Is Teladoc Health (TDOC) Headed for a Big Move?

Teladoc Health, Inc. (TDOC) is a virtual health provider with a telehealth platform delivering 24-hour, on-demand healthcare via mobile devices, the Internet, video, and phone. It also offers remote patient monitoring programs for chronic care management. Its platform connects members with a network of physicians and behavioral health professionals…

Demand for Teladoc Health’s (TDOC) offerings have been decreasing this year after a surge in demand last year. Even as the Delta variant soared across the country, doctor’s started seeing patients in the office again. The company’s 2021 guidance for membership and visit growth is now lower than last year’s.

As of the most recent quarter the company had $786 million in cash, which compared favorably to no short-term debt. In terms of growth, TDOC’s earnings are expected to fall 48.8% year over year in the current quarter.

Plus, the stock looks overvalued with a high price-to-sales ratio of 10.8. The stock has been showing bearish momentum since July as shown in the chart below.

Take a look at the 1-year chart of TDOC below with my added notations…

See chart and continue reading at STOCKNEWS.com