Teladoc (TDOC) Stock Sinks As Market Gains: What You Should Know
Teladoc (TDOC) closed the most recent trading day at $19.79, moving -0.25% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 1.07%. At the same time, the Dow added 0.35%, and the tech-heavy Nasdaq gained 1.74%.
Prior to today's trading, shares of the telehealth services provider had lost 7.12% over the past month. This has lagged the Medical sector's gain of 4.02% and the S&P 500's gain of 2.93% in that time.
The investment community will be closely monitoring the performance of Teladoc in its forthcoming earnings report. The company is scheduled to release its earnings on February 20, 2024. In that report, analysts expect Teladoc to post earnings of -$0.22 per share. This would mark year-over-year growth of 4.35%. Meanwhile, our latest consensus estimate is calling for revenue of $670.77 million, up 5.18% from the prior-year quarter.
It's also important for investors to be aware of any recent modifications to analyst estimates for Teladoc. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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. Within the past 30 days, our consensus EPS projection remained stagnant. At present, Teladoc boasts a Zacks Rank of #3 (Hold).
The Medical Services industry is part of the Medical sector. This group has a Zacks Industry Rank of 180, putting it in the bottom 29% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Teladoc Health, Inc. (TDOC) : Free Stock Analysis Report
