California Public Employees Retirement System Acquires 70,780 Shares of Teladoc Health, Inc. (NYSE:TDOC)

California Public Employees Retirement System boosted its holdings in Teladoc Health, Inc. (NYSE:TDOC) by 11.1% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 710,870 shares of the health services provider’s stock after acquiring an additional 70,780 shares during the quarter. California Public Employees Retirement System’s holdings in Teladoc Health were worth $118,211,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Bellecapital International Ltd. boosted its holdings in shares of Teladoc Health by 3.3% in the 2nd quarter. Bellecapital International Ltd. now owns 2,054 shares of the health services provider’s stock worth $342,000 after purchasing an additional 66 shares in the last quarter. Cullen Frost Bankers Inc. boosted its holdings in shares of Teladoc Health by 43.9% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 226 shares of the health services provider’s stock worth $38,000 after purchasing an additional 69 shares in the last quarter. GPS Wealth Strategies Group LLC boosted its holdings in shares of Teladoc Health by 1.5% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 5,140 shares of the health services provider’s stock worth $855,000 after purchasing an additional 74 shares in the last quarter. Eudaimonia Partners LLC boosted its holdings in shares of Teladoc Health by 1.9% in the 1st quarter. Eudaimonia Partners LLC now owns 4,191 shares of the health services provider’s stock worth $762,000 after purchasing an additional 77 shares in the last quarter. Finally, Kovack Advisors Inc. boosted its holdings in shares of Teladoc Health by 2.2% in the 2nd quarter. Kovack Advisors Inc. now owns 3,675 shares of the health services provider’s stock worth $611,000 after purchasing an additional 78 shares in the last quarter. Hedge funds and other institutional investors own 79.43% of the company’s stock.

TDOC has been the subject of several analyst reports. KeyCorp dropped their target price on Teladoc Health from $220.00 to $180.00 and set an “overweight” rating for the company in a report on Wednesday, July 28th. Oppenheimer dropped their target price on Teladoc Health from $250.00 to $220.00 and set an “outperform” rating for the company in a report on Wednesday, July 28th. Argus cut Teladoc Health from a “buy” rating to a “hold” rating in a report on Monday, August 2nd. Citigroup dropped their price objective on Teladoc Health from $260.00 to $225.00 and set a “buy” rating for the company in a report on Wednesday, July 28th. Finally, Needham & Company LLC dropped their price objective on Teladoc Health from $235.00 to $205.00 and set a “buy” rating for the company in a report on Wednesday, July 28th. Twelve equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $217.75.

In other Teladoc Health news, COO David William Sides sold 3,420 shares of the stock in a transaction on Friday, July 30th. The stock was sold at an average price of $154.38, for a total transaction of $527,979.60. Following the sale, the chief operating officer now directly owns 14,451 shares in the company, valued at approximately $2,230,945.38. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Arnnon Geshuri sold 4,050 shares of the stock in a transaction on Thursday, August 26th. The shares were sold at an average price of $143.29, for a total value of $580,324.50. Following the sale, the insider now owns 88,908 shares in the company, valued at $12,739,627.32. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,470 shares of company stock valued at $2,609,504. 6.47% of the stock is owned by corporate insiders.

TDOC stock opened at $136.02 on Thursday. Teladoc Health, Inc. has a twelve month low of $120.67 and a twelve month high of $308.00. The company has a quick ratio of 3.79, a current ratio of 4.00 and a debt-to-equity ratio of 0.08. The firm has a market cap of $21.66 billion, a PE ratio of -23.99 and a beta of 0.24. The business has a 50 day moving average of $138.60 and a 200 day moving average of $152.83.

Teladoc Health (NYSE:TDOC) last posted its quarterly earnings data on Tuesday, July 27th. The health services provider reported ($0.86) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.59) by ($0.27). Teladoc Health had a negative net margin of 46.86% and a negative return on equity of 1.29%. The company had revenue of $503.14 million for the quarter, compared to the consensus estimate of $499.85 million. During the same period last year, the business earned ($0.34) EPS. The firm’s quarterly revenue was up 108.7% on a year-over-year basis. On average, research analysts expect that Teladoc Health, Inc. will post -3.53 earnings per share for the current fiscal year.

Teladoc Health Company Profile

Teladoc Health, Inc engages in the provision of telehealthcare services using a technology platform via mobile devices, the Internet, video and phone. Its portfolio of services and solutions covers medical subspecialties from non-urgent, episodic needs like flu and upper respiratory infections, to chronic, complicated medical conditions like cancer and congestive heart failure.

Further Reading: How to invest in blue-chip stocks

Want to see what other hedge funds are holding TDOC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Teladoc Health, Inc. (NYSE:TDOC).

Institutional Ownership by Quarter for Teladoc Health (NYSE:TDOC)

Receive News & Ratings for Teladoc Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Teladoc Health and related companies with MarketBeat.com's FREE daily email newsletter.