Magnetar Financial LLC Takes Position in Teladoc Health, Inc. (NYSE:TDOC)

Magnetar Financial LLC bought a new position in shares of Teladoc Health, Inc. (NYSE:TDOC) during the second quarter, according to its most recent filing with the SEC. The fund bought 24,852 shares of the health services provider’s stock, valued at approximately $243,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Rubric Capital Management LP bought a new stake in Teladoc Health in the second quarter worth about $45,267,000. Canada Pension Plan Investment Board raised its holdings in shares of Teladoc Health by 13.4% in the 2nd quarter. Canada Pension Plan Investment Board now owns 328,900 shares of the health services provider’s stock worth $3,217,000 after purchasing an additional 38,800 shares during the period. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Teladoc Health by 209.8% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 5,015 shares of the health services provider’s stock worth $49,000 after purchasing an additional 3,396 shares during the period. Seven Eight Capital LP purchased a new position in Teladoc Health in the second quarter valued at approximately $1,045,000. Finally, Hsbc Holdings PLC grew its holdings in Teladoc Health by 38.2% during the second quarter. Hsbc Holdings PLC now owns 392,150 shares of the health services provider’s stock valued at $3,862,000 after purchasing an additional 108,307 shares during the period. 76.82% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Teladoc Health

In other Teladoc Health news, CMO Stephany Verstraete sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $7.60, for a total transaction of $114,000.00. Following the sale, the chief marketing officer now owns 45,158 shares in the company, valued at $343,200.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Vidya Raman-Tangella sold 3,857 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $8.14, for a total value of $31,395.98. Following the completion of 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Stephany Verstraete sold 15,000 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $7.60, for a total transaction of $114,000.00. Following the transaction, the chief marketing officer now directly owns 45,158 shares in the company, valued at approximately $343,200.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 57,819 shares of company stock valued at $442,204. Insiders own 0.95% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on TDOC shares. TD Cowen lowered their target price on Teladoc Health from $15.00 to $9.00 and set a “hold” rating on the stock in a research note on Thursday, August 1st. Barclays lowered their price objective on Teladoc Health from $20.00 to $10.00 and set an “overweight” rating on the stock in a research note on Thursday, August 1st. Canaccord Genuity Group cut their target price on shares of Teladoc Health from $25.00 to $17.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Teladoc Health from $15.00 to $10.00 and set a “hold” rating for the company in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. dropped their price target on shares of Teladoc Health from $16.00 to $9.00 and set a “neutral” rating on the stock in a research note on Monday, August 26th. Fifteen analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $12.31.

Teladoc Health Stock Performance

Shares of TDOC opened at $8.47 on Thursday. Teladoc Health, Inc. has a 12-month low of $6.76 and a 12-month high of $22.54. The company has a current ratio of 1.66, a quick ratio of 1.62 and a debt-to-equity ratio of 0.66. The company has a market cap of $1.45 billion, a PE ratio of -6.01 and a beta of 0.90. The stock has a 50-day moving average price of $7.96 and a 200-day moving average price of $10.75.

Teladoc Health (NYSE:TDOC) last announced its 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. The business had revenue of $642.44 million during the quarter, compared to analyst estimates of $649.34 million. Teladoc Health had a negative net margin of 38.54% and a negative return on equity of 10.25%. As a group, equities analysts forecast that Teladoc Health, Inc. will post -1.18 earnings per share for the current fiscal year.

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.