Marathon Trading Investment Management LLC Reduces Holdings in Teladoc Health, Inc. (NYSE:TDOC)

Marathon Trading Investment Management LLC decreased its holdings in Teladoc Health, Inc. (NYSE:TDOC) by 34.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,000 shares of the health services provider’s stock after selling 8,000 shares during the quarter. Marathon Trading Investment Management LLC’s holdings in Teladoc Health were worth $138,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in TDOC. Rubric Capital Management LP purchased a new stake in Teladoc Health in the 2nd quarter valued at approximately $45,267,000. Point72 Asset Management L.P. raised its stake 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 valued at $51,865,000 after purchasing an additional 3,655,436 shares during the last quarter. Clearline Capital LP lifted its stake in shares of Teladoc Health by 395.6% during the second quarter. Clearline Capital LP now owns 4,364,201 shares of the health services provider’s stock valued at $42,682,000 after buying an additional 3,483,665 shares during the period. Assenagon Asset Management S.A. purchased a new position in shares of Teladoc Health during the 3rd quarter worth $15,801,000. Finally, Mizuho Markets Americas LLC purchased a new position in Teladoc Health during the second quarter worth about $3,937,000. Institutional investors and hedge funds own 76.82% of the company’s stock.

Teladoc Health Price Performance

Shares of TDOC stock opened at $9.21 on Friday. Teladoc Health, Inc. has a 12-month low of $6.76 and a 12-month high of $22.54. 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 has a 50 day simple moving average of $8.89 and a 200 day simple moving average of $9.39.

Teladoc Health (NYSE:TDOC) last released its quarterly earnings results on Wednesday, October 30th. The health services provider reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.10. Teladoc Health had a negative return on equity of 10.06% and a negative net margin of 37.91%. The company had revenue of $640.51 million during the quarter, compared to analysts’ expectations of $630.50 million. Sell-side analysts anticipate that Teladoc Health, Inc. will post -1.17 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on TDOC. Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 price target on shares of Teladoc Health in a report on Tuesday, August 20th. Stifel Nicolaus dropped their price objective on shares of Teladoc Health from $16.00 to $9.00 and set a “hold” rating on the stock in a research note on Thursday, August 1st. Truist Financial reduced their price target on Teladoc Health from $15.00 to $10.00 and set a “hold” rating for the company in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Teladoc Health from $10.00 to $12.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Finally, Barclays upped their price objective on Teladoc Health from $10.00 to $12.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Fourteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $12.08.

Insider Buying and Selling at Teladoc Health

In other news, Director Thomas Mckinley purchased 4,000 shares of the stock in a transaction dated Thursday, September 12th. The shares were bought at an average cost of $7.69 per share, for a total transaction of $30,760.00. Following the transaction, the director now owns 39,077 shares in the company, valued at $300,502.13. This trade represents a 11.40 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Michael Willem Waters sold 4,218 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $7.16, for a total value of $30,200.88. Following the transaction, the chief operating officer now directly owns 78,309 shares of the company’s stock, valued at $560,692.44. This represents a 5.11 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,051 shares of company stock valued at $143,565. Company insiders own 0.95% of the company’s stock.

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.