- Teladoc Health share value is rising during after hours trading.
- The effect is believed to be the result of their recent quarterly earnings release.
- TDOC stock price was trading at $29.55 at the time of this writing.
Teladoc Health (TDOC) Exceeding Expectations
The global health industry is among the most actively growing markets globally. Rising stock prices in the healthcare companies remains a hardcore proof of this growth. Recently, stocks of America’s largest telehealth service provider, Teladoc Health (TDOC), were seen awake during the extended hours in the market.
TDOC stock prices were changing hands at $29.55 at the time of this publication, a 9% increase in the after hours trading. The elevation comes as the company released its quarterly earnings, which shows 17% year on year increase in revenue to $611.4 Million. The figure exceeded the official expectations of $608.76 Million.
Teladoc Health shares witnessed their high time during February 2021 when TDOC stock was trading at $308, over tenfold value in contrast to the present day scenario. The company is currently active in 130 countries and has offered their services to more than 40 Million customers in 2021.
Can Teladoc Health Leverage Future Techs?
Teladoc Health was founded in 2002, and is the largest telemedicine organization in the US. The company instantly became a hit in the nation following their instant remote healthcare services to users. They acquired a medical consultancy firm, Best Doctors, for $440 Million in 2017, which remains their biggest acquisition to this date.
The organization leverages elements like artificial intelligence (AI), analytics, telehealth devices to provide their services. While video conferencing and over the phone engagement remains their core to facilitate medical assistance. The patients are free to interact with the doctors for consultancy at any hour.
Companies in the healthcare sector have increasing opportunities as the organizations are continuously leveraging new technologies. Metaverse remains the new favorite for the majority of sectors around the world. From entertainment to healthcare, entities from every market are showing a keen interest in digital spaces.
Many believe that the metaverse will take over the world in the future, where healthcare still remains the most vital element for human beings. Companies like Teladoc Health may use the digital spaces to offer their services via virtual reality instead of video conferencing. It may help increase the TDOC stock price in future considering the great potential of metaverse.
According to research, the healthcare industry grew at a Compound Annual Growth Rate (CAGR) of 8.4% to become a $7.4 Trillion industry in 2022 from $6.8 Trillion in 2021. New York Stock Exchange (NYSE) listed Teladoc Health has a potential to leverage the future technologies to become a rising star in the medical sector considering their history of utilizing advanced techs in the market.
NYSE is the biggest stock exchange globally and has a market capitalization of $26.2 Trillion at the time of writing.
Source: https://www.thecoinrepublic.com/2022/10/29/teladoc-health-tdoc-stock-price-experiences-healthy-trade-after-hours/