Teladoc (TDOC) closed at $7.79 in the latest trading session, marking a +0.39% move from the prior day. The stock lagged the S&P 500's daily gain of 0.67%. On the other hand, the Dow registered a gain of 0.56%, and the technology-centric Nasdaq increased by 0.87%.
The the stock of telehealth services provider has fallen by 15.65% in the past month, lagging the Medical sector's loss of 5.32% and the S&P 500's loss of 5.28%.
The investment community will be paying close attention to the earnings performance of Teladoc in its upcoming release. On that day, Teladoc is projected to report earnings of -$0.32 per share, which would represent year-over-year growth of 34.69%. Meanwhile, our latest consensus estimate is calling for revenue of $617.67 million, down 4.4% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.88 per share and revenue of $2.51 billion. These totals would mark changes of +85.01% and -2.16%, respectively, from last year.
Any recent changes to analyst estimates for Teladoc should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-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, 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, the Zacks Consensus EPS estimate has shifted 2.01% upward. 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 66, which puts it in the top 27% 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 ReportThis article originally published on Zacks Investment Research (zacks.com).
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