Teladoc (TDOC) closed at $8.32 in the latest trading session, marking a -5.56% move from the prior day. The stock's performance was behind the S&P 500's daily loss of 0.33%. Elsewhere, the Dow saw a downswing of 0.63%, while the tech-heavy Nasdaq depreciated by 0.22%.
Coming into today, shares of the telehealth services provider had gained 22.87% in the past month. In that same time, the Medical sector lost 0.32%, while the S&P 500 gained 4.07%.
Investors will be eagerly watching for the performance of Teladoc in its upcoming earnings disclosure. The company's upcoming EPS is projected at -$0.27, signifying a 3.57% increase compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $621.69 million, indicating a 3.23% downward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of -$1.2 per share and a revenue of $2.52 billion, demonstrating changes of +79.56% and -2.12%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for Teladoc. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 6.59% decrease. At present, Teladoc boasts a Zacks Rank of #3 (Hold).
The Medical Services industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 64, which puts it in the top 26% of all 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Teladoc Health, Inc. (TDOC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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