ARK Investment Management LLC Boosts Stake in Teladoc Health, Inc. (NYSE:TDOC)

ARK Investment Management LLC boosted its position in shares of Teladoc Health, Inc. (NYSE:TDOC) by 4.5% in the fourth quarter, Holdings Channel reports. The fund owned 21,224,565 shares of the health services provider’s stock after purchasing an additional 912,692 shares during the quarter. Teladoc Health comprises 2.7% of ARK Investment Management LLC’s investment portfolio, making the stock its 12th biggest holding. ARK Investment Management LLC owned 0.13% of Teladoc Health worth $457,389,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Granite Bay Wealth Management LLC purchased a new stake in Teladoc Health during the third quarter valued at $3,675,000. Deutsche Bank AG increased its position in Teladoc Health by 12.4% in the third quarter. Deutsche Bank AG now owns 301,147 shares of the health services provider’s stock worth $5,598,000 after buying an additional 33,287 shares in the last quarter. QRG Capital Management Inc. bought a new position in shares of Teladoc Health in the third quarter worth about $392,000. Sherbrooke Park Advisers LLC bought a new position in shares of Teladoc Health in the third quarter worth about $680,000. Finally, Ergoteles LLC bought a new position in shares of Teladoc Health in the second quarter worth about $6,772,000. Hedge funds and other institutional investors own 76.82% of the company’s stock.

Teladoc Health Price Performance

Shares of NYSE TDOC opened at $15.27 on Thursday. The business’s 50 day moving average price is $17.60 and its 200-day moving average price is $18.60. Teladoc Health, Inc. has a fifty-two week low of $14.29 and a fifty-two week high of $30.41. The company has a current ratio of 3.54, a quick ratio of 3.47 and a debt-to-equity ratio of 0.66.

Teladoc Health (NYSE:TDOC) last released its quarterly earnings data on Tuesday, February 20th. The health services provider reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.05. The company had revenue of $660.50 million for the quarter, compared to the consensus estimate of $670.79 million. Teladoc Health had a negative return on equity of 9.22% and a negative net margin of 8.47%. Teladoc Health’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period last year, the business posted ($0.23) EPS. As a group, equities research analysts forecast that Teladoc Health, Inc. will post -1.07 earnings per share for the current year.

Wall Street Analyst Weigh In

TDOC has been the subject of a number of research reports. Cantor Fitzgerald initiated coverage on Teladoc Health in a research note on Thursday, February 29th. They set an “overweight” rating and a $22.00 price target for the company. Barclays dropped their price target on Teladoc Health from $26.00 to $25.00 and set an “overweight” rating for the company in a research note on Wednesday, February 21st. SVB Leerink initiated coverage on Teladoc Health in a research note on Monday, February 26th. They set a “market perform” rating and a $17.00 price target for the company. Canaccord Genuity Group dropped their price target on Teladoc Health from $34.00 to $28.00 and set a “buy” rating for the company in a research note on Wednesday, February 21st. Finally, Royal Bank of Canada dropped their price target on Teladoc Health from $30.00 to $25.00 and set an “outperform” rating for the company in a research note on Wednesday, February 21st. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Teladoc Health currently has an average rating of “Hold” and an average target price of $22.43.

Insiders Place Their Bets

In other Teladoc Health news, insider Laizer Kornwasser sold 7,882 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $19.18, for a total transaction of $151,176.76. Following the transaction, the insider now directly owns 57,223 shares in the company, valued at approximately $1,097,537.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Teladoc Health news, insider Laizer Kornwasser sold 7,882 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $19.18, for a total transaction of $151,176.76. Following the sale, the insider now owns 57,223 shares of the company’s stock, valued at approximately $1,097,537.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Andrew Turitz sold 6,190 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $14.52, for a total value of $89,878.80. Following the sale, the executive vice president now directly owns 39,429 shares in the company, valued at approximately $572,509.08. The disclosure for this sale can be found here. Insiders have sold 134,441 shares of company stock worth $2,025,041 in the last ninety days. 1.63% of the stock is owned by company insiders.

About Teladoc Health

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.