Teladoc (TDOC) ended the recent trading session at $5.10, demonstrating a -2.86% change from the preceding day's closing price. This change lagged the S&P 500's daily loss of 0.11%. Meanwhile, the Dow experienced a drop of 0.56%, and the technology-dominated Nasdaq saw an increase of 0.35%.
The stock of telehealth services provider has fallen by 2.05% in the past month, leading the Medical sector's loss of 4.34% and undershooting the S&P 500's gain of 0.51%.
The upcoming earnings release of Teladoc will be of great interest to investors. The company is forecasted to report an EPS of -$0.3, showcasing a 57.89% downward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $612.3 million, indicating a 2.71% decline compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of -$0.86 per share and a revenue of $2.51 billion, representing changes of +24.56% and -0.81%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Teladoc. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 moved 0.6% higher. 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 143, positioning it in the bottom 42% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Teladoc Health, Inc. (TDOC): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).