Teladoc (TDOC) Exceeds Market Returns: Some Facts to Consider
The latest trading session saw Teladoc (TDOC) ending at $20.38, denoting a +1.85% adjustment from its last day's close. The stock outpaced the S&P 500's daily gain of 0.06%. Elsewhere, the Dow gained 0.13%, while the tech-heavy Nasdaq added 0.24%.
The telehealth services provider's shares have seen a decrease of 8.21% over the last month, not keeping up with the Medical sector's gain of 3.52% and the S&P 500's gain of 6.45%.
The upcoming earnings release of Teladoc will be of great interest to investors. The company's earnings report is expected on February 20, 2024. The company is forecasted to report an EPS of -$0.22, showcasing a 4.35% upward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $670.77 million, reflecting a 5.18% rise from the equivalent quarter last year.
Investors should also note any recent changes to analyst estimates for Teladoc. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Teladoc is currently sporting a Zacks Rank of #3 (Hold).
The Medical Services industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 169, finds itself in the bottom 33% echelons of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Teladoc Health, Inc. (TDOC) : Free Stock Analysis Report
