Clearline Capital LP Grows Holdings in Teladoc Health, Inc. (NYSE:TDOC)

Clearline Capital LP increased its holdings in Teladoc Health, Inc. (NYSE:TDOC) by 395.6% during the second quarter, Holdings Channel.com reports. The firm owned 4,364,201 shares of the health services provider’s stock after acquiring an additional 3,483,665 shares during the quarter. Teladoc Health accounts for 1.2% of Clearline Capital LP’s investment portfolio, making the stock its 4th largest holding. Clearline Capital LP’s holdings in Teladoc Health were worth $42,682,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Rubric Capital Management LP purchased a new stake in shares of Teladoc Health during the second quarter valued at approximately $45,267,000. Point72 Asset Management L.P. grew its holdings 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 worth $51,865,000 after acquiring an additional 3,655,436 shares during the last quarter. Vanguard Group Inc. grew its holdings in Teladoc Health by 11.8% in the 4th quarter. Vanguard Group Inc. now owns 17,515,127 shares of the health services provider’s stock worth $377,451,000 after acquiring an additional 1,855,480 shares during the last quarter. Norges Bank bought a new stake in shares of Teladoc Health in the 4th quarter worth approximately $9,714,000. Finally, Pale Fire Capital SE purchased a new position in shares of Teladoc Health during the fourth quarter valued at approximately $8,960,000. 76.82% of the stock is owned by institutional investors.

Insider Buying and Selling at Teladoc Health

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

Analyst Ratings Changes

A number of research analysts have issued reports on TDOC shares. Evercore ISI reduced their price objective on shares of Teladoc Health from $14.00 to $10.00 and set an “in-line” rating on the stock in a research report on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft dropped their price target on Teladoc Health from $15.00 to $10.00 and set a “hold” rating on the stock in a research report on Friday, August 2nd. TD Cowen reduced their price objective on Teladoc Health from $15.00 to $9.00 and set a “hold” rating for the company in a research report on Thursday, August 1st. Oppenheimer dropped their target price on Teladoc Health from $21.00 to $17.00 and set an “outperform” rating on the stock in a report on Thursday, August 1st. Finally, Needham & Company LLC reissued a “hold” rating on shares of Teladoc Health in a research note on Thursday, August 1st. Fifteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $12.31.

Teladoc Health Stock Performance

Shares of NYSE:TDOC opened at $8.46 on Friday. The firm’s 50 day simple moving average is $7.93 and its 200-day simple moving average is $10.65. 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, Inc. has a one year low of $6.76 and a one year high of $22.54. The firm has a market cap of $1.43 billion, a PE ratio of -6.00 and a beta of 0.90.

Teladoc Health (NYSE:TDOC) last issued its earnings results on Wednesday, July 31st. The health services provider reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 10.25% and a negative net margin of 38.54%. As a group, equities analysts predict that Teladoc Health, Inc. will post -1.18 EPS for the current 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.