Teladoc Health, Inc. (NYSE:TDOC) is Clearline Capital LP's 4th Largest Position

Clearline Capital LP lifted its stake in shares of Teladoc Health, Inc. (NYSE:TDOC - Free Report) by 395.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,364,201 shares of the health services provider's stock after purchasing an additional 3,483,665 shares during the quarter. Teladoc Health accounts for about 1.2% of Clearline Capital LP's holdings, making the stock its 4th largest position. Clearline Capital LP owned about 2.55% of Teladoc Health worth $42,682,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TDOC. Norges Bank bought a new position in Teladoc Health in the 4th quarter worth about $9,714,000. Parallel Advisors LLC boosted its holdings in shares of Teladoc Health by 14.6% in the 4th quarter. Parallel Advisors LLC now owns 4,038 shares of the health services provider's stock worth $87,000 after purchasing an additional 515 shares in the last quarter. Allianz Asset Management GmbH boosted its holdings in shares of Teladoc Health by 15.4% in the 4th quarter. Allianz Asset Management GmbH now owns 604,238 shares of the health services provider's stock worth $13,021,000 after purchasing an additional 80,805 shares in the last quarter. Treasurer of the State of North Carolina boosted its holdings in shares of Teladoc Health by 2.2% in the 4th quarter. Treasurer of the State of North Carolina now owns 73,127 shares of the health services provider's stock worth $1,576,000 after purchasing an additional 1,570 shares in the last quarter. Finally, Pinebridge Investments L.P. boosted its holdings in shares of Teladoc Health by 83.2% in the 4th quarter. Pinebridge Investments L.P. now owns 55,428 shares of the health services provider's stock worth $1,194,000 after purchasing an additional 25,171 shares in the last quarter. 76.82% of the stock is currently owned by institutional investors.

Teladoc Health Stock Performance

Shares of TDOC traded up $0.05 during trading hours on Friday, hitting $8.46. The stock had a trading volume of 4,593,518 shares, compared to its average volume of 5,552,938. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.66 and a quick ratio of 1.62. Teladoc Health, Inc. has a 12 month low of $6.76 and a 12 month high of $22.54. The firm has a market capitalization of $1.43 billion, a PE ratio of -6.00 and a beta of 0.90. The stock has a fifty day moving average price of $7.93 and a 200 day moving average price of $10.62.

Teladoc Health (NYSE:TDOC - Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The health services provider reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.36) by $0.08. Teladoc Health had a negative return on equity of 10.25% and a negative net margin of 38.54%. The business had revenue of $642.44 million during the quarter, compared to analyst estimates of $649.34 million. Analysts anticipate that Teladoc Health, Inc. will post -1.18 EPS for the current year.

Analyst Ratings Changes

TDOC has been the subject of several analyst reports. Needham & Company LLC restated a "hold" rating on shares of Teladoc Health in a report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft dropped their target price on Teladoc Health from $15.00 to $10.00 and set a "hold" rating for the company in a report on Friday, August 2nd. Cantor Fitzgerald restated an "overweight" rating and set a $10.00 target price on shares of Teladoc Health in a report on Tuesday, August 20th. Jefferies Financial Group increased 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. Finally, TD Cowen dropped their target price on Teladoc Health from $15.00 to $9.00 and set a "hold" rating for the company in a report on Thursday, August 1st. Fifteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $12.31.

Insider Activity

In other news, CEO Laizer Kornwasser sold 10,879 shares of the company's stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $8.14, for a total transaction of $88,555.06. Following the transaction, the chief executive officer now owns 99,929 shares of the company's stock, valued at $813,422.06. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, COO Michael Willem Waters sold 6,053 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $8.14, for a total value of $49,271.42. Following the transaction, the chief operating officer now owns 74,214 shares of the company's stock, valued at $604,101.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Laizer Kornwasser sold 10,879 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $8.14, for a total value of $88,555.06. Following the completion of the transaction, the chief executive officer now directly owns 99,929 shares in the company, valued at approximately $813,422.06. The disclosure for this sale can be found here. Insiders have sold 57,819 shares of company stock worth $442,204 over the last ninety days. Corporate insiders own 0.95% of the company's stock.

Teladoc Health Company 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.