Geode Capital Management LLC Buys 56,864 Shares of Teladoc Health, Inc. (NYSE:TDOC)

Geode Capital Management LLC increased its stake in shares of Teladoc Health, Inc. (NYSE:TDOC) by 1.5% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 3,925,167 shares of the health services provider’s stock after acquiring an additional 56,864 shares during the period. Geode Capital Management LLC’s holdings in Teladoc Health were worth $36,042,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Rubric Capital Management LP acquired a new position in Teladoc Health in the second quarter valued at about $45,267,000. Point72 Asset Management L.P. increased its holdings in shares of Teladoc Health by 221.9% during the second quarter. Point72 Asset Management L.P. now owns 5,303,123 shares of the health services provider’s stock worth $51,865,000 after buying an additional 3,655,436 shares in the last quarter. Clearline Capital LP raised its stake in shares of 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 valued at $42,682,000 after acquiring an additional 3,483,665 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Teladoc Health in the 3rd quarter worth approximately $15,801,000. Finally, Maple Rock Capital Partners Inc. bought a new stake in Teladoc Health during the 3rd quarter worth approximately $11,291,000. Institutional investors and hedge funds own 76.82% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on TDOC. Jefferies Financial Group lifted their price objective on Teladoc Health from $8.00 to $10.00 and gave the company a “hold” rating in a research report on Tuesday, September 17th. Royal Bank of Canada upped their price target on shares of Teladoc Health from $9.00 to $10.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Teladoc Health from $10.00 to $12.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Barclays boosted their target price on shares of Teladoc Health from $10.00 to $12.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Finally, The Goldman Sachs Group assumed coverage on shares of Teladoc Health in a research note on Friday, November 15th. They set a “buy” rating and a $14.00 price target on the stock. Fourteen analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Teladoc Health presently has an average rating of “Hold” and a consensus target price of $12.24.

Insider Buying and Selling at Teladoc Health

In other Teladoc Health news, insider Carlos Nueno sold 2,389 shares of Teladoc Health stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $11.93, for a total value of $28,500.77. Following the transaction, the insider now owns 2,890 shares of the company’s stock, valued at approximately $34,477.70. The trade was a 45.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.95% of the company’s stock.

Teladoc Health Stock Performance

Shares of NYSE:TDOC opened at $9.26 on Thursday. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of -1.60 and a beta of 0.97. The firm’s 50 day simple moving average is $9.84 and its 200 day simple moving average is $9.08. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.73 and a quick ratio of 1.69. Teladoc Health, Inc. has a fifty-two week low of $6.76 and a fifty-two week high of $22.54.

Teladoc Health (NYSE:TDOC) last announced its quarterly earnings results on Wednesday, October 30th. The health services provider reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.10. Teladoc Health had a negative net margin of 37.91% and a negative return on equity of 10.06%. The company had revenue of $640.51 million for the quarter, compared to analysts’ expectations of $630.50 million. As a group, sell-side analysts forecast that Teladoc Health, Inc. will post -1.16 earnings per share for the current year.

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.