Teladoc (TDOC) Laps the Stock Market: Here's Why
Teladoc (TDOC) closed the latest trading day at $14.58, indicating a +1.32% change from the previous session's end. The stock outpaced the S&P 500's daily gain of 0.51%. At the same time, the Dow added 0.2%, and the tech-heavy Nasdaq gained 0.58%.
Prior to today's trading, shares of the telehealth services provider had lost 28.3% over the past month. This has lagged the Medical sector's gain of 2.54% and the S&P 500's gain of 2.94% in that time.
The investment community will be closely monitoring the performance of Teladoc in its forthcoming earnings report. It is anticipated that the company will report an EPS of -$0.46, marking a 24.32% fall compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $636.95 million, indicating a 1.23% growth compared to the corresponding quarter of the prior year.
TDOC's full-year Zacks Consensus Estimates are calling for earnings of -$1.12 per share and revenue of $2.66 billion. These results would represent year-over-year changes of +16.42% and +2.22%, respectively.
Investors should also note any recent changes to analyst estimates for Teladoc. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been a 17.36% rise in the Zacks Consensus EPS estimate. Teladoc is currently a Zacks Rank #3 (Hold).
The Medical Services industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 73, which puts it in the top 29% 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
