Ark Invest Stock Portfolio: Top 5 Picks

2. Teladoc Health, Inc. (NYSE:TDOC)

Number of Hedge Fund Holders: 43

Weight as of September 27: 5.66%

Teladoc Health, Inc. (NYSE:TDOC) is a virtual healthcare company based in New York that ranks second on the list of Ark Invest’s top 10 stock picks. The company provides healthcare services on a business-to-business basis. Teladoc Health, Inc. (NYSE:TDOC) has delivered over 10.5 million virtual health consultations last year.

On September 15, RBC Capital analyst Sean Dodge maintained an Outperform rating on Teladoc Health, Inc. (NYSE:TDOC) with a price target of $260. According to the analyst, the virtual healthcare provider will continue to gain new customers in the following quarters. 

At the end of the second quarter of 2021, 43 hedge funds in the database of Insider Monkey held stakes worth $3.57 billion in Teladoc Health, Inc. (NYSE:TDOC), up from 42 in the preceding quarter worth $3.37 billion. 

In its Q1 2021 investor letter, ClearBridge Investments mentioned Teladoc Health, Inc. (NYSE:TDOC) and shared their insights on the company. Here is what the fund said:

“Teladoc is a leading play on telemedicine, a hyper growth market with significant opportunity for increases in utilization accelerated by the COVID19 environment. The company is well-positioned for this evolution in treatment after years of work building out its network of doctors and payors. Its recent merger with Livongo expands the company’s customer base and increases the number of products to cross-sell such as holistic, chronic disease, and second opinion services. International expansion is another significant opportunity.”