Rubric Capital Management LP Sells 501,908 Shares of Teladoc Health, Inc. (NYSE:TDOC)

Rubric Capital Management LP trimmed its position in shares of Teladoc Health, Inc. (NYSE:TDOC) by 10.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,126,624 shares of the health services provider’s stock after selling 501,908 shares during the period. Rubric Capital Management LP owned about 2.40% of Teladoc Health worth $37,882,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Massachusetts Financial Services Co. MA grew its stake in shares of Teladoc Health by 477.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 370,093 shares of the health services provider’s stock valued at $3,397,000 after buying an additional 305,961 shares during the last quarter. Intech Investment Management LLC purchased a new stake in Teladoc Health during the 3rd quarter valued at about $310,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in Teladoc Health by 15.5% in the 3rd 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 period. Jennison Associates LLC purchased a new stake in shares of Teladoc Health during the third quarter valued at approximately $1,544,000. Finally, Royce & Associates LP purchased a new position in shares of Teladoc Health in the third quarter worth $167,000. Hedge funds and other institutional investors own 76.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on TDOC shares. Jefferies Financial Group upped their target price on Teladoc Health from $8.00 to $10.00 and gave the company a “hold” rating in a report on Tuesday, September 17th. Royal Bank of Canada raised their target price on shares of Teladoc Health from $9.00 to $10.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. Stifel Nicolaus reduced their price target 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. Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 price target on shares of Teladoc Health in a research note on Tuesday, August 20th. Finally, Barclays lifted their price objective on 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 MarketBeat, Teladoc Health has an average rating of “Hold” and an average target price of $12.08.

Teladoc Health Trading Down 5.4 %

TDOC stock opened at $11.37 on Wednesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.69 and a current ratio of 1.73. Teladoc Health, Inc. has a 1-year low of $6.76 and a 1-year high of $22.54. The business has a fifty day moving average price of $9.18 and a 200-day moving average price of $9.25.

Teladoc Health (NYSE:TDOC) last posted its earnings results on Wednesday, October 30th. The health services provider reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $630.50 million. On average, equities research analysts anticipate that Teladoc Health, Inc. will post -1.16 EPS for the current year.

Insider Buying and Selling

In other Teladoc Health news, COO Michael Willem Waters sold 4,218 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $7.16, for a total transaction of $30,200.88. Following the completion of the sale, the chief operating officer now directly owns 78,309 shares of the company’s stock, valued at approximately $560,692.44. This represents a 5.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mala Murthy sold 8,750 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $7.16, for a total transaction of $62,650.00. Following the sale, the chief financial officer now directly 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,051 shares of company stock worth $143,565. 0.95% of the stock is owned by insiders.

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.