Renaissance Technologies LLC Purchases 763,265 Shares of Teladoc Health, Inc. (NYSE:TDOC)

Renaissance Technologies LLC lifted its position in shares of Teladoc Health, Inc. (NYSE:TDOC) by 15.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,674,542 shares of the health services provider’s stock after buying an additional 763,265 shares during the quarter. Renaissance Technologies LLC owned approximately 3.30% of Teladoc Health worth $51,582,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in TDOC. Versant Capital Management Inc lifted its position in Teladoc Health by 313.8% during the fourth quarter. Versant Capital Management Inc now owns 3,219 shares of the health services provider’s stock valued at $29,000 after acquiring an additional 2,441 shares during the last quarter. Whipplewood Advisors LLC purchased a new position in Teladoc Health in the fourth quarter worth approximately $29,000. Lindbrook Capital LLC lifted its position in shares of Teladoc Health by 78.9% during the 4th quarter. Lindbrook Capital LLC now owns 3,654 shares of the health services provider’s stock worth $33,000 after buying an additional 1,612 shares during the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new position in Teladoc Health in the 4th quarter valued at $60,000. Finally, Generali Investments Management Co LLC acquired a new position in shares of Teladoc Health during the 4th quarter worth $64,000. 76.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Oppenheimer cut their price target on shares of Teladoc Health from $14.00 to $12.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. The Goldman Sachs Group lowered their target price on Teladoc Health from $16.00 to $13.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. Piper Sandler decreased their target price on Teladoc Health from $13.00 to $12.00 and set an “overweight” rating for the company in a research report on Thursday, February 27th. Bank of America upped their price target on Teladoc Health from $11.50 to $13.50 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Teladoc Health in a research report on Thursday, February 27th. Eleven analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Teladoc Health currently has an average rating of “Hold” and a consensus target price of $11.26.

Teladoc Health Trading Up 10.1 %

TDOC opened at $7.88 on Thursday. Teladoc Health, Inc. has a one year low of $6.61 and a one year high of $15.21. The business has a 50 day simple moving average of $9.85 and a two-hundred day simple moving average of $9.71. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.73 and a quick ratio of 1.69. The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of -1.37 and a beta of 1.73.

Teladoc Health (NYSE:TDOC) last released its quarterly earnings results on Wednesday, February 26th. The health services provider reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.07). Teladoc Health had a negative net margin of 37.91% and a negative return on equity of 10.06%. The firm had revenue of $640.49 million for the quarter, compared to the consensus estimate of $639.44 million. Analysts predict that Teladoc Health, Inc. will post -1.16 EPS for the current year.

Insider Activity

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 directly owns 64,308 shares in the company, valued at approximately $541,473.36. This represents a 14.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.95% of the company’s stock.

Teladoc Health Company 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.