Connor Clark & Lunn Investment Management Ltd. Increases Stock Position in Teladoc Health, Inc. (NYSE:TDOC)

Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Teladoc Health, Inc. (NYSE:TDOC) by 15.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,701,161 shares of the health services provider’s stock after purchasing an additional 228,004 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.99% of Teladoc Health worth $15,617,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Point72 Asset Management L.P. raised its stake in Teladoc Health by 221.9% during the second quarter. Point72 Asset Management L.P. now owns 5,303,123 shares of the health services provider’s stock valued at $51,865,000 after purchasing an additional 3,655,436 shares in the last quarter. Rubric Capital Management LP purchased a new stake in shares of Teladoc Health during the 2nd quarter valued at about $45,267,000. Clearline Capital LP lifted its holdings in shares of Teladoc Health by 395.6% in the 2nd quarter. Clearline Capital LP now owns 4,364,201 shares of the health services provider’s stock valued at $42,682,000 after acquiring an additional 3,483,665 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Teladoc Health in the 3rd quarter valued at about $15,801,000. Finally, Bank of New York Mellon Corp grew its position in Teladoc Health by 1.7% in the second quarter. Bank of New York Mellon Corp now owns 916,129 shares of the health services provider’s stock worth $8,960,000 after acquiring an additional 14,910 shares in the last quarter. 76.82% of the stock is owned by institutional investors.

Teladoc Health Stock Up 0.8 %

Shares of NYSE TDOC opened at $9.00 on Thursday. Teladoc Health, Inc. has a twelve month low of $6.76 and a twelve month high of $22.54. The business has a fifty day simple moving average of $9.00 and a two-hundred day simple moving average of $9.31. The company has a quick ratio of 1.69, a current ratio of 1.73 and a debt-to-equity ratio of 0.66.

Teladoc Health (NYSE:TDOC) last released its quarterly earnings data on Wednesday, October 30th. The health services provider reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.10. Teladoc Health had a negative return on equity of 10.06% and a negative net margin of 37.91%. The firm had revenue of $640.51 million during the quarter, compared to the consensus estimate of $630.50 million. Equities research analysts predict that Teladoc Health, Inc. will post -1.17 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Mala Murthy sold 8,750 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $7.16, for a total value of $62,650.00. Following the sale, the chief financial officer now directly owns 85,767 shares in the company, valued at approximately $614,091.72. This trade represents a 9.26 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas Mckinley acquired 4,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was purchased at an average cost of $7.69 per share, for a total transaction of $30,760.00. Following the transaction, the director now owns 39,077 shares in the company, valued at approximately $300,502.13. The trade was a 11.40 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders sold 20,051 shares of company stock worth $143,565. 0.95% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on TDOC. TD Cowen decreased their price objective on Teladoc Health from $9.00 to $8.00 and set a “hold” rating on the stock in a research report on Thursday, October 31st. Royal Bank of Canada raised their price target on Teladoc Health from $9.00 to $10.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. Truist Financial dropped their price objective on shares of Teladoc Health from $15.00 to $10.00 and set a “hold” rating for the company in a research note on Friday, August 2nd. Barclays increased their target price on shares of Teladoc Health from $10.00 to $12.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Finally, Piper Sandler dropped their price target on shares of Teladoc Health from $25.00 to $10.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Fourteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Teladoc Health presently has a consensus rating of “Hold” and a consensus price target of $12.08.

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.