Artemis Investment Management LLP lowered its position in shares of Teladoc Health Inc (NYSE:TDOC) by 15.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 127,819 shares of the health services provider’s stock after selling 24,081 shares during the quarter. Artemis Investment Management LLP owned 0.18% of Teladoc Health worth $8,441,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Teladoc Health by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 6,285,848 shares of the health services provider’s stock worth $417,444,000 after acquiring an additional 138,464 shares during the last quarter. Waddell & Reed Financial Inc. boosted its position in Teladoc Health by 32.5% during the 2nd quarter. Waddell & Reed Financial Inc. now owns 2,335,837 shares of the health services provider’s stock worth $155,123,000 after acquiring an additional 572,388 shares during the last quarter. Riverbridge Partners LLC boosted its position in Teladoc Health by 15.2% during the 2nd quarter. Riverbridge Partners LLC now owns 1,754,498 shares of the health services provider’s stock worth $116,516,000 after acquiring an additional 230,937 shares during the last quarter. Macquarie Group Ltd. boosted its position in Teladoc Health by 59.9% during the 2nd quarter. Macquarie Group Ltd. now owns 1,490,807 shares of the health services provider’s stock worth $99,005,000 after acquiring an additional 558,650 shares during the last quarter. Finally, Jennison Associates LLC boosted its position in Teladoc Health by 60.6% during the 2nd quarter. Jennison Associates LLC now owns 1,172,135 shares of the health services provider’s stock worth $77,841,000 after acquiring an additional 442,140 shares during the last quarter.
In related news, President Peter A. Mcclennen sold 13,753 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $70.99, for a total value of $976,325.47. Following the sale, the president now owns 29,412 shares in the company, valued at approximately $2,087,957.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Andrew Turitz sold 9,158 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $62.27, for a total value of $570,268.66. Following the completion of the sale, the senior vice president now owns 6,827 shares in the company, valued at approximately $425,117.29. The disclosure for this sale can be found here. In the last 90 days, insiders sold 67,036 shares of company stock worth $4,622,050. 3.95% of the stock is owned by company insiders.
Teladoc Health (NYSE:TDOC) last released its quarterly earnings data on Wednesday, July 31st. The health services provider reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.01). Teladoc Health had a negative net margin of 21.85% and a negative return on equity of 10.64%. The company had revenue of $130.30 million during the quarter, compared to analyst estimates of $129.54 million. During the same period in the previous year, the company posted ($0.40) EPS. The company’s quarterly revenue was up 37.8% compared to the same quarter last year. As a group, sell-side analysts predict that Teladoc Health Inc will post -1.56 EPS for the current fiscal year.
TDOC has been the subject of a number of recent research reports. Deutsche Bank initiated coverage on Teladoc Health in a research report on Thursday, September 12th. They set a “buy” rating and a $76.00 price target for the company. Craig Hallum increased their price objective on Teladoc Health from $70.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Oppenheimer set a $83.00 price objective on Teladoc Health and gave the company a “buy” rating in a report on Friday, September 6th. Jefferies Financial Group reissued a “buy” rating and issued a $95.00 price objective on shares of Teladoc Health in a report on Tuesday, July 2nd. Finally, JPMorgan Chase & Co. increased their price objective on Teladoc Health from $82.00 to $83.00 and gave the company an “overweight” rating in a report on Thursday, September 19th. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $79.14.
Teladoc Health Company Profile
Teladoc Health, Inc provides telehealth services. It offers a portfolio of services and solutions covering 450 medical subspecialties, such as flu and upper respiratory infections, cancer, and congestive heart failure. The company provides its services through mobile devices, the Internet, video, and phone.
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