UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 202,586 Shares of Teladoc Health, Inc. (NYSE:TDOC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its holdings in shares of Teladoc Health, Inc. (NYSE:TDOC - Free Report) by 22.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 686,440 shares of the health services provider's stock after selling 202,586 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.40% of Teladoc Health worth $6,302,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Rubric Capital Management LP purchased a new stake in shares of Teladoc Health in the second quarter worth approximately $45,267,000. Point72 Asset Management L.P. raised its position in Teladoc Health by 221.9% in the 2nd quarter. Point72 Asset Management L.P. now owns 5,303,123 shares of the health services provider's stock valued at $51,865,000 after buying an additional 3,655,436 shares during the last quarter. Clearline Capital LP lifted its stake in Teladoc Health by 395.6% during 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 in the last quarter. Assenagon Asset Management S.A. purchased a new position in Teladoc Health during the 3rd quarter worth $15,801,000. Finally, Mizuho Markets Americas LLC bought a new stake in shares of Teladoc Health in the 2nd quarter worth $3,937,000. 76.82% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Teladoc Health news, insider Carlos Nueno sold 2,389 shares of the company's stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $11.93, for a total value of $28,500.77. Following the completion of the sale, the insider now owns 2,890 shares of the company's stock, valued at $34,477.70. This represents a 45.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas Mckinley purchased 4,000 shares of the firm's stock in a transaction on Thursday, September 12th. The shares were acquired at an average cost of $7.69 per share, for a total transaction of $30,760.00. Following the completion of the purchase, the director now directly owns 39,077 shares of the company's stock, valued at approximately $300,502.13. This represents a 11.40 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.95% of the company's stock.

Teladoc Health Price Performance

Shares of TDOC stock traded down $0.02 on Wednesday, reaching $10.58. The company's stock had a trading volume of 4,559,764 shares, compared to its average volume of 5,553,047. The company has a market capitalization of $1.82 billion, a P/E ratio of -1.82 and a beta of 0.97. Teladoc Health, Inc. has a 12-month low of $6.76 and a 12-month high of $22.54. The stock's 50 day simple moving average is $9.70 and its 200-day simple moving average is $9.17. The company has a quick ratio of 1.69, a current ratio of 1.73 and a debt-to-equity ratio of 0.66.

Teladoc Health (NYSE:TDOC - Get Free Report) last released its quarterly earnings results 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. Teladoc Health had a negative return on equity of 10.06% and a negative net margin of 37.91%. The firm had revenue of $640.51 million for the quarter, compared to analysts' expectations of $630.50 million. As a group, equities analysts predict that Teladoc Health, Inc. will post -1.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on TDOC. TD Cowen reduced their price objective on shares of Teladoc Health from $9.00 to $8.00 and set a "hold" rating for the company in a research report on Thursday, October 31st. JPMorgan Chase & Co. dropped their price target on Teladoc Health from $16.00 to $9.00 and set a "neutral" rating on the stock in a report on Monday, August 26th. Deutsche Bank Aktiengesellschaft upped their price objective on Teladoc Health from $10.00 to $12.00 and gave the company a "hold" rating in a research note on Friday, November 1st. Piper Sandler reaffirmed an "overweight" rating and issued a $13.00 price target (up previously from $11.00) on shares of Teladoc Health in a report on Wednesday, December 4th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $10.00 price objective on shares of Teladoc Health in a report on Tuesday, August 20th. Fourteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $12.24.

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.