SG Americas Securities LLC Lowers Holdings in Teladoc Health Inc (NYSE:TDOC)
SG Americas Securities LLC trimmed its position in Teladoc Health Inc (NYSE:TDOC) by 27.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 43,577 shares of the health services provider’s stock after selling 16,842 shares during the quarter. SG Americas Securities LLC owned 0.06% of Teladoc Health worth $2,894,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the business. Manchester Capital Management LLC purchased a new stake in shares of Teladoc Health during the 1st quarter worth $75,000. GAM Holding AG purchased a new stake in shares of Teladoc Health during the 1st quarter worth $2,243,000. CWM LLC lifted its stake in shares of Teladoc Health by 15.2% during the 1st quarter. CWM LLC now owns 47,585 shares of the health services provider’s stock worth $2,646,000 after purchasing an additional 6,280 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its stake in shares of Teladoc Health by 7.9% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 410,000 shares of the health services provider’s stock worth $27,228,000 after purchasing an additional 30,000 shares during the last quarter. Finally, C WorldWide Group Holding A S lifted its stake in shares of Teladoc Health by 80.7% during the 1st quarter. C WorldWide Group Holding A S now owns 104,834 shares of the health services provider’s stock worth $5,829,000 after purchasing an additional 46,827 shares during the last quarter.
In other news, CEO Jason N. Gorevic sold 20,000 shares of the stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $61.17, for a total value of $1,223,400.00. Following the transaction, the chief executive officer now directly owns 663,924 shares of the company’s stock, valued at $40,612,231.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Peter A. Mcclennen sold 29,412 shares of the stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $69.98, for a total value of $2,058,251.76. Following the completion of the transaction, the president now directly owns 29,412 shares in the company, valued at $2,058,251.76. The disclosure for this sale can be found here. Insiders sold 151,763 shares of company stock worth $9,981,248 over the last three months. Corporate insiders own 3.14% of the company’s stock.
Teladoc Health (NYSE:TDOC) last announced its quarterly earnings data on Wednesday, July 31st. The health services provider reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.01). The firm had revenue of $130.30 million during the quarter, compared to analyst estimates of $129.54 million. Teladoc Health had a negative net margin of 21.85% and a negative return on equity of 10.64%. The firm’s revenue for the quarter was up 37.8% on a year-over-year basis. During the same period in the prior year, the company posted ($0.40) earnings per share. On average, equities analysts predict that Teladoc Health Inc will post -1.56 earnings per share for the current fiscal year.
A number of equities research analysts recently weighed in on TDOC shares. Cantor Fitzgerald restated a “hold” rating and set a $70.00 price objective on shares of Teladoc Health in a research note on Tuesday, April 30th. Svb Leerink restated an “outperform” rating on shares of Teladoc Health in a research note on Thursday, August 1st. SunTrust Banks upped their price objective on Teladoc Health to $80.00 and gave the stock a “positive” rating in a research note on Tuesday, August 6th. ValuEngine upgraded Teladoc Health from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 27th. Finally, Zacks Investment Research upgraded Teladoc Health from a “sell” rating to a “hold” rating in a research note on Friday, May 3rd. Three investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $83.47.
About Teladoc Health
Teladoc Health, Inc provides telehealth services. 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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