In the latest trading session, Teladoc (TDOC) closed at $7.03, marking a +1.44% move from the previous day. The stock outpaced the S&P 500's daily loss of 1.62%. At the same time, the Dow lost 1.87%, and the tech-heavy Nasdaq lost 1.98%.
The telehealth services provider's stock has climbed by 2.36% in the past month, falling short of the Medical sector's gain of 5.04% and outpacing the S&P 500's loss of 0.03%.
The investment community will be closely monitoring the performance of Teladoc in its forthcoming earnings report. In that report, analysts expect Teladoc to post earnings of -$0.24 per share. This would mark a year-over-year decline of 26.32%. Meanwhile, our latest consensus estimate is calling for revenue of $614.69 million, down 2.72% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.92 per share and revenue of $2.51 billion, which would represent changes of +19.3% and -0.92%, respectively, from the prior year.
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, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.29% higher. Teladoc is currently sporting a Zacks Rank of #3 (Hold).
The Medical Services industry is part of the Medical sector. With its current Zacks Industry Rank of 110, this industry ranks in the top 46% of all industries, numbering over 250.
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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Teladoc Health, Inc. (TDOC): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).