Rubric Capital Management LP Lowers Stock Position in Teladoc Health, Inc. (NYSE:TDOC)

Rubric Capital Management LP trimmed its position in Teladoc Health, Inc. (NYSE:TDOC) by 10.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 4,126,624 shares of the health services provider’s stock after selling 501,908 shares during the quarter. Rubric Capital Management LP’s holdings in Teladoc Health were worth $37,882,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. grew its position in shares of Teladoc Health by 221.9% during the second quarter. Point72 Asset Management L.P. now owns 5,303,123 shares of the health services provider’s stock worth $51,865,000 after purchasing an additional 3,655,436 shares in the last quarter. Clearline Capital LP increased its holdings in Teladoc Health by 395.6% in the 2nd quarter. Clearline Capital LP now owns 4,364,201 shares of the health services provider’s stock valued at $42,682,000 after acquiring an additional 3,483,665 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Teladoc Health during the 3rd quarter valued at about $15,801,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Teladoc Health by 15.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,701,161 shares of the health services provider’s stock worth $15,617,000 after purchasing an additional 228,004 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Teladoc Health by 1.7% in the second quarter. Bank of New York Mellon Corp now owns 916,129 shares of the health services provider’s stock worth $8,960,000 after buying an additional 14,910 shares in the last quarter. Institutional investors own 76.82% of the company’s stock.

Insider Activity at Teladoc Health

In other Teladoc Health news, CFO Mala Murthy sold 8,750 shares of Teladoc Health stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $7.16, for a total transaction of $62,650.00. Following the completion of the sale, the chief financial officer now owns 85,767 shares of the company’s stock, valued at approximately $614,091.72. The trade was a 9.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Michael Willem Waters sold 4,218 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $7.16, for a total value of $30,200.88. Following the sale, the chief operating officer now owns 78,309 shares in the company, valued at approximately $560,692.44. The trade was a 5.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,051 shares of company stock valued at $143,565 in the last ninety days. Corporate insiders own 0.95% of the company’s stock.

Teladoc Health Trading Down 5.4 %

TDOC opened at $11.37 on Wednesday. The business’s 50-day moving average is $9.18 and its two-hundred day moving average is $9.25. Teladoc Health, Inc. has a 1 year low of $6.76 and a 1 year high of $22.54. The company has a current ratio of 1.73, a quick ratio of 1.69 and a debt-to-equity ratio of 0.66.

Teladoc Health (NYSE:TDOC) last posted 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 company had revenue of $640.51 million during the quarter, compared to analysts’ expectations of $630.50 million. Sell-side analysts anticipate that Teladoc Health, Inc. will post -1.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TDOC. Deutsche Bank Aktiengesellschaft upped their price objective on Teladoc Health from $10.00 to $12.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $10.00 price target on shares of Teladoc Health in a report on Tuesday, August 20th. 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 price target on the stock. Piper Sandler dropped their price objective on shares of Teladoc Health from $25.00 to $10.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Finally, Barclays boosted their price objective on shares of Teladoc Health from $10.00 to $12.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Fourteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $12.08.

Teladoc Health 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.