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Monday, August 15, 2022

Teladoc Health Inc. (TDOC): Analyst View Points To Future Growth

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Many investors believed it was a horrible decision when Teladoc Health Inc. (NYSE: TDOC) purchased the healthy living app Livongo. However, after a few quarters, the application becomes a source of growth for TDOC.

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Analysts at Piper Sandler predicted last week that Teladoc Health Inc. (TDOCsecond-quarter )’s earnings would meet Wall Street’s expectations. Simultaneously, analysts forecasted based on an analysis of the number of downloads of the Livongo Health application, which enables patients with chronic conditions to regulate their condition and live a healthy lifestyle.

Piper Sandler discovered a “moderate acceleration” in downloading the Livongo app in July. As a consequence, analysts maintained their “buy” rating on Teladoc Health stock and reaffirmed the target price of $42.

TDOC supply increased dramatically during the pandemic’s severe phases, as the number of requests for remote consultations increased. As a result, some investors still regard Teladoc Health Inc. (TDOC) as a firm that can only do well during a pandemic.

The future of telemedicine, however, extends far beyond COVID-19. This is a relatively young market in healthcare, with the major drivers being population ageing, a scarcity of medical professionals, and technological advancements that make remote diagnostics easier to employ.

Teladoc Health Inc. (TDOC) anticipates a 20 percent rise by the end of the year. This is a significant deceleration from a more than 80% increase last year. However, the years 2020-2021 were not typical for practically any industry, including telemedicine, thus the comparison with these years is incorrect.

Despite its rapid growth during the epidemic, telemedicine is still in its early stages. Teladoc Health Inc. (TDOC), one of the top leaders in this industry, has the potential to be the primary benefactor of the expanding market.

Over the last year, the company’s share price has fallen by -75.45 percent. The stock price increased by 11.77 percent in the past five trades and by 9.85 percent in the last 30 trades. However, the share price has dropped by -52.39 percent in the recent six months and by -43.41 percent in the preceding three months.

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