HIMS vs. TDOC: Which Telehealth Stock Looks More Compelling?

Virtual care is steadily expanding as a mainstream healthcare channel, with Hims & Hers Health, Inc. HIMS and Teladoc Health, Inc. TDOC leveraging digital-first models to scale access. HIMS is a consumer-first, subscription-based telehealth platform that lets users discover treatments online, consult licensed providers and receive recurring prescription and wellness products through its integrated digital pharmacy model. TDOC is a global virtual care leader that delivers services through its Integrated Care segment — offering virtual medical visits, chronic care programs and enabling technology for employers, health plans and providers — and BetterHelp, its direct-to-consumer online therapy platform.

While Hims & Hers prioritizes a personalized, subscription-led experience built around recurring engagement and convenience, Teladoc Health scales virtual care through enterprise relationships alongside its consumer therapy offering. With both benefiting from the continued shift toward digital health and consumer-centric healthcare spending, the question remains: which stock offers the more attractive opportunity right now? Let’s take a closer look.

Stock Performance & Valuation: HIMS vs. TDOC

HIMS (down 37.4%) has underperformed TDOC (down 9.7%) over the past three months. In the past year, Hims & Hers has rallied 22.1% against Teladoc Health’s loss of 22.5%.

Meanwhile, HIMS is trading at a forward 12-month price-to-sales (P/S) ratio of 2.9X, above its median of 2.6X over the past three years. TDOC’s forward sales multiple sits at 0.5X, below its last three-year median of 0.7X. While TDOC appears cheap when compared with the Medical sector average of 2.2X, HIMS seems to be expensive. Currently, Hims & Hers and Teladoc Health stocks have a Value Score of C and B, respectively.

Factors Driving Hims & Hers Stock

Hims & Hers’ stock momentum is being supported by the company’s steady push into higher-demand specialties that expand its addressable market beyond its earlier core categories. The platform has recently broadened its scope in men’s health with the launch of low testosterone care, combining at-home lab testing with personalized treatment plans. Importantly, HIMS is also collaborating with Marius Pharmaceuticals to bring an exclusive branded oral testosterone (KYZATREX) to its platform, which is expected to launch in 2026 — strengthening differentiation and deepening long-term engagement.

Another key driver is the company’s shift toward a more data-driven, proactive healthcare model. With the introduction of Hims & Hers Labs, the company is extending its care pathway into diagnostics, giving customers access to in-depth testing, biomarker tracking and clinically guided plans that can inform treatment decisions and follow-up care. This approach supports more personalized care over time and can strengthen retention as users increasingly rely on the platform for broader health management.

Hims & Hers is accelerating international expansion, supported by acquisitions and targeted product rollouts. The company officially entered Canada following the acquisition of Livewell, while also scaling its international footprint through the launch of its comprehensive Weight Loss Programme in the U.K., alongside the official introduction of the Hers platform there. This global expansion strategy continues to widen HIMS’ reach and supports its longer-term growth narrative.

Factors Driving Teladoc Health Stock

Teladoc Health’s stock narrative is being shaped by its positioning as an integrated, enterprise-scale virtual care platform with broad clinical depth. The company is focused on building an integrated suite that spans primary care, chronic condition management and mental health, supported by technology and data-driven insights. This model is designed to strengthen long-term engagement with members and deepen value for employers, health plans, hospitals and health systems by offering a broader continuum of care rather than standalone virtual visits.

Another driver is Teladoc Health’s continued expansion of hospital and health system capabilities, where it is adding new use cases tied to operational support and care-team workflows. The company recently enhanced its Clarity monitoring solution by introducing a workplace safety capability that can detect escalating incidents and alert staff to support earlier intervention. With implementation expected in select systems in early 2026, this strengthens TDOC’s footprint in acute-care environments beyond traditional telehealth services.

Teladoc Health is also gaining attention for its efforts to stabilize performance while sharpening execution across its two segments. In third-quarter 2025, the company delivered results in the upper half of its guidance range, reflecting steady execution in Integrated Care and continued priorities such as advancing growth initiatives in Integrated Care and expanding insurance acceptance within BetterHelp. This steady progress reinforces confidence that Teladoc Health can improve consistency as it executes against its strategic roadmap.

Comparing EPS Projections: HIMS vs. TDOC

The Zacks Consensus Estimate for HIMS’ 2025 earnings per share (EPS) suggests a 77.8% improvement from 2024.

The Zacks Consensus Estimate for TDOC’s 2025 loss per share implies an improvement of 79.7% from 2024.

Price Target: Hims & Hers vs. Teladoc Health

Based on short-term price targets offered by 12 analysts, the average price target for Hims & Hers is $45.92, implying an increase of 31.9% from the last close.

Based on short-term price targets offered by 22 analysts, the average price target for Teladoc Health is $9.18, implying an increase of 27.3% from the last close.

Choose HIMS Over TDOC Now

While both Hims & Hers and Teladoc Health are benefiting from the continued shift toward virtual care, HIMS, a Zacks Rank #3 (Hold) firm, presents a more stable and financially sound investment opportunity at this stage. With expanding specialty offerings, a stronger push into diagnostics and accelerating international expansion, HIMS is building a broader digital health ecosystem that supports recurring engagement and long-term scalability. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Teladoc Health, also a Zacks Rank #3 stock, remains a leading enterprise-focused virtual care provider, supported by its Integrated Care platform and BetterHelp therapy business. Its expanding hospital and health system capabilities and efforts to sharpen execution across its two segments strengthen its longer-term stability narrative, though the company remains more exposed to enterprise demand cycles and segment-level volatility. For investors prioritizing subscription-led consumer healthcare growth with expanding categories and international runway, Hims & Hers stands out as the more compelling pick at this stage.

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This article originally published on Zacks Investment Research (zacks.com).

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