Rubric Capital Management LP Purchases New Shares in Teladoc Health, Inc. (NYSE:TDOC)

Rubric Capital Management LP purchased a new stake in shares of Teladoc Health, Inc. (NYSE:TDOC) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 4,628,532 shares of the health services provider’s stock, valued at approximately $45,267,000. Rubric Capital Management LP owned 2.70% of Teladoc Health as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Parallel Advisors LLC increased its stake in Teladoc Health by 14.6% in the fourth 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 during the period. Ignite Planners LLC grew its position in shares of Teladoc Health by 6.9% during the 1st quarter. Ignite Planners LLC now owns 13,307 shares of the health services provider’s stock worth $198,000 after buying an additional 857 shares in the last quarter. ICA Group Wealth Management LLC bought a new position in shares of Teladoc Health during the 4th quarter worth $28,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of 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 worth $641,000 after buying an additional 1,352 shares in the last quarter. Finally, Covestor Ltd grew its position in shares of Teladoc Health by 58.1% during the 1st quarter. Covestor Ltd now owns 3,817 shares of the health services provider’s stock worth $57,000 after buying an additional 1,403 shares in the last quarter. Hedge funds and other institutional investors own 76.82% of the company’s stock.

Insider Buying and Selling

In related news, insider Vidya Raman-Tangella sold 3,857 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $8.14, for a total transaction of $31,395.98. Following the sale, the insider now owns 33,667 shares of the company’s stock, valued at approximately $274,049.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Teladoc Health news, CEO Laizer Kornwasser sold 10,879 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $8.14, for a total transaction of $88,555.06. Following the completion of the sale, the chief executive officer now directly owns 99,929 shares in the company, valued at $813,422.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Vidya Raman-Tangella sold 3,857 shares of Teladoc Health stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $8.14, for a total transaction of $31,395.98. Following the completion of the sale, the insider now owns 33,667 shares of the company’s stock, valued at $274,049.38. The disclosure for this sale can be found here. Insiders sold 57,819 shares of company stock worth $442,204 in the last quarter. Insiders own 0.95% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on TDOC. Cantor Fitzgerald restated an “overweight” rating and set a $10.00 price objective on shares of Teladoc Health in a report on Tuesday, August 20th. Canaccord Genuity Group cut their price objective on shares of Teladoc Health from $25.00 to $17.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. TD Cowen dropped their target price on Teladoc Health from $15.00 to $9.00 and set a “hold” rating on the stock in a research report on Thursday, August 1st. DA Davidson dropped their target price on Teladoc Health from $12.00 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, August 1st. Finally, 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 research report on Tuesday. Fifteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $12.31.

Teladoc Health Stock Down 4.5 %

Shares of TDOC stock opened at $8.77 on Friday. Teladoc Health, Inc. has a 1 year low of $6.76 and a 1 year high of $22.54. The stock has a market cap of $1.50 billion, a PE ratio of -6.22 and a beta of 0.90. The business’s fifty day moving average is $8.03 and its 200-day moving average is $10.91. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.62 and a current ratio of 1.66.

Teladoc Health (NYSE:TDOC) last announced its quarterly earnings data on Wednesday, July 31st. The health services provider reported ($0.28) earnings per share (EPS) for the quarter, topping 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. Equities analysts expect that Teladoc Health, Inc. will post -1.18 earnings per share for the current fiscal year.

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.