Why Teladoc (TDOC) Outpaced the Stock Market Today
Teladoc (TDOC) ended the recent trading session at $6.16, demonstrating a +1.15% change from the preceding day's closing price. The stock's performance was ahead of the S&P 500's daily gain of 0.86%. Meanwhile, the Dow gained 0.98%, and the Nasdaq, a tech-heavy index, added 0.96%.
Prior to today's trading, shares of the telehealth services provider had lost 12.5% lagged the Medical sector's loss of 2.34% and the S&P 500's loss of 1.96%.
The investment community will be paying close attention to the earnings performance of TeladocTDOC-- in its upcoming release. The company's upcoming EPS is projected at -$0.22, signifying a 4.76% drop compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $585.55 million, down 6.53% from the prior-year quarter.
TDOC's full-year Zacks Consensus Estimates are calling for earnings of -$0.9 per share and revenue of $2.4 billion. These results would represent year-over-year changes of +21.05% and -5.03%, respectively.
It is also important to note the recent changes to analyst estimates for Teladoc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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 past month, there's been a 0.83% fall in the Zacks Consensus EPS estimate. Teladoc is currently sporting a Zacks Rank of #3 (Hold).
The Medical Services industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 88, positioning it in the top 36% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Teladoc Health, Inc. (TDOC): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
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