Teladoc (TDOC) closed at $228.43 in the latest trading session, marking a +1.74% move from the prior day. This change outpaced the S&P 500's 0.56% loss on the day. Meanwhile, the Dow lost 1.39%, and the Nasdaq, a tech-heavy index, added 0.53%.
Heading into today, shares of the telehealth services provider had gained 27.06% over the past month, outpacing the Medical sector's loss of 1.33% and the S&P 500's loss of 1.79% in that time.
Investors will be hoping for strength from TDOC as it approaches its next earnings release. The company is expected to report EPS of -$0.23, up 43.9% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales 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.
It is also important to note the recent changes to analyst estimates for TDOC. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.59% higher within the past month. TDOC currently has a Zacks Rank of #2 (Buy).
The Medical Services industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 92, which puts it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow TDOC in the coming trading sessions, be sure to utilize Zacks.com.
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Teladoc Health, Inc. (TDOC) : Free Stock Analysis Report
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