C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Takes Position in Teladoc Health, Inc. (NYSE:TDOC)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in shares of Teladoc Health, Inc. (NYSE:TDOC) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 29,882 shares of the health services provider’s stock, valued at approximately $272,000.

Several other hedge funds have also made changes to their positions in TDOC. Point72 Asset Management L.P. grew its holdings in Teladoc Health by 57.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 8,366,295 shares of the health services provider’s stock valued at $76,803,000 after buying an additional 3,063,172 shares during the period. Assenagon Asset Management S.A. purchased a new position in Teladoc Health during the third quarter worth approximately $15,801,000. Maple Rock Capital Partners Inc. acquired a new position in shares of Teladoc Health in the 3rd quarter valued at $11,291,000. Invenomic Capital Management LP boosted its holdings in Teladoc Health by 155.2% in the third quarter. Invenomic Capital Management LP now owns 1,474,337 shares of the health services provider’s stock valued at $13,534,000 after acquiring an additional 896,552 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its position in Teladoc Health by 20,936.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 426,206 shares of the health services provider’s stock valued at $3,874,000 after acquiring an additional 424,180 shares during the period. Institutional investors and hedge funds own 76.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. The Goldman Sachs Group began coverage on Teladoc Health in a report on Friday, November 15th. They set a “buy” rating and a $14.00 target price for the company. Oppenheimer decreased their price target on shares of Teladoc Health from $14.00 to $12.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Bank of America raised their price objective on Teladoc Health from $11.50 to $13.50 and gave the company a “neutral” rating in a research report on Wednesday. Barclays boosted their price target on Teladoc Health from $10.00 to $12.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Teladoc Health from $10.00 to $12.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Fourteen analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $12.08.

Teladoc Health Price Performance

Shares of NYSE TDOC opened at $13.51 on Friday. The company has a current ratio of 1.73, a quick ratio of 1.69 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $2.33 billion, a price-to-earnings ratio of -2.34 and a beta of 1.05. Teladoc Health, Inc. has a twelve month low of $6.76 and a twelve month high of $21.74. The business has a 50 day simple moving average of $10.22 and a 200-day simple moving average of $9.25.

Insiders Place Their Bets

In other Teladoc Health news, insider Carlos Nueno sold 2,389 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $11.93, for a total value of $28,500.77. Following the sale, the insider now directly owns 2,890 shares of the company’s stock, valued at $34,477.70. This trade represents a 45.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.95% of the stock is currently owned by corporate insiders.

Teladoc Health Company 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.