KLP Kapitalforvaltning AS Acquires New Shares in Teladoc Health, Inc. (NYSE:TDOC)

KLP Kapitalforvaltning AS bought a new position in shares of Teladoc Health, Inc. (NYSE:TDOC) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 32,700 shares of the health services provider’s stock, valued at approximately $297,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Versant Capital Management Inc lifted its holdings in Teladoc Health by 313.8% during the fourth quarter. Versant Capital Management Inc now owns 3,219 shares of the health services provider’s stock worth $29,000 after acquiring an additional 2,441 shares in the last quarter. Whipplewood Advisors LLC bought a new position in shares of Teladoc Health during the 4th quarter valued at about $29,000. Lindbrook Capital LLC grew its position in shares of Teladoc Health by 78.9% in the 4th quarter. Lindbrook Capital LLC now owns 3,654 shares of the health services provider’s stock valued at $33,000 after purchasing an additional 1,612 shares during the period. Generali Investments Management Co LLC acquired a new stake in Teladoc Health during the 4th quarter worth approximately $64,000. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Teladoc Health by 22.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,978 shares of the health services provider’s stock worth $73,000 after acquiring an additional 1,439 shares during the period. 76.82% of the stock is owned by institutional investors.

Teladoc Health Stock Performance

NYSE:TDOC opened at $7.26 on Monday. Teladoc Health, Inc. has a fifty-two week low of $6.76 and a fifty-two week high of $15.21. The company has a 50 day simple moving average of $10.14 and a two-hundred day simple moving average of $9.78. The company has a market capitalization of $1.26 billion, a PE ratio of -1.26 and a beta of 1.73. 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 (NYSE:TDOC) last issued its quarterly earnings results on Wednesday, February 26th. The health services provider reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.07). The business had revenue of $640.49 million during the quarter, compared to analyst estimates of $639.44 million. Teladoc Health had a negative net margin of 37.91% and a negative return on equity of 10.06%. Research analysts anticipate that Teladoc Health, Inc. will post -1.16 earnings per share for the current year.

Analysts Set New Price Targets

TDOC has been the subject of a number of research reports. Bank of America increased their price objective on Teladoc Health from $11.50 to $13.50 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Piper Sandler lowered their price objective on shares of Teladoc Health from $13.00 to $12.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. Needham & Company LLC restated a “hold” rating on shares of Teladoc Health in a report on Thursday, February 27th. Oppenheimer decreased their price objective on Teladoc Health from $14.00 to $12.00 and set an “outperform” rating for the company in a report on Friday, January 24th. Finally, Royal Bank of Canada raised their price target on Teladoc Health from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Friday, January 24th. Eleven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Teladoc Health presently has a consensus rating of “Hold” and an average price target of $11.26.

Insider Activity at Teladoc Health

In related news, insider Adam C. Vandervoort sold 11,011 shares of the company’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $8.42, for a total value of $92,712.62. Following the sale, the insider now owns 64,308 shares in the company, valued at $541,473.36. This represents a 14.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.95% of the stock is currently owned by corporate insiders.

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.