Teladoc Health Inc – Buy Healthcare Stocks Today
Technology is aiding in the transformation of how people access healthcare wherever they live. Video conferencing allows for seamless interaction between the patient and the doctor. Online payments facilitate the earnings of medical professionals. Digitization of patient records creates a powerful database that can be leveraged for quality decision-making. Technology mixed with healthcare has led to telemedicine and virtual healthcare. It now seems poised to be among the key trends that shape the future of healthcare. Any investor who is interested in finding the top stocks in the healthcare sector will do well to pay heed to such emerging trends. One of the top companies in the telemedicine segment is Teladoc Health. It was ranked as the number one direct-to-consumer telehealth provider in JD Power’s 2021 US Telehealth Satisfaction Study.
Teladoc Announces Its Q32021 Earnings Figures
On 27th October 2021, Teladoc Health announced its third-quarter 2021 earnings numbers. Its total revenue was up significantly from $288.8 million in Q32020 to $521.6 million in Q32021. Its paid US membership number went up from 51.5 million in Q32020 to 52.5 million in Q32021. Net loss per diluted share came in at $0.53 as compared to $0.43 in Q32020. The GAAP gross margin improved from 63.3% in Q32020 to 67.1% in Q32021. The revenue guidance for 2021 is slightly north of $2 billion. Net loss per share is expected to be in the range of $3.2 to $3.4. The company’s CEO Jason Gorevic commented how the company’s revenue had grown 81% year on year. He also highlighted that consumers continue to rely on Teladoc’s platform even after increasing vaccination rates and easing restrictions. If you want to buy healthcare stocks today, then studying companies like Teladoc is worth the effort.
Besides Teladoc, some of the other leading names in the telehealth segment are Livongo, 98point6, Navigating Cancer, and 23andMe. Even tech giant Amazon is taking a dip in the telemedicine space with Amazon Care. It is currently available to Amazon employees but could easily end up being a nationwide service.