Mirae Asset Global Investments Co. Ltd. Increases Position in Teladoc Health Inc (TDOC)

Mirae Asset Global Investments Co. Ltd. boosted its stake in Teladoc Health Inc (NYSE:TDOC) by 47.7% during the third quarter, Holdings Channel reports. The institutional investor owned 47,400 shares of the health services provider’s stock after buying an additional 15,300 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Teladoc Health were worth $4,093,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in TDOC. Bank of America Corp DE grew its stake in Teladoc Health by 82.8% in the 2nd quarter. Bank of America Corp DE now owns 1,883,185 shares of the health services provider’s stock valued at $109,318,000 after buying an additional 853,076 shares during the last quarter. BlackRock Inc. grew its stake in Teladoc Health by 9.0% in the 2nd quarter. BlackRock Inc. now owns 5,318,850 shares of the health services provider’s stock valued at $308,759,000 after buying an additional 437,136 shares during the last quarter. OppenheimerFunds Inc. acquired a new position in Teladoc Health in the 2nd quarter valued at about $20,163,000. Artemis Investment Management LLP acquired a new position in Teladoc Health in the 3rd quarter valued at about $20,114,000. Finally, Artisan Partners Limited Partnership acquired a new position in Teladoc Health in the 2nd quarter valued at about $8,998,000.

In other news, President Peter A. Mcclennen sold 69,224 shares of the company’s stock in a transaction that occurred on Monday, November 5th. The shares were sold at an average price of $66.77, for a total transaction of $4,622,086.48. Following the completion of the sale, the president now owns 12,692 shares of the company’s stock, valued at approximately $847,444.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Adam C. Vandervoort sold 5,550 shares of the company’s stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $77.67, for a total transaction of $431,068.50. Following the sale, the insider now directly owns 2,934 shares of the company’s stock, valued at approximately $227,883.78. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 255,929 shares of company stock valued at $17,683,623. 3.95% of the stock is currently owned by insiders.

Shares of NYSE:TDOC opened at $53.41 on Friday. Teladoc Health Inc has a 12-month low of $30.88 and a 12-month high of $89.05. The company has a quick ratio of 8.99, a current ratio of 8.99 and a debt-to-equity ratio of 0.40.

Teladoc Health (NYSE:TDOC) last announced its earnings results on Thursday, November 1st. The health services provider reported ($0.34) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.36) by $0.02. Teladoc Health had a negative net margin of 31.32% and a negative return on equity of 14.05%. The firm had revenue of $111.00 million for the quarter, compared to analyst estimates of $109.94 million. During the same quarter in the prior year, the business posted ($0.55) EPS. The business’s revenue was up 61.6% compared to the same quarter last year. Research analysts expect that Teladoc Health Inc will post -1.47 earnings per share for the current year.

A number of research analysts have issued reports on the stock. MED increased their target price on shares of Teladoc Health from $68.00 to $89.00 and gave the stock an “outperform” rating in a research report on Friday, September 28th. Robert W. Baird increased their target price on shares of Teladoc Health from $65.00 to $80.00 and gave the stock a “neutral” rating in a research report on Friday, September 28th. Leerink Swann assumed coverage on shares of Teladoc Health in a research report on Thursday, August 16th. They set an “outperform” rating and a $90.00 target price on the stock. Citigroup restated a “buy” rating and set a $95.00 target price on shares of Teladoc Health in a research report on Friday, September 28th. Finally, Cantor Fitzgerald increased their target price on shares of Teladoc Health from $52.00 to $83.00 and gave the stock a “neutral” rating in a research report on Friday, September 28th. They noted that the move was a valuation call. Four research 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 stock. Teladoc Health presently has an average rating of “Buy” and an average price target of $85.06.

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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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Institutional Ownership by Quarter for Teladoc Health (NYSE:TDOC)

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