Clearline Capital LP Sells 3,844,861 Shares of Teladoc Health, Inc. (NYSE:TDOC)

Clearline Capital LP lowered its position in Teladoc Health, Inc. (NYSE:TDOC) by 88.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 519,340 shares of the health services provider’s stock after selling 3,844,861 shares during the period. Clearline Capital LP’s holdings in Teladoc Health were worth $4,768,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. increased its holdings in Teladoc Health by 112.8% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 14,664 shares of the health services provider’s stock valued at $135,000 after purchasing an additional 7,773 shares in the last quarter. Edgestream Partners L.P. bought a new stake in shares of Teladoc Health during the third quarter worth $1,831,000. MetLife Investment Management LLC increased its stake in shares of Teladoc Health by 129.1% in the third quarter. MetLife Investment Management LLC now owns 98,504 shares of the health services provider’s stock valued at $904,000 after buying an additional 55,503 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Teladoc Health by 477.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 370,093 shares of the health services provider’s stock valued at $3,397,000 after buying an additional 305,961 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new position in Teladoc Health during the 3rd quarter worth about $310,000. 76.82% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Teladoc Health news, Director Thomas Mckinley acquired 4,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were acquired at an average price of $7.69 per share, with a total value of $30,760.00. Following the completion of the transaction, the director now directly owns 39,077 shares in the company, valued at $300,502.13. This trade represents a 11.40 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $30,200.88. Following the completion of the transaction, the chief operating officer now directly owns 78,309 shares of the company’s stock, valued at approximately $560,692.44. This trade represents a 5.11 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,051 shares of company stock valued at $143,565. Company insiders own 0.95% of the company’s stock.

Teladoc Health Trading Up 4.8 %

NYSE:TDOC opened at $11.98 on Monday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.73 and a quick ratio of 1.69. The business’s 50-day simple moving average is $9.38 and its 200-day simple moving average is $9.25. Teladoc Health, Inc. has a fifty-two week low of $6.76 and a fifty-two week high of $22.54. The stock has a market capitalization of $2.06 billion, a PE ratio of -2.08 and a beta of 0.90.

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on TDOC. Royal Bank of Canada raised their price objective on shares of Teladoc Health from $9.00 to $10.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. dropped their price objective on shares of Teladoc Health from $16.00 to $9.00 and set a “neutral” rating for the company in a research report on Monday, August 26th. Barclays increased their price objective on Teladoc Health from $10.00 to $12.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Evercore ISI boosted their target price on Teladoc Health from $8.00 to $9.00 and gave the stock an “in-line” rating in a research report on Tuesday, October 8th. Finally, TD Cowen decreased their price target on Teladoc Health from $9.00 to $8.00 and set a “hold” rating on the stock in a report on Thursday, October 31st. Fourteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $12.08.

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.