In the latest close session, Teladoc (TDOC) was down 3.97% at $7.49. The stock's performance was behind the S&P 500's daily gain of 0.3%. At the same time, the Dow lost 0.48%, and the tech-heavy Nasdaq gained 0.03%.
Shares of the telehealth services provider have appreciated by 13.54% over the course of the past month, outperforming the Medical sector's gain of 7.07%, and the S&P 500's gain of 2.09%.
The upcoming earnings release of Teladoc will be of great interest to investors. The company's earnings per share (EPS) are projected to be -$0.24, reflecting a 26.32% decrease from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $625.56 million, down 2.33% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of -$1.17 per share and a revenue of $2.52 billion, demonstrating changes of +80.07% and -1.82%, respectively, from the preceding year.
Investors might also notice recent changes to analyst estimates for Teladoc. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.36% lower. Teladoc is currently a Zacks Rank #3 (Hold).
The Medical Services industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 146, positioning it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow TDOC in the coming trading sessions, be sure to utilize Zacks.com.
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