In the latest close session, Teladoc (TDOC) was up +2.03% at $8.04. This move outpaced the S&P 500's daily gain of 0.54%. On the other hand, the Dow registered a gain of 0.52%, and the technology-centric Nasdaq increased by 0.74%.
The stock of telehealth services provider has risen by 12.41% in the past month, leading the Medical sector's loss of 2.12% and the S&P 500's gain of 4.2%.
Market participants will be closely following the financial results of Teladoc in its upcoming release. The company's upcoming EPS is projected at -$0.27, signifying a 3.57% increase compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $621.69 million, down 3.23% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$1.2 per share and revenue of $2.52 billion, indicating changes of +79.56% and -2.12%, respectively, compared to the previous year.
Any recent changes to analyst estimates for Teladoc should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
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. The Zacks Consensus EPS estimate has moved 3.2% lower within the past month. At present, Teladoc boasts a Zacks Rank of #4 (Sell).
The Medical Services industry is part of the Medical sector. This group has a Zacks Industry Rank of 91, putting it in the top 37% 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.
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 ReportThis article originally published on Zacks Investment Research (zacks.com).
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