Putnam Investments LLC decreased its holdings in shares of Teladoc Health Inc (NYSE:TDOC) by 41.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 164,040 shares of the health services provider’s stock after selling 117,440 shares during the period. Putnam Investments LLC owned approximately 0.24% of Teladoc Health worth $9,523,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TDOC. Bank of America Corp DE grew its holdings in shares of Teladoc Health by 82.8% in the 2nd quarter. Bank of America Corp DE now owns 1,883,185 shares of the health services provider’s stock worth $109,318,000 after acquiring an additional 853,076 shares during the period. Summit Partners L P acquired a new stake in Teladoc Health during the 2nd quarter valued at $37,772,000. Westwood Management Corp IL grew its holdings in Teladoc Health by 1,342.6% during the 2nd quarter. Westwood Management Corp IL now owns 585,700 shares of the health services provider’s stock valued at $34,000,000 after buying an additional 545,100 shares during the last quarter. BlackRock Inc. grew its holdings in Teladoc Health by 9.0% during the 2nd quarter. BlackRock Inc. now owns 5,318,850 shares of the health services provider’s stock valued at $308,759,000 after buying an additional 437,136 shares during the last quarter. Finally, OppenheimerFunds Inc. acquired a new stake in Teladoc Health during the 2nd quarter valued at $20,163,000.
TDOC has been the topic of a number of recent analyst reports. KeyCorp increased their price target on Teladoc Health from $90.00 to $94.00 and gave the stock an “overweight” rating in a research note on Friday, September 28th. SunTrust Banks increased their price target on Teladoc Health to $100.00 and gave the stock a “buy” rating in a research note on Monday, September 24th. Oppenheimer increased their price target on Teladoc Health from $68.00 to $89.00 and gave the stock an “outperform” rating in a research note on Friday, September 28th. Citigroup increased their target price on Teladoc Health from $80.00 to $88.00 and gave the stock a “buy” rating in a research report on Friday, September 21st. Finally, Piper Jaffray Companies increased their target price on Teladoc Health to $84.00 and gave the stock an “overweight” rating in a research report on Friday, September 21st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $79.79.
In related news, insider Lewis Levy sold 1,284 shares of Teladoc Health stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $77.00, for a total value of $98,868.00. Following the completion of the transaction, the insider now directly owns 1,284 shares in the company, valued at $98,868. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Peter A. Mcclennen sold 91,072 shares of Teladoc Health stock in a transaction dated Monday, July 16th. The stock was sold at an average price of $65.84, for a total value of $5,996,180.48. Following the completion of the transaction, the president now owns 61,660 shares of the company’s stock, valued at $4,059,694.40. The disclosure for this sale can be found here. Insiders have sold 269,261 shares of company stock valued at $19,013,966 over the last 90 days. Insiders own 3.95% of the company’s stock.
Shares of Teladoc Health stock traded up $3.51 during trading hours on Friday, hitting $65.94. 2,619,045 shares of the company’s stock traded hands, compared to its average volume of 1,270,685. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.14 and a quick ratio of 3.14. The company has a market capitalization of $6.01 billion, a PE ratio of -39.96 and a beta of 0.57. Teladoc Health Inc has a twelve month low of $27.30 and a twelve month high of $89.05.
Teladoc Health (NYSE:TDOC) last announced its earnings results on Wednesday, August 1st. The health services provider reported ($0.37) earnings per share for the quarter, beating the consensus estimate of ($0.38) by $0.01. The company had revenue of $94.60 million during the quarter, compared to the consensus estimate of $91.56 million. Teladoc Health had a negative return on equity of 19.10% and a negative net margin of 37.78%. The company’s revenue was up 112.1% on a year-over-year basis. During the same period last year, the firm earned ($0.28) earnings per share. On average, equities analysts expect that Teladoc Health Inc will post -1.51 earnings per share for the current fiscal year.
Teladoc Health Company Profile
Teladoc Health, Inc provides telehealth services worldwide. 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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