Teladoc (TDOC) Stock Sinks As Market Gains: Here's Why
In the latest trading session, Teladoc (TDOC) closed at $21.80, marking a -0.05% move from the previous day. The stock trailed the S&P 500, which registered a daily gain of 0.57%. Elsewhere, the Dow saw an upswing of 0.46%, while the tech-heavy Nasdaq appreciated by 0.75%.
Shares of the telehealth services provider witnessed a gain of 14.19% over the previous month, beating the performance of the Medical sector with its gain of 6.86% and the S&P 500's gain of 3.4%.
The investment community will be paying close attention to the earnings performance of Teladoc in its upcoming release. 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, the latest consensus estimate predicts the revenue to be $670.77 million, indicating a 5.18% increase compared to the same quarter of the previous year.
It is also important to note the recent changes to analyst estimates for Teladoc. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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. Over the past month, there's been a 0.08% fall in the Zacks Consensus EPS estimate. Currently, Teladoc is carrying a Zacks Rank of #3 (Hold).
The Medical Services industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 171, placing it within the bottom 33% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Teladoc Health, Inc. (TDOC) : Free Stock Analysis Report
