Teladoc (TDOC) Outpaces Stock Market Gains: What You Should Know
In the latest market close, Teladoc (TDOC) reached $20.35, with a +0.79% movement compared to the previous day. This move outpaced the S&P 500's daily gain of 0.53%. Meanwhile, the Dow experienced a rise of 0.64%, and the technology-dominated Nasdaq saw an increase of 0.19%.
The telehealth services provider's stock has dropped by 8.52% in the past month, falling short of the Medical sector's gain of 1.36% and the S&P 500's gain of 2.48%.
Investors will be eagerly watching for the performance of Teladoc in its upcoming earnings disclosure. In that report, analysts expect Teladoc to post earnings of -$0.22 per share. This would mark year-over-year growth of 4.35%. In the meantime, our current consensus estimate forecasts the revenue to be $670.77 million, indicating a 5.18% growth compared to the corresponding quarter of the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Teladoc. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Teladoc currently has a Zacks Rank of #3 (Hold).
The Medical Services industry is part of the Medical sector. With its current Zacks Industry Rank of 172, this industry ranks in the bottom 32% of all industries, numbering over 250.
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.
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
