By Kuldip K. Ambastha
Teladoc Health, Inc. (TDOC) is a multinational virtual healthcare and telemedicine company. On Thursday, April 29, 2021, the company’s stock dropped by -8.3% for the trading day. Wall Street research analysts had expected a net loss for the latest (1Q2021) quarterly results. Teladoc surprised Wall Street research analysts by announcing a net loss which was larger in absolute value magnitude than expected. Specifically, on a per share basis for the calendar quarter of 1Q2021, Teladoc’s diluted net loss was -$1.31, while the Wall Street research analyst consensus estimate was instead -$0.54.
While total revenues were strong, total expenses were very high and thus led to a significant net loss in 1Q2021. After the net loss was announced, various Wall Street research analysts revised their analyses to reflect lower price targets for the stock going forward. The virtual healthcare and telemedicine sector has benefited from patients seeking out efficient, accessible, technology-based health solutions, but Teladoc nonetheless had a tough 1Q2021.
Keywords – Teladoc Health, Inc., Teladoc Health, Teladoc, multinational, virtual, healthcare, telemedicine, health solutions, Wall Street, 1Q2021, net loss, price target.
Disclosure – The principals and clients of Ambastha Financial LLC have no positions in TDOC.
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