BlackRock Fund Advisors recently announced the acquisition of new stake in Teladoc Health Inc (NYSE:TDOC). The institutional investor has increased its shareholding in the Healthcare company by 4.28% to 7.72 million shares with purchase of 0.32 million shares. This fresh investment now brings its stake to 4.66% valued currently at $127.68 million. In addition, Renaissance Technologies LLC raised its holdings by 0.1 million to 4.51 million shares. And Dimensional Fund Advisors LP has lifted its position by 9.46% or 0.27 million shares – to 3.07 million shares.
With over 4.11 million Teladoc Health Inc (TDOC) shares trading Tuesday and a closing price of $19.10 on the day, the dollar volume was approximately $78.41 million. The shares have shown a negative half year performance of -24.63% and its price on 12/12/23 gained nearly 0.42%. Currently, there are 165.56M common shares owned by the public and among those 164.21M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 27 analysts who have offered their price forecasts for TDOC have a consensus price objective of $22.61. The analysts have set the share’s price value over the next 12 months at a high of $34.00 and a low of $16.00. The average price target is 15.52% above its recent price level and a downside to the estimated low will see the stock lose -19.38% over that period. But an upside of 43.82% will see the stock hit the forecast high price target while median target price for the stock is $21.50.
Insiders at the company have transacted a total of 161 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 94 of these insider trades were purchases, accounting for 483,633 shares. Insider sales of the common stock occurred on 67 occasions, with total insider shares sold totaling 239,010 shares.
The top 3 mutual fund holders in Teladoc Health Inc are ARK Innovation ETF, Kinnevik AB, and Vanguard Total Stock Market ETF. ARK Innovation ETF owns 11.85 million shares of the company’s stock, all valued at over $195.94 million. The company sold 34340.0 shares recently to bring their total holdings to about 7.16% of the shares outstanding. Vanguard Total Stock Market ETF bought 12499.0 shares to bring its total holdings to over 4.89 million shares at a value of $80.96 million. Vanguard Total Stock Market ETF now owns shares totaling to 2.96% of the shares outstanding.
However, the script later moved the day high at 19.19, up 0.42%. The company’s stock has a 5-day price change of 3.19% and -12.79% over the past three months. TDOC shares are trading -19.24% year to date (YTD), with the 12-month market performance down to -29.83% lower. It has a 12-month low price of $15.02 and touched a high of $34.36 over the same period. TDOC has an average intraday trading volume of 4.96 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 6.76%, 7.49%, and -15.99% respectively.
Institutional ownership of Teladoc Health Inc (NYSE: TDOC) shares accounts for 71.55% of the company’s 165.56M shares outstanding. Mutual fund holders own 26.85%, while other institutional holders and individual stakeholders account for 45.10% and 15.12% respectively.
It has a market capitalization of $3.16B and a beta (3y monthly) value of 1.07. The earnings-per-share (ttm) stands at -$24.66. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.80% over the week and 3.86% over the month.
Analysts forecast that Teladoc Health Inc (TDOC) will achieve an EPS of -$0.21 for the current quarter, -$0.42 for the next quarter and -$1.21 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.32 while analysts give the company a high EPS estimate of $0.16. Comparatively, EPS for the current quarter was -$23.49 a year ago. Earnings per share for the fiscal year are expected to increase by 98.35%, and 18.47% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 27 brokerage firm advisors rate Teladoc Health Inc (TDOC) as a “Moderate Buy” at a consensus score of 2.56. Specifically, 6 Wall Street analysts polled rate the stock as a buy, while 21 of the 27 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the TDOC, a number of firms have released research notes about the stock. Stephens stated their Equal-Weight rating for the stock in a research note on April 12, 2023, with the firm’s price target at $25.
