Canada Pension Plan Investment Board Raises Holdings in Teladoc Health, Inc. (NYSE:TDOC)

Posted by Defense World Staff on Mar 2nd, 2023

Canada Pension Plan Investment Board boosted its stake in shares of Teladoc Health, Inc. (NYSE:TDOC – Get Rating) by 274.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,600 shares of the health services provider’s stock after acquiring an additional 17,300 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Teladoc Health were worth $598,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Activest Wealth Management boosted its holdings in Teladoc Health by 270.5% during the 3rd quarter. Activest Wealth Management now owns 678 shares of the health services provider’s stock valued at $26,000 after acquiring an additional 495 shares during the period. SeaCrest Wealth Management LLC bought a new position in Teladoc Health during the 2nd quarter valued at approximately $28,000. Quadrant Capital Group LLC raised its position in Teladoc Health by 23.3% during the 2nd quarter. Quadrant Capital Group LLC now owns 1,385 shares of the health services provider’s stock valued at $46,000 after purchasing an additional 262 shares during the last quarter. Wahed Invest LLC bought a new position in Teladoc Health during the 2nd quarter valued at approximately $49,000. Finally, Avondale Wealth Management bought a new position in Teladoc Health during the 3rd quarter valued at approximately $51,000. 84.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on TDOC shares. Barclays lowered their price target on Teladoc Health from $32.00 to $28.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 18th. JPMorgan Chase & Co. lowered their price target on Teladoc Health from $35.00 to $33.00 and set a “neutral” rating for the company in a research report on Monday. SVB Securities raised Teladoc Health from a “market perform” rating to an “outperform” rating and set a $34.00 price target for the company in a research report on Thursday, February 23rd. Citigroup decreased their target price on Teladoc Health from $33.00 to $30.00 and set a “neutral” rating for the company in a research report on Tuesday. Finally, Oppenheimer decreased their target price on Teladoc Health from $37.00 to $35.00 and set an “outperform” rating for the company in a research report on Thursday, February 23rd. One research analyst has rated the stock with a sell rating, nineteen have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Teladoc Health presently has an average rating of “Hold” and an average target price of $39.19.

Insider Buying and Selling at Teladoc Health

In other Teladoc Health news, SVP Daniel Trencher sold 1,000 shares of the stock in a transaction on Tuesday, January 17th. The stock was sold at an average price of $26.80, for a total transaction of $26,800.00. Following the sale, the senior vice president now directly owns 21,408 shares in the company, valued at approximately $573,734.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Arnnon Geshuri sold 1,090 shares of the firm’s stock in a transaction on Monday, February 27th. The stock was sold at an average price of $26.69, for a total value of $29,092.10. Following the transaction, the insider now directly owns 73,227 shares in the company, valued at approximately $1,954,428.63. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Daniel Trencher sold 1,000 shares of the firm’s stock in a transaction on Tuesday, January 17th. The stock was sold at an average price of $26.80, for a total value of $26,800.00. Following the completion of the transaction, the senior vice president now owns 21,408 shares in the company, valued at $573,734.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,340 shares of company stock worth $156,332. Insiders own 1.55% of the company’s stock.

Teladoc Health Price Performance

Shares of TDOC opened at $25.88 on Thursday. The business’s fifty day simple moving average is $27.13 and its two-hundred day simple moving average is $28.24. The company has a current ratio of 3.13, a quick ratio of 2.99 and a debt-to-equity ratio of 0.25. Teladoc Health, Inc. has a 12 month low of $21.60 and a 12 month high of $77.50.

About Teladoc Health

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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.