The Manufacturers Life Insurance Company Sells 2,416 Shares of Teladoc Health, Inc. (NYSE:TDOC)

The Manufacturers Life Insurance Company lessened its position in Teladoc Health, Inc. (NYSE:TDOC) by 2.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 85,580 shares of the health services provider’s stock after selling 2,416 shares during the period. The Manufacturers Life Insurance Company’s holdings in Teladoc Health were worth $778,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of TDOC. Vanguard Group Inc. increased its position in shares of Teladoc Health by 5.9% during the fourth quarter. Vanguard Group Inc. now owns 18,463,155 shares of the health services provider’s stock valued at $167,830,000 after buying an additional 1,029,829 shares during the period. Renaissance Technologies LLC increased its position in shares of Teladoc Health by 15.5% during the fourth quarter. Renaissance Technologies LLC now owns 5,674,542 shares of the health services provider’s stock valued at $51,582,000 after buying an additional 763,265 shares during the period. Nisa Investment Advisors LLC increased its position in shares of Teladoc Health by 20,936.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 426,206 shares of the health services provider’s stock valued at $3,874,000 after buying an additional 424,180 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Teladoc Health by 18.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,443,713 shares of the health services provider’s stock valued at $22,213,000 after buying an additional 384,528 shares during the period. Finally, Wealthfront Advisers LLC purchased a new position in shares of Teladoc Health during the fourth quarter valued at about $3,364,000. Hedge funds and other institutional investors own 76.82% of the company’s stock.

Teladoc Health Trading Down 3.9%

Shares of NYSE TDOC opened at $7.32 on Thursday. The firm’s 50 day moving average price is $7.64 and its 200-day moving average price is $9.38. The company has a market cap of $1.28 billion, a PE ratio of -1.27 and a beta of 1.82. Teladoc Health, Inc. has a 52-week low of $6.35 and a 52-week high of $15.21. 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 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 firm had revenue of $640.49 million during the quarter, compared to the consensus estimate of $639.44 million. Teladoc Health had a negative return on equity of 10.06% and a negative net margin of 37.91%. On average, equities research analysts expect that Teladoc Health, Inc. will post -1.16 EPS for the current fiscal year.

Insider Transactions at Teladoc Health

In other news, insider Adam C. Vandervoort sold 11,011 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $8.42, for a total value of $92,712.62. Following the transaction, the insider now owns 64,308 shares in the company, valued at approximately $541,473.36. This represents a 14.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.58% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. The Goldman Sachs Group reduced their price target on shares of Teladoc Health from $13.00 to $10.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Royal Bank of Canada boosted their price target on shares of Teladoc Health from $11.00 to $12.00 and gave the company an “outperform” rating in a research report on Friday, January 24th. Bank of America reduced their price target on shares of Teladoc Health from $9.50 to $8.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Canaccord Genuity Group dropped their price objective on shares of Teladoc Health from $14.00 to $12.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Finally, Wells Fargo & Company dropped their price objective on shares of Teladoc Health from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 8th. Twelve equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Teladoc Health currently has a consensus rating of “Hold” and an average price target of $9.71.

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.