Teladoc (TDOC) Outpaces Stock Market Gains: What You Should Know
Teladoc (TDOC) closed the most recent trading day at $79.57, moving +1.36% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.08%. Meanwhile, the Dow lost 0.56%, and the Nasdaq, a tech-heavy index, lost 0.42%.
Coming into today, shares of the telehealth services provider had lost 10.21% in the past month. In that same time, the Medical sector lost 4.1%, while the S&P 500 gained 0.22%.
Teladoc will be looking to display strength as it nears its next earnings release. On that day, Teladoc is projected to report earnings of -$0.60 per share, which would represent a year-over-year decline of 122.22%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $545.34 million, up 42.27% from the year-ago period.
Any recent changes to analyst estimates for Teladoc should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 3.92% lower. Teladoc is currently sporting 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 206, which puts it in the bottom 20% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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 Report
To read this article on Zacks.com click here.
