In the latest market close, Teladoc (TDOC) reached $9, with a +0.78% movement compared to the previous day. The stock's change was more than the S&P 500's daily loss of 0.76%. Meanwhile, the Dow experienced a drop of 1.14%, and the technology-dominated Nasdaq saw a decrease of 0.18%.
Shares of the telehealth services provider witnessed a loss of 35.57% over the previous month, trailing the performance of the Medical sector with its loss of 0.37% and the S&P 500's loss of 7.29%.
Market participants will be closely following the financial results of Teladoc in its upcoming release. The company is expected to report EPS of -$0.33, up 32.65% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $617.44 million, down 4.44% from the prior-year quarter.
TDOC's full-year Zacks Consensus Estimates are calling for earnings of -$0.90 per share and revenue of $2.51 billion. These results would represent year-over-year changes of +84.67% and -2.22%, respectively.
Investors might also notice recent changes to analyst estimates for Teladoc. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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, 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. Over the past month, the Zacks Consensus EPS estimate has moved 8.19% higher. Teladoc is currently a Zacks Rank #3 (Hold).
The Medical Services industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 71, finds itself in the top 29% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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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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