Teladoc (TDOC) Gains As Market Dips: What You Should Know
Teladoc (TDOC) closed at $25.03 in the latest trading session, marking a +1.3% move from the prior day. This move outpaced the S&P 500's daily loss of 0.33%. At the same time, the Dow lost 0.1%, and the tech-heavy Nasdaq lost 0.24%.
Coming into today, shares of the telehealth services provider had lost 21.08% in the past month. In that same time, the Medical sector lost 7.68%, while the S&P 500 lost 11.67%.
Teladoc will be looking to display strength as it nears its next earnings release, which is expected to be October 26, 2022. The company is expected to report EPS of -$0.59, down 11.32% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $608.82 million, up 16.71% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$61.39 per share and revenue of $2.4 billion. These totals would mark changes of -4515.79% and +18.09%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Teladoc. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 remained stagnant within the past month. Teladoc is currently sporting a Zacks Rank of #3 (Hold).
The Medical Services industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 140, which puts it in the bottom 45% 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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