Invenomic Capital Management LP Cuts Stock Position in Teladoc Health, Inc. (NYSE:TDOC)

Invenomic Capital Management LP reduced its position in Teladoc Health, Inc. (NYSE:TDOC - Free Report) by 34.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 973,650 shares of the health services provider's stock after selling 500,687 shares during the period. Invenomic Capital Management LP owned 0.57% of Teladoc Health worth $8,850,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Graham Capital Management L.P. purchased a new stake in shares of Teladoc Health during the 4th quarter worth approximately $183,000. CastleKnight Management LP increased its position in Teladoc Health by 47.0% in the fourth quarter. CastleKnight Management LP now owns 209,800 shares of the health services provider's stock worth $1,907,000 after purchasing an additional 67,100 shares during the last quarter. Centiva Capital LP increased its position in Teladoc Health by 679.5% in the fourth quarter. Centiva Capital LP now owns 244,615 shares of the health services provider's stock worth $2,224,000 after purchasing an additional 213,234 shares during the last quarter. Brevan Howard Capital Management LP raised its stake in Teladoc Health by 49.8% during the fourth quarter. Brevan Howard Capital Management LP now owns 228,351 shares of the health services provider's stock valued at $2,076,000 after purchasing an additional 75,961 shares in the last quarter. Finally, Bridgefront Capital LLC purchased a new stake in Teladoc Health during the fourth quarter valued at $130,000. 76.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Adam C. Vandervoort sold 11,011 shares of the business's stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $8.42, for a total value of $92,712.62. Following the completion of the transaction, the insider now owns 64,308 shares of the company's stock, valued at $541,473.36. The trade was a 14.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.58% of the stock is owned by insiders.

Wall Street Analyst Weigh In

TDOC has been the topic of several recent research reports. Canaccord Genuity Group decreased their target price on shares of Teladoc Health from $14.00 to $12.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Needham & Company LLC reissued a "hold" rating on shares of Teladoc Health in a research note on Thursday, May 1st. Oppenheimer decreased their price objective on Teladoc Health from $14.00 to $12.00 and set an "outperform" rating on the stock in a research report on Friday, January 24th. The Goldman Sachs Group lowered their price objective on Teladoc Health from $13.00 to $10.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Finally, Wells Fargo & Company cut their target price on Teladoc Health from $10.00 to $8.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 8th. Twelve investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Teladoc Health has an average rating of "Hold" and an average target price of $9.71.

Teladoc Health Trading Up 3.8%

Shares of Teladoc Health stock traded up $0.27 on Friday, hitting $7.52. 4,601,008 shares of the company traded hands, compared to its average volume of 6,231,777. The company has a current ratio of 1.73, a quick ratio of 1.69 and a debt-to-equity ratio of 0.66. The company has a market cap of $1.32 billion, a PE ratio of -1.30 and a beta of 1.82. The stock's 50 day moving average price is $7.61 and its 200-day moving average price is $9.37. Teladoc Health, Inc. has a 52 week low of $6.35 and a 52 week high of $15.21.

Teladoc Health (NYSE:TDOC - Get Free Report) last issued its earnings results on Wednesday, February 26th. The health services provider reported ($0.28) earnings per share for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.07). Teladoc Health had a negative net margin of 37.91% and a negative return on equity of 10.06%. The firm had revenue of $640.49 million for the quarter, compared to the consensus estimate of $639.44 million. Equities research analysts predict that Teladoc Health, Inc. will post -1.16 EPS for the current 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.