Teladoc (TDOC) Advances While Market Declines: Some Information for Investors
The latest trading session saw Teladoc (TDOC) ending at $15.08, denoting a +0.53% adjustment from its last day's close. The stock's performance was ahead of the S&P 500's daily loss of 0.31%. On the other hand, the Dow registered a loss of 0.41%, and the technology-centric Nasdaq decreased by 0.27%.
Coming into today, shares of the telehealth services provider had gained 3.45% in the past month. In that same time, the Medical sector lost 0.57%, while the S&P 500 gained 3.05%.
The investment community will be paying close attention to the earnings performance of Teladoc in its upcoming release. In that report, analysts expect Teladoc to post earnings of -$0.47 per share. This would mark a year-over-year decline of 27.03%. Alongside, our most recent consensus estimate is anticipating revenue of $636.69 million, indicating a 1.18% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$1.07 per share and revenue of $2.66 billion, indicating changes of +20.15% and +2.27%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Teladoc. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 2.35% lower. As of now, Teladoc holds a Zacks Rank of #3 (Hold).
The Medical Services industry is part of the Medical sector. This group has a Zacks Industry Rank of 67, putting it in the top 27% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Teladoc Health, Inc. (TDOC) : Free Stock Analysis Report
