Fmr LLC lessened its stake in shares of Teladoc Health Inc (NYSE:TDOC) by 14.5% in the third quarter, Holdings Channel reports. The institutional investor owned 7,440,199 shares of the health services provider’s stock after selling 1,259,124 shares during the quarter. Fmr LLC owned approximately 0.11% of Teladoc Health worth $642,461,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Wesbanco Bank Inc. bought a new stake in Teladoc Health during the third quarter valued at approximately $953,000. American International Group Inc. lifted its position in Teladoc Health by 10.0% during the third quarter. American International Group Inc. now owns 44,462 shares of the health services provider’s stock valued at $3,839,000 after purchasing an additional 4,043 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Teladoc Health by 11.8% during the third quarter. Bank of New York Mellon Corp now owns 525,875 shares of the health services provider’s stock valued at $45,410,000 after purchasing an additional 55,522 shares during the last quarter. Artemis Investment Management LLP bought a new stake in Teladoc Health during the third quarter valued at approximately $20,114,000. Finally, National Asset Management Inc. bought a new stake in Teladoc Health during the third quarter valued at approximately $224,000.
Shares of TDOC opened at $55.75 on Monday. The company has a market capitalization of $3.91 billion, a PE ratio of -33.79 and a beta of 0.96. The company has a debt-to-equity ratio of 0.40, a current ratio of 8.99 and a quick ratio of 8.99. Teladoc Health Inc has a fifty-two week low of $30.85 and a fifty-two week high of $89.05.
Several brokerages have issued reports on TDOC. Jefferies Financial Group set a $95.00 target price on shares of Teladoc Health and gave the company a “buy” rating in a research report on Friday, November 2nd. Chardan Capital lifted their target price on shares of Teladoc Health from $98.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, November 2nd. Craig Hallum boosted their price objective on shares of Teladoc Health from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, October 15th. TheStreet lowered shares of Teladoc Health from a “c” rating to a “d+” rating in a report on Tuesday, October 9th. Finally, Credit Suisse Group began coverage on shares of Teladoc Health in a report on Monday, October 8th. They issued a “neutral” rating and a $80.00 price objective for the company. Four analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $85.06.
In other Teladoc Health news, SVP Andrew Turitz sold 8,202 shares of the business’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $77.42, for a total transaction of $634,998.84. Following the transaction, the senior vice president now directly owns 9,378 shares of the company’s stock, valued at approximately $726,044.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Jason N. Gorevic sold 35,000 shares of the business’s stock in a transaction on Monday, November 19th. The shares were sold at an average price of $54.80, for a total transaction of $1,918,000.00. Following the transaction, the chief executive officer now directly owns 541,184 shares in the company, valued at $29,656,883.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 245,929 shares of company stock worth $17,142,945. 3.95% of the stock is owned by insiders.
Teladoc Health 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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