Teladoc Health, Inc. TDOC is a pioneer and global leader in the telemedicine industry. It has a broad international presence, serving clients, supporting medical operations and reaching members worldwide. TDOC operates through two main segments — Integrated Care and BetterHelp. It serves markets across North America, South America, Europe, Asia-Pacific and the Middle East.
The stock has gained 4.5% year to date, outperforming its industry, which has declined 7.6% over the same period. In comparison, the Zacks Medical sector has fallen 4.5%, while the S&P 500 has advanced 11%.
Zack’s Rank and Valuation of TDOC
Teladoc currently carries a Zacks Rank #3 (Hold).
With a market capitalization of approximately $1.3 billion, TDOC trades at a forward price-to-sales (P/S) ratio of 0.53X, above the industry average of 0.47X. Despite this modest premium, the company's valuation remains attractive, supported by its strong relative performance and Value Score of B.
Where Do Estimates for TDOC Stand?
The consensus estimate for 2026 loss is pegged at 92 cents per share, suggesting a 19.3% year-over-year increase. The consensus estimate for 2026 revenues is pinned at $2.51 billion. TDOC beat earnings estimates in three of the trailing four quarters and missed once, delivering an average surprise of 15.7%.
Teladoc Health, Inc. Price, Consensus and EPS Surprise
Teladoc Health, Inc. price-consensus-eps-surprise-chart | Teladoc Health, Inc. Quote
Business Tailwinds for TDOC
Teladoc's Integrated Care business continues to provide stability amid challenges in other segments. Integrated Care revenues in first-quarter 2026 increased 2% year over year to $395.4 million, while adjusted EBITDA rose 12%. The segment also delivered margin expansion, underscoring strong execution and sustained demand for virtual healthcare services.
International operations remain a bright spot for Teladoc. Revenues from International operations grew 12.3% in 2024, 12% in 2025 and 17% year over year in the first quarter of 2026, reflecting sustained double-digit growth. Continued expansion in overseas markets and rising adoption of hybrid care models provide the company with a meaningful growth opportunity beyond the increasingly competitive U.S. market.
Teladoc continues to strengthen its platform through product innovation and strategic acquisitions. Recent launches, including enhancements to the Prism platform, the Cardiometabolic Program and Wellbound, broaden the company's service portfolio. At the same time, acquisitions such as Catapult Health and Telecare Australia expand its capabilities in preventive care, diagnostics and international healthcare delivery.
Teladoc is showing improved cost discipline, with total expenses declining 22.2% in 2025 and 9.9% year over year in the first quarter of 2026. Ongoing efficiency initiatives are supporting margins, and management projects adjusted EBITDA of $267-$306 million for 2026. Collectively, these trends suggest a clearer path toward profitability.
Key Risks to Consider
Despite its growth potential, there are a few concerns that investors should consider.
The BetterHelp segment, once a major growth engine for Teladoc, remains under pressure. Segment revenues declined 8.7% in 2025 and fell another 9% year over year in the first quarter of 2026, reflecting softer consumer demand and increased adoption of insurance-covered therapy services. Management expects BetterHelp revenues to decline 1-6.5% in 2026, indicating that challenges are likely to persist in the near term.
Teladoc faces intense competition in the virtual care market, which could pressure pricing and growth. The company also remains unprofitable, reporting an accumulated deficit of $16.5 billion as of March 31, 2026, largely due to substantial investments in growth initiatives and technology.
Key Picks
Some better-ranked stocks in the Medical space are Centene Corporation CNC, The Joint Corp. JYNT and Indivior Pharmaceuticals, Inc. INDV, each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for Centene’s 2026 earnings is pegged at $3.47 per share, indicating 66.8% year-over-year growth. It has witnessed nine upward revisions in the past 60 days, with no movement in the opposite direction. CNC beat earnings estimates in three of the trailing four quarters and missed once, with the average surprise being 74.9%. The consensus estimate for 2026 revenues is pinned at $191.03 billion.
The Zacks Consensus Estimate for Joint’s 2026 earnings is pegged at 51 cents per share, which has witnessed two upward revisions in the past 30 days, with no movement in the opposite direction. JYNT beat earnings estimates in each of the trailing four quarters, with the average surprise being 125.2%. The consensus estimate for 2026 revenues is pinned at $61.11 million, indicating an 11.3% year-over-year increase.
The Zacks Consensus Estimate for Indivior Pharmaceuticals’ 2026 earnings is pegged at $4.05 per share, indicating a 62% year-over-year improvement. INDV beat earnings estimates in each of the trailing four quarters, with the average surprise being 65.4%. The consensus estimate for 2026 revenues is pinned at $1.26 billion, implying 1.5% year-over-year growth.
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Centene Corporation (CNC): Free Stock Analysis Report
Teladoc Health, Inc. (TDOC): Free Stock Analysis Report
The Joint Corp. (JYNT): Free Stock Analysis Report
Indivior Pharmaceuticals Inc. (INDV): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).