Is Teladoc Health (TDOC) Outperforming Other Medical Stocks This Year?
Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Is Teladoc Health (TDOC) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Medical peers, we might be able to answer that question.
Teladoc Health is a member of the Medical sector. This group includes 980 individual stocks and currently holds a Zacks Sector Rank of #16. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. TDOC is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for TDOC's full-year earnings has moved 12.66% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, TDOC has returned 43.14% so far this year. At the same time, Medical stocks have gained an average of 3.34%. This shows that Teladoc Health is outperforming its peers so far this year.
Looking more specifically, TDOC belongs to the Medical Services industry, which includes 40 individual stocks and currently sits at #129 in the Zacks Industry Rank. On average, this group has lost an average of 0.57% so far this year, meaning that TDOC is performing better in terms of year-to-date returns.
Investors with an interest in Medical stocks should continue to track TDOC. The stock will be looking to continue its solid performance.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Teladoc Health, Inc. (TDOC) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
