Teladoc (TDOC) closed at $218.56 in the latest trading session, marking a -1.47% move from the prior day. This move lagged the S&P 500's daily loss of 0.34%. Elsewhere, the Dow lost 0.5%, while the tech-heavy Nasdaq lost 0.73%.
Coming into today, shares of the telehealth services provider had gained 15.5% in the past month. In that same time, the Medical sector gained 5.8%, while the S&P 500 gained 5.71%.
TDOC will be looking to display strength as it nears its next earnings release, which is expected to be July 29, 2020. On that day, TDOC is projected to report earnings of -$0.23 per share, which would represent year-over-year growth of 43.9%. Our most recent consensus estimate is calling for quarterly revenue of $220.22 million, up 69.04% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$1.12 per share and revenue of $845.38 million. These totals would mark changes of +18.84% and +52.79%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for TDOC. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.59% higher. TDOC currently has a Zacks Rank of #2 (Buy).
The Medical Services industry is part of the Medical sector. This group has a Zacks Industry Rank of 105, putting it in the top 42% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within 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 follow all of these stock-moving metrics, and many more, on Zacks.com.
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Teladoc Health, Inc. (TDOC) : Free Stock Analysis Report
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