Principal Financial Group Inc. Cuts Stock Position in Teladoc Health, Inc. (NYSE:TDOC)

Principal Financial Group Inc. trimmed its position in Teladoc Health, Inc. (NYSE:TDOC) by 29.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 12,475 shares of the health services provider’s stock after selling 5,199 shares during the period. Principal Financial Group Inc.’s holdings in Teladoc Health were worth $115,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of TDOC. Signaturefd LLC boosted its holdings in shares of Teladoc Health by 148.7% in the second quarter. Signaturefd LLC now owns 2,868 shares of the health services provider’s stock valued at $28,000 after acquiring an additional 1,715 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Teladoc Health in the second quarter valued at about $29,000. Blue Trust Inc. lifted its position in Teladoc Health by 84.5% in the third quarter. Blue Trust Inc. now owns 4,048 shares of the health services provider’s stock valued at $40,000 after purchasing an additional 1,854 shares during the period. Doheny Asset Management CA purchased a new stake in Teladoc Health in the 2nd quarter valued at approximately $46,000. Finally, Benjamin F. Edwards & Company Inc. increased its position in Teladoc Health by 209.8% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 5,015 shares of the health services provider’s stock worth $49,000 after purchasing an additional 3,396 shares during the period. 76.82% of the stock is owned by institutional investors and hedge funds.

Teladoc Health Trading Down 5.4 %

TDOC stock opened at $11.37 on Wednesday. The company has a quick ratio of 1.69, a current ratio of 1.73 and a debt-to-equity ratio of 0.66. The company has a market cap of $1.96 billion, a price-to-earnings ratio of -1.97 and a beta of 0.90. The business has a fifty day simple moving average of $9.18 and a 200-day simple moving average of $9.25. Teladoc Health, Inc. has a 52 week low of $6.76 and a 52 week high of $22.54.

Teladoc Health (NYSE:TDOC) last issued its earnings results on Wednesday, October 30th. The health services provider reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.10. Teladoc Health had a negative net margin of 37.91% and a negative return on equity of 10.06%. The business had revenue of $640.51 million for the quarter, compared to the consensus estimate of $630.50 million. On average, equities research analysts expect that Teladoc Health, Inc. will post -1.16 EPS for the current year.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

Several analysts have recently commented on TDOC shares. Evercore ISI raised their price target on Teladoc Health from $8.00 to $9.00 and gave the company an “in-line” rating in a report on Tuesday, October 8th. Canaccord Genuity Group cut their price objective on Teladoc Health from $25.00 to $17.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Stifel Nicolaus decreased their target price on shares of Teladoc Health from $16.00 to $9.00 and set a “hold” rating on the stock in a research report on Thursday, August 1st. JPMorgan Chase & Co. lowered their price target on shares of Teladoc Health from $16.00 to $9.00 and set a “neutral” rating on the stock in a research note on Monday, August 26th. Finally, TD Cowen reduced their price objective on shares of Teladoc Health from $9.00 to $8.00 and set a “hold” rating for the company in a research note on Thursday, October 31st. Fourteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average 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.