Teladoc (TDOC) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Teladoc (TDOC) closed at $163.27, marking a +1.73% move from the previous day. This change outpaced the S&P 500's 0.58% gain on the day.
Coming into today, shares of the telehealth services provider had gained 8.21% in the past month. In that same time, the Medical sector gained 2.01%, while the S&P 500 gained 2.17%.
Wall Street will be looking for positivity from TDOC as it approaches its next earnings report date. In that report, analysts expect TDOC to post earnings of -$0.59 per share. This would mark a year-over-year decline of 73.53%. Our most recent consensus estimate is calling for quarterly revenue of $500.96 million, up 107.84% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$3.02 per share and revenue of $2.01 billion. These totals would mark changes of -167.26% and +83.69%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for TDOC. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 2.12% lower. 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 189, putting it in the bottom 26% 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.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Teladoc Health, Inc. (TDOC) : Free Stock Analysis Report
To read this article on Zacks.com click here.
