State of New Jersey Common Pension Fund D Increases Stock Holdings in Teladoc Health, Inc. (NYSE:TDOC)

State of New Jersey Common Pension Fund D grew its position in Teladoc Health, Inc. (NYSE:TDOC) by 24.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 138,413 shares of the health services provider’s stock after buying an additional 27,460 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.08% of Teladoc Health worth $2,983,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Arizona State Retirement System increased its position in shares of Teladoc Health by 1.4% in the third quarter. Arizona State Retirement System now owns 46,602 shares of the health services provider’s stock valued at $866,000 after buying an additional 650 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Teladoc Health by 4.3% during the third quarter. Victory Capital Management Inc. now owns 17,946 shares of the health services provider’s stock valued at $334,000 after acquiring an additional 748 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Teladoc Health by 7.4% during the third quarter. Principal Financial Group Inc. now owns 12,774 shares of the health services provider’s stock valued at $237,000 after acquiring an additional 883 shares during the last quarter. Sunbelt Securities Inc. boosted its stake in shares of Teladoc Health by 3.7% during the third quarter. Sunbelt Securities Inc. now owns 24,877 shares of the health services provider’s stock valued at $462,000 after acquiring an additional 899 shares during the last quarter. Finally, Ignite Planners LLC boosted its stake in shares of Teladoc Health by 10.6% during the fourth quarter. Ignite Planners LLC now owns 12,450 shares of the health services provider’s stock valued at $273,000 after acquiring an additional 1,190 shares during the last quarter. Hedge funds and other institutional investors own 76.82% of the company’s stock.

Teladoc Health Price Performance

NYSE TDOC opened at $13.01 on Friday. Teladoc Health, Inc. has a 1-year low of $12.65 and a 1-year high of $30.41. The company has a quick ratio of 3.47, a current ratio of 3.54 and a debt-to-equity ratio of 0.66. The business’s 50-day simple moving average is $14.85 and its 200-day simple moving average is $17.72.

Teladoc Health (NYSE:TDOC) last released its quarterly earnings data on Thursday, April 25th. The health services provider reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.47) by ($0.02). The firm had revenue of $646.13 million during the quarter, compared to analyst estimates of $637.31 million. Teladoc Health had a negative net margin of 8.90% and a negative return on equity of 10.11%. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.37) earnings per share. On average, research analysts anticipate that Teladoc Health, Inc. will post -1.06 earnings per share for the current year.

Insider Activity

In other news, insider Laizer Kornwasser sold 7,882 shares of Teladoc Health stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $19.18, for a total value of $151,176.76. Following the transaction, the insider now directly owns 57,223 shares of the company’s stock, valued at approximately $1,097,537.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CTO Nikolaos P. Nanis sold 2,866 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $14.52, for a total transaction of $41,614.32. Following the sale, the chief technology officer now directly owns 69,850 shares in the company, valued at approximately $1,014,222. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Laizer Kornwasser sold 7,882 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $19.18, for a total value of $151,176.76. Following the sale, the insider now owns 57,223 shares in the company, valued at $1,097,537.14. The disclosure for this sale can be found here. Insiders have sold 135,441 shares of company stock valued at $2,038,251 in the last three months. Corporate insiders own 1.63% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. SVB Leerink assumed coverage on Teladoc Health in a research note on Monday, February 26th. They set a “market perform” rating and a $17.00 price objective on the stock. Canaccord Genuity Group decreased their price objective on Teladoc Health from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Friday. Cantor Fitzgerald assumed coverage on Teladoc Health in a research note on Thursday, February 29th. They set an “overweight” rating and a $22.00 price objective on the stock. Royal Bank of Canada decreased their price objective on Teladoc Health from $25.00 to $18.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, Truist Financial decreased their price objective on Teladoc Health from $23.00 to $17.00 and set a “hold” rating on the stock in a research note on Wednesday, March 6th. Eleven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $19.67.

Teladoc Health 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.