Teladoc (TDOC) ended the recent trading session at $6.28, demonstrating a -2.33% change from the preceding day's closing price. This move lagged the S&P 500's daily gain of 1.14%. At the same time, the Dow added 0.61%, and the tech-heavy Nasdaq gained 1.69%.
Prior to today's trading, shares of the telehealth services provider had lost 3.45% lagged the Medical sector's loss of 0.26% and the S&P 500's loss of 2.85%.
Market participants will be closely following the financial results of Teladoc in its upcoming release. The company's earnings per share (EPS) are projected to be -$0.23, reflecting a 9.52% decrease from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $585.55 million, down 6.53% from the year-ago period.
TDOC's full-year Zacks Consensus Estimates are calling for earnings of -$0.92 per share and revenue of $2.4 billion. These results would represent year-over-year changes of +19.3% and -5.03%, respectively.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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 1.28% lower. Teladoc is holding a Zacks Rank of #3 (Hold) right now.
The Medical Services industry is part of the Medical sector. At present, this industry carries a Zacks Industry Rank of 93, placing it within the top 38% of over 250 industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much 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).