Cathie Wood Adds $4.5M Worth Of Teladoc Shares, Cuts Stake Further In This Healthcare Stock

Cathie Wood-led Ark Investment Management bought 129,800 shares of healthcare company Teladoc Health Inc TDOC, valued at over $4.5 million, based on Tuesday’s closing price, via four of its exchange-traded funds (ETFs).

Teladoc is the ninth largest holding of the firm’s flagship fund Ark Innovation ETF ARKK, with a weight of 4.46%, according to the fund's website. Ark Innovation ETF itself holds more than 11.7 million shares in the firm valued at over $455 million.

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Earnings: Teladoc’s net loss totaled $3.1 billion for the June quarter, compared to $133.8 million in the same period last year. The firm’s revenue increased 18% to $592.4 million from a year earlier.

Analyst Rating: Berenberg has downgraded Teladoc’s rating from ‘buy’ to ‘hold,’ while changing the price target to $35 from $42 earlier, according to Benzinga Pro.

Other Buys: Ark Investment Management also bought 102,756 shares of Markforged Holding Corp MKFG valued at over $279,000 via two of its funds.

Sales: The firm sold 429,233 shares of Signify Health Inc SGFY via its flagship fund at a valuation of over $9.6 million based on Tuesday’s closing.

Signify is the 17th largest holding of Ark Innovation ETF with a weight of 2.58% valued at over $263 million.

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Posted In: Long IdeasNewsPenny StocksBroad U.S. Equity ETFsShort IdeasSpecialty ETFsSmall CapMarketsTrading IdeasETFsARK Investment ManagementCathie WoodEurasia
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