5 Best Biotech Stocks to Buy According to Cathie Wood

Page 5 of 5

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

Number of Hedge Fund Holders: 50   

Teladoc Health, Inc. (NYSE: TDOC) is a New York-based health company founded in 2002. It is ranked first on our list of 10 best biotech stocks to buy according to Cathie Wood. The firm deals in virtual healthcare. The hedge fund of Cathie Wood owns over 14 million shares in the firm worth over $2.6 billion, representing over 5% of the investment portfolio of ARK Investment Management. Teladoc stock has returned more than 4.7% to investors in the past week. The firm partners with medical institutions to provide analytics services too.

On April 28, Teladoc Health, Inc. (NYSE: TDOC) posted earnings results for the first three months of 2021, reporting earnings per share of -$1.31 and a revenue of over $450 million. The EPS missed market estimates by $0.72.

At the end of the first quarter of 2021, 42 hedge funds in the database of Insider Monkey held stakes worth $3.3 billion in Teladoc Health, Inc. (NYSE: TDOC), down from 50 in the preceding quarter worth $2.6 billion. 

Just like CRISPR Therapeutics AG (NASDAQ: CRSP) and Exact Sciences Corporation (NASDAQ: EXAS), Teladoc Health, Inc. (NYSE: TDOC) is one of the best biotech stocks to buy according to Cathie Wood.

In its Q4 2020 investor letter, Carillon Tower Advisers, an asset management firm, highlighted a few stocks and Teladoc Health, Inc. (NYSE: TDOC) was one of them. Here is what the fund said:

“Teladoc Health offers remote physician access to patients at home. After experiencing incredible levels of growth throughout the early stages of the pandemic as its unique value proposition rose to the forefront of the healthcare industry, the firm’s shares cooled off a bit as optimistic vaccine data slightly curtailed investor expectations for the firm’s future growth potential. We sold the stock.”

You can also take a peek at Billionaire Izzy Englander’s Top 10 Stock Picks and Billionaire David Abrams’ Top Stock Picks.

Page 5 of 5