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

Rubric Capital Management LP cut its position in Teladoc Health, Inc. (NYSE:TDOC - Free Report) by 10.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,126,624 shares of the health services provider's stock after selling 501,908 shares during the quarter. Rubric Capital Management LP owned 2.40% of Teladoc Health worth $37,882,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Teladoc Health by 2.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 65,588 shares of the health services provider's stock valued at $641,000 after acquiring an additional 1,352 shares during the last quarter. Signaturefd LLC raised its holdings in shares of Teladoc Health by 148.7% during the second quarter. Signaturefd LLC now owns 2,868 shares of the health services provider's stock worth $28,000 after purchasing an additional 1,715 shares during the period. Blue Trust Inc. raised its holdings in shares of Teladoc Health by 84.5% during the third quarter. Blue Trust Inc. now owns 4,048 shares of the health services provider's stock worth $40,000 after purchasing an additional 1,854 shares during the period. Arizona State Retirement System raised its holdings in shares of Teladoc Health by 4.2% during the second quarter. Arizona State Retirement System now owns 47,400 shares of the health services provider's stock worth $464,000 after purchasing an additional 1,901 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Teladoc Health by 3.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 64,132 shares of the health services provider's stock worth $627,000 after purchasing an additional 2,153 shares during the period. 76.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, COO Michael Willem Waters sold 4,218 shares of the firm's stock in a transaction on 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. This trade represents a 5.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Thomas Mckinley acquired 4,000 shares of the stock in a transaction dated Thursday, September 12th. The stock was bought at an average price of $7.69 per share, for a total transaction of $30,760.00. Following the purchase, the director now owns 39,077 shares of the company's stock, valued at $300,502.13. The trade was a 11.40 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 20,051 shares of company stock valued at $143,565 over the last 90 days. 0.95% of the stock is currently owned by company insiders.

Teladoc Health Stock Up 0.6 %

TDOC traded up $0.07 during midday trading on Wednesday, hitting $11.44. 3,433,751 shares of the company's stock traded hands, compared to its average volume of 5,574,444. The company has a market cap of $1.97 billion, a PE ratio of -1.99 and a beta of 0.90. The stock's fifty day simple moving average is $9.23 and its 200-day simple moving average is $9.25. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.73 and a quick ratio of 1.69. Teladoc Health, Inc. has a one year low of $6.76 and a one year high of $22.54.

Teladoc Health (NYSE:TDOC - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The health services provider reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.10. The firm had revenue of $640.51 million for the quarter, compared to analyst estimates of $630.50 million. Teladoc Health had a negative net margin of 37.91% and a negative return on equity of 10.06%. As a group, equities analysts anticipate that Teladoc Health, Inc. will post -1.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TDOC. Oppenheimer dropped their price objective on shares of Teladoc Health from $21.00 to $17.00 and set an "outperform" rating on the stock in a report on Thursday, August 1st. Cantor Fitzgerald reissued an "overweight" rating and set a $10.00 target price on shares of Teladoc Health in a research note on Tuesday, August 20th. Jefferies Financial Group raised their target price on shares of Teladoc Health from $8.00 to $10.00 and gave the company a "hold" rating in a research note on Tuesday, September 17th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Teladoc Health from $10.00 to $12.00 and gave the company a "hold" rating in a research note on Friday, November 1st. Finally, Piper Sandler reduced 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 report on Tuesday, August 6th. Fourteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $12.08.

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.