The company has a current ratio of 1.73, a quick ratio of 1.69 and a debt-to-equity ratio of 0.66.

Teladoc Health (NYSE:TDOC) last issued its quarterly earnings data on Wednesday, October 30th. The health services provider reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.10. Teladoc Health had a negative return on equity of 10.06% and a negative net margin of 37.91%. The business had revenue of $640.51 million during the quarter, compared to analyst estimates of $630.50 million. As a group, equities analysts expect that Teladoc Health, Inc. will post -1.16 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TDOC. Jefferies Financial Group raised their price target on shares of Teladoc Health from $8.00 to $10.00 and gave the company a “hold” rating in a report on Tuesday, September 17th. Royal Bank of Canada boosted their target price on Teladoc Health from $9.00 to $10.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. The Goldman Sachs Group assumed coverage on Teladoc Health in a report on Friday, November 15th. They issued a “buy” rating and a $14.00 price target on the stock. Stifel Nicolaus dropped their price objective on Teladoc Health from $16.00 to $9.00 and set a “hold” rating for the company in a report on Thursday, August 1st. Finally, Truist Financial reduced their target price on shares of Teladoc Health from $15.00 to $10.00 and set a “hold” rating on the stock in a research note on Friday, August 2nd. Fourteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $12.08.

Insider Activity

In other news, Director Thomas Mckinley purchased 4,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were bought at an average cost of $7.69 per share, for a total transaction of $30,760.00. Following the completion of the acquisition, the director now directly owns 39,077 shares in the company, valued at approximately $300,502.13. This trade represents a 11.40 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Michael Willem Waters sold 4,218 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $7.16, for a total value of $30,200.88. Following the transaction, the chief operating officer now owns 78,309 shares of the company’s stock, valued at approximately $560,692.44. The trade was a 5.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,051 shares of company stock worth $143,565 over the last quarter. 0.95% of the stock is currently owned by company insiders.

Teladoc Health Profile

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.