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Teladoc (TDOC) Gains As Market Dips: What You Should Know

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Zacks Equity Research
·2 min read
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In the latest trading session, Teladoc (TDOC) closed at $263.83, marking a +0.38% move from the previous day. This change outpaced the S&P 500's 1.93% loss on the day. Meanwhile, the Dow lost 2.03%, and the Nasdaq, a tech-heavy index, lost 2%.

Coming into today, shares of the telehealth services provider had gained 34.57% in the past month. In that same time, the Medical sector gained 2.12%, while the S&P 500 gained 1.48%.

Investors will be hoping for strength from TDOC as it approaches its next earnings release. The company is expected to report EPS of -$0.29, down 11.54% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $376.80 million, up 140.78% from the year-ago period.

Any recent changes to analyst estimates for TDOC should also be noted by investors. 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.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 6.36% higher within the past month. TDOC is holding a Zacks Rank of #2 (Buy) right now.

The Medical Services industry is part of the Medical sector. This group has a Zacks Industry Rank of 130, putting it in the top 50% of all 250+ industries.

The Zacks Industry Rank includes is listed in order 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.

To follow TDOC in the coming trading sessions, be sure to utilize Zacks.com.


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