Zevenbergen Capital Investments LLC raised its stake in Teladoc Health, Inc. (NYSE:TDOC) by 5.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 954,703 shares of the health services provider’s stock after acquiring an additional 51,552 shares during the period. Teladoc Health makes up 2.8% of Zevenbergen Capital Investments LLC’s portfolio, making the stock its 14th biggest position. Zevenbergen Capital Investments LLC owned approximately 0.60% of Teladoc Health worth $158,758,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Princeton Global Asset Management LLC purchased a new stake in shares of Teladoc Health in the second quarter worth $30,000. Psagot Investment House Ltd. bought a new position in shares of Teladoc Health during the second quarter valued at $30,000. Gables Capital Management Inc. bought a new position in shares of Teladoc Health during the second quarter valued at $33,000. PARK CIRCLE Co bought a new position in shares of Teladoc Health during the second quarter valued at $33,000. Finally, Marshall Wace North America L.P. bought a new position in shares of Teladoc Health during the first quarter valued at $35,000. 79.43% of the stock is currently owned by hedge funds and other institutional investors.
TDOC has been the topic of a number of research analyst reports. Barclays lowered their price target on Teladoc Health from $240.00 to $170.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 28th. Robert W. Baird initiated coverage on Teladoc Health in a report on Thursday, May 27th. They set a “neutral” rating and a $162.00 price target on the stock. Cowen lowered their price target on Teladoc Health from $240.00 to $188.00 and set an “outperform” rating on the stock in a report on Monday, August 9th. Deutsche Bank Aktiengesellschaft downgraded Teladoc Health from a “buy” rating to a “hold” rating and lowered their target price for the company from $225.00 to $153.00 in a report on Wednesday, July 28th. Finally, SVB Leerink reissued a “buy” rating on shares of Teladoc Health in a report on Thursday, July 29th. Twelve investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $217.75.
Teladoc Health (NYSE:TDOC) last posted its quarterly earnings data on Tuesday, July 27th. The health services provider reported ($0.86) EPS for the quarter, missing the consensus estimate of ($0.59) by ($0.27). Teladoc Health had a negative return on equity of 1.29% and a negative net margin of 46.86%. The company had revenue of $503.14 million during the quarter, compared to the consensus estimate of $499.85 million. During the same period last year, the business earned ($0.34) EPS. The firm’s quarterly revenue was up 108.7% compared to the same quarter last year. As a group, analysts predict that Teladoc Health, Inc. will post -3.53 EPS for the current year.
In related news, SVP Daniel Trencher sold 2,000 shares of the stock in a transaction dated Monday, July 12th. The stock was sold at an average price of $160.30, for a total transaction of $320,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Arnnon Geshuri sold 4,050 shares of the stock in a transaction dated Thursday, August 26th. The stock was sold at an average price of $143.29, for a total value of $580,324.50. Following the sale, the insider now owns 88,908 shares of the company’s stock, valued at approximately $12,739,627.32. The disclosure for this sale can be found here. Insiders have sold 23,321 shares of company stock valued at $3,567,368 in the last quarter. 6.47% of the stock is currently owned by company insiders.
Teladoc Health Profile
Teladoc Health, Inc engages in the provision of telehealthcare services using a technology platform via mobile devices, the Internet, video and phone. Its portfolio of services and solutions covers medical subspecialties from non-urgent, episodic needs like flu and upper respiratory infections, to chronic, complicated medical conditions like cancer and congestive heart failure.
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