Teladoc (TDOC) closed the most recent trading day at $6.99, moving -3.59% from the previous trading session. The stock fell short of the S&P 500, which registered a loss of 0.19% for the day. On the other hand, the Dow registered a loss of 0.8%, and the technology-centric Nasdaq decreased by 0.1%.
The telehealth services provider's stock has dropped by 1.23% in the past month, falling short of the Medical sector's gain of 0.48% and the S&P 500's gain of 2.26%.
Analysts and investors alike will be keeping a close eye on the performance of Teladoc in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be -$0.19, reflecting a 32.14% increase from the same quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $634.53 million, indicating a 0.93% decline compared to the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$1.19 per share and revenue of $2.52 billion, indicating changes of +79.73% and 0%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Teladoc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. As of now, Teladoc holds a Zacks Rank of #3 (Hold).
The Medical Services industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 195, finds itself in the bottom 21% echelons 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.
You can find more information on all of these metrics, and much 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 ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
