Teladoc Health, Inc. (NYSE:TDOC) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. reduced its stake in shares of Teladoc Health, Inc. (NYSE:TDOC) by 57.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 637,979 shares of the health services provider’s stock after selling 861,343 shares during the quarter. Federated Hermes Inc. owned about 0.39% of Teladoc Health worth $13,748,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Byrne Asset Management LLC bought a new position in Teladoc Health during the 3rd quarter worth $60,000. Westside Investment Management Inc. grew its stake in shares of Teladoc Health by 46.2% in the fourth quarter. Westside Investment Management Inc. now owns 4,112 shares of the health services provider’s stock worth $89,000 after purchasing an additional 1,300 shares in the last quarter. River & Mercantile Asset Management LLP bought a new position in shares of Teladoc Health in the third quarter worth $138,000. Skandinaviska Enskilda Banken AB publ bought a new position in shares of Teladoc Health in the third quarter worth $158,000. Finally, Mirabella Financial Services LLP bought a new position in shares of Teladoc Health in the third quarter worth $200,000. 76.82% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Teladoc Health news, insider Laizer Kornwasser sold 7,882 shares of the business’s stock in a transaction that occurred 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 owns 57,223 shares of the company’s stock, valued at $1,097,537.14. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, insider Laizer Kornwasser sold 7,882 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $19.18, for a total value of $151,176.76. Following the completion of the sale, the insider now directly owns 57,223 shares in the company, valued at $1,097,537.14. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Daniel Trencher sold 6,780 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $14.52, for a total value of $98,445.60. Following the completion of the sale, the insider now owns 28,192 shares of the company’s stock, valued at $409,347.84. The disclosure for this sale can be found here. Insiders have sold a total of 135,441 shares of company stock valued at $2,038,251 over the last 90 days. 1.63% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on TDOC shares. SVB Leerink started coverage on Teladoc Health in a research note on Monday, February 26th. They issued a “market perform” rating and a $17.00 price target for the company. Royal Bank of Canada decreased 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. Canaccord Genuity Group decreased 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. Truist Financial cut their price objective on Teladoc Health from $23.00 to $17.00 and set a “hold” rating for the company in a report on Wednesday, March 6th. Finally, Piper Sandler cut their price objective on Teladoc Health from $30.00 to $25.00 and set an “overweight” rating for the company in a report on Wednesday, February 21st. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Teladoc Health has an average rating of “Hold” and a consensus target price of $22.23.

Teladoc Health Stock Up 2.5 %

TDOC stock opened at $13.30 on Tuesday. The business’s 50-day moving average price is $15.43 and its two-hundred day moving average price is $17.87. 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, Inc. has a 1-year low of $12.85 and a 1-year high of $30.41.

Teladoc Health (NYSE:TDOC) last issued its quarterly earnings results on Tuesday, February 20th. The health services provider reported ($0.17) EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.05. The company had revenue of $660.50 million for the quarter, compared to analyst estimates of $670.79 million. Teladoc Health had a negative return on equity of 9.22% and a negative net margin of 8.47%. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.23) earnings per share. On average, research analysts expect that Teladoc Health, Inc. will post -1.07 earnings per share for the current year.

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.