U.S. Markets closed

Is Teladoc Health (TDOC) Stock Outpacing Its Medical Peers This Year?

Zacks Equity Research

Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Has Teladoc Health (TDOC) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.

Teladoc Health is a member of our Medical group, which includes 889 different companies and currently sits at #2 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.

The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. TDOC is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for TDOC's full-year earnings has moved 6.30% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Based on the most recent data, TDOC has returned 54.53% so far this year. At the same time, Medical stocks have gained an average of 3.77%. This shows that Teladoc Health is outperforming its peers so far this year.

To break things down more, TDOC belongs to the Medical Services industry, a group that includes 31 individual companies and currently sits at #55 in the Zacks Industry Rank. This group has lost an average of 13.01% so far this year, so TDOC is performing better in this area.

Investors in the Medical sector will want to keep a close eye on TDOC as it attempts 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