Teladoc (TDOC) Outpaces Stock Market Gains: What You Should Know
Teladoc (TDOC) closed at $204.15 in the latest trading session, marking a +1.58% move from the prior day. This move outpaced the S&P 500's daily gain of 0.57%. At the same time, the Dow added 1.44%, and the tech-heavy Nasdaq lost 0.61%.
Coming into today, shares of the telehealth services provider had gained 1.37% in the past month. In that same time, the Medical sector lost 0.91%, while the S&P 500 gained 0.83%.
TDOC will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of -$0.30, down 15.38% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $370.87 million, up 137% from the year-ago period.
Investors might also notice recent changes to analyst estimates for TDOC. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 remained stagnant within the past month. TDOC is holding a Zacks Rank of #3 (Hold) right now.
The Medical Services industry is part of the Medical sector. This group has a Zacks Industry Rank of 215, putting it in the bottom 16% 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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