Invenomic Capital Management LP Buys 896,552 Shares of Teladoc Health, Inc. (NYSE:TDOC)

Invenomic Capital Management LP lifted its position in Teladoc Health, Inc. (NYSE:TDOC) by 155.2% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,474,337 shares of the health services provider’s stock after acquiring an additional 896,552 shares during the period. Invenomic Capital Management LP’s holdings in Teladoc Health were worth $13,534,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Centiva Capital LP acquired a new position in Teladoc Health during the third quarter worth $288,000. Point72 Asia Singapore Pte. Ltd. grew its stake in shares of 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 worth $135,000 after purchasing an additional 7,773 shares during the period. Edgestream Partners L.P. purchased a new position in Teladoc Health in the 3rd quarter valued at about $1,831,000. MetLife Investment Management LLC increased its position in Teladoc Health by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 98,504 shares of the health services provider’s stock worth $904,000 after purchasing an additional 55,503 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Teladoc Health by 477.1% during the 3rd 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. 76.82% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Teladoc Health

In related news, Director Thomas Mckinley bought 4,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was bought at an average cost of $7.69 per share, for a total transaction of $30,760.00. Following the completion of the purchase, the director now directly owns 39,077 shares in the company, valued at approximately $300,502.13. The trade was a 11.40 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.95% of the stock is owned by insiders.

Teladoc Health Stock Performance

NYSE TDOC opened at $11.15 on Tuesday. Teladoc Health, Inc. has a twelve month low of $6.76 and a twelve month high of $22.54. The company has a quick ratio of 1.69, a current ratio of 1.73 and a debt-to-equity ratio of 0.66. The business has a 50-day moving average price of $9.44 and a 200-day moving average price of $9.22. The firm has a market cap of $1.92 billion, a price-to-earnings ratio of -1.98 and a beta of 0.97.

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

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on TDOC shares. Deutsche Bank Aktiengesellschaft lifted their price target on Teladoc Health from $10.00 to $12.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. lowered their price target on Teladoc Health from $16.00 to $9.00 and set a “neutral” rating for the company in a report on Monday, August 26th. Jefferies Financial Group raised their price objective on Teladoc Health from $8.00 to $10.00 and gave the company a “hold” rating in a research report on Tuesday, September 17th. Piper Sandler decreased their price target on Teladoc Health from $25.00 to $10.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Finally, The Goldman Sachs Group began coverage on Teladoc Health in a research note on Friday, November 15th. They set a “buy” rating and a $14.00 target price for the company. Fourteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target 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.