Teladoc Health, Inc. (NYSE:TDOC) Shares Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Teladoc Health, Inc. (NYSE:TDOC) by 15.5% during the third quarter, HoldingsChannel reports. The firm owned 1,701,161 shares of the health services provider’s stock after purchasing an additional 228,004 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Teladoc Health were worth $15,617,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Signaturefd LLC increased its position in shares of Teladoc Health by 148.7% in the 2nd quarter. Signaturefd LLC now owns 2,868 shares of the health services provider’s stock valued at $28,000 after acquiring an additional 1,715 shares during the period. International Assets Investment Management LLC acquired a new position in shares of Teladoc Health in the second quarter valued at about $29,000. Blue Trust Inc. raised 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 purchasing an additional 1,854 shares during the last quarter. Doheny Asset Management CA acquired a new stake in shares of Teladoc Health during the second quarter worth about $46,000. Finally, Benjamin F. Edwards & Company Inc. boosted its position in Teladoc Health by 209.8% in 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. Hedge funds and other institutional investors own 76.82% of the company’s stock.

Teladoc Health Stock Up 0.8 %

TDOC opened at $9.00 on Thursday. The firm’s fifty day simple moving average is $9.00 and its two-hundred day simple moving average is $9.31. The company has a quick ratio of 1.69, a current ratio of 1.73 and a debt-to-equity ratio of 0.66. Teladoc Health, Inc. has a 52-week low of $6.76 and a 52-week high of $22.54.

Teladoc Health (NYSE:TDOC) last posted its quarterly earnings data on Wednesday, October 30th. The health services provider reported ($0.19) earnings per share (EPS) for the quarter, topping 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 company had revenue of $640.51 million for the quarter, compared to analysts’ expectations of $630.50 million. As a group, research analysts predict that Teladoc Health, Inc. will post -1.17 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on TDOC shares. Piper Sandler reduced their price target on shares of Teladoc Health from $25.00 to $10.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. JPMorgan Chase & Co. decreased their target price on shares of Teladoc Health from $16.00 to $9.00 and set a “neutral” rating for the company in a research report on Monday, August 26th. Canaccord Genuity Group cut their price target on Teladoc Health from $25.00 to $17.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st. TD Cowen reduced their price objective on Teladoc Health from $9.00 to $8.00 and set a “hold” rating for the company in a research note on Thursday, October 31st. Finally, Needham & Company LLC restated a “hold” rating on shares of Teladoc Health in a research note on Thursday, August 1st. Fourteen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Teladoc Health has a consensus rating of “Hold” and an average target price of $12.08.

Insider Transactions at Teladoc Health

In related news, Director Thomas Mckinley bought 4,000 shares of the stock in a transaction dated Thursday, September 12th. The shares were acquired at an average cost of $7.69 per share, for a total transaction of $30,760.00. Following 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mala Murthy sold 8,750 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $7.16, for a total value of $62,650.00. Following the completion of the sale, the chief financial officer now directly owns 85,767 shares of the company’s stock, valued at approximately $614,091.72. This represents a 9.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,051 shares of company stock valued at $143,565 over the last ninety days. Insiders own 0.95% of the company’s stock.

Teladoc Health Company 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.