Principal Financial Group Inc. Lowers Stock Holdings in Teladoc Health, Inc. (NYSE:TDOC)

Principal Financial Group Inc. lessened its holdings in Teladoc Health, Inc. (NYSE:TDOC) by 29.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 12,475 shares of the health services provider’s stock after selling 5,199 shares during the quarter. Principal Financial Group Inc.’s holdings in Teladoc Health were worth $115,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Blue Trust Inc. boosted its stake in shares of Teladoc Health by 84.5% in the third quarter. Blue Trust Inc. now owns 4,048 shares of the health services provider’s stock worth $40,000 after acquiring an additional 1,854 shares during the period. Doheny Asset Management CA purchased a new stake in Teladoc Health during the 2nd quarter valued at approximately $46,000. Benjamin F. Edwards & Company Inc. raised its position in shares of Teladoc Health by 209.8% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 5,015 shares of the health services provider’s stock valued at $49,000 after buying an additional 3,396 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of Teladoc Health by 194.2% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,891 shares of the health services provider’s stock worth $67,000 after buying an additional 4,549 shares in the last quarter. Finally, Signaturefd LLC boosted its position in shares of Teladoc Health by 162.7% during the third quarter. Signaturefd LLC now owns 7,535 shares of the health services provider’s stock worth $69,000 after acquiring an additional 4,667 shares during the last quarter. 76.82% of the stock is owned by institutional investors.

Teladoc Health Price Performance

NYSE:TDOC opened at $9.98 on Wednesday. The firm has a market cap of $1.72 billion, a price-to-earnings ratio of -1.73 and a beta of 1.01. The firm’s fifty day moving average is $9.92 and its two-hundred day moving average is $9.03. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.69 and a current ratio of 1.73. Teladoc Health, Inc. has a one year low of $6.76 and a one year high of $22.16.

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

Insider Transactions at Teladoc Health

In related news, insider Carlos Nueno sold 2,389 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $11.93, for a total transaction of $28,500.77. Following the completion of the sale, the insider now directly owns 2,890 shares in the company, valued at approximately $34,477.70. This trade represents a 45.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on TDOC. Royal Bank of Canada raised their price objective on Teladoc Health from $9.00 to $10.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. The Goldman Sachs Group assumed coverage on Teladoc Health in a research note on Friday, November 15th. They issued a “buy” rating and a $14.00 price objective on the stock. Jefferies Financial Group increased their target price on Teladoc Health from $8.00 to $10.00 and gave the company a “hold” rating in a research report on Tuesday, September 17th. TD Cowen reduced their price target on shares of Teladoc Health from $9.00 to $8.00 and set a “hold” rating on the stock in a research report on Thursday, October 31st. Finally, Piper Sandler reiterated an “overweight” rating and set a $13.00 price objective (up previously from $11.00) on shares of Teladoc Health in a research report on Wednesday, December 4th. Fourteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $12.24.

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.