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Teladoc (TDOC) closed at $290.43 in the latest trading session, marking a +0.67% move from the prior day. This move outpaced the S&P 500's daily loss of 0.04%. Elsewhere, the Dow gained 0.2%, while the tech-heavy Nasdaq lost 0.25%.
Heading into today, shares of the telehealth services provider had gained 33.36% over the past month, outpacing the Medical sector's gain of 3.62% and the S&P 500's gain of 2.37% in that time.
Wall Street will be looking for positivity from TDOC as it approaches its next earnings report date. In that report, analysts expect TDOC to post earnings of -$0.29 per share. This would mark a year-over-year decline of 11.54%. Meanwhile, our latest consensus estimate is calling for revenue of $379 million, up 142.19% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for TDOC. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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.
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. The Zacks Consensus EPS estimate has moved 2.08% higher within the past month. TDOC 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 175, which puts it in the bottom 32% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Teladoc Health, Inc. (TDOC) : Free Stock Analysis Report
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