Is Teladoc Health Stock About to Take Off Again?
Early in the pandemic, shares of Teladoc Health (NYSE: TDOC) surged amid the growing popularity of telehealth. But even though things have nearly returned to normal, demand for telehealth services remains strong. It looks set to remain a key part of the healthcare industry, helping patients stay on top of chronic conditions such as diabetes and hypertension.
The stock, unfortunately, has taken a beating over the past few years and hasn't even returned to its pre-pandemic levels. But with Teladoc recently reporting some encouraging earnings numbers, could the stock be overdue for a rally?
On April 26, Teladoc Health reported its earnings numbers for the period ended March 31. A big positive was that the business's growth rate remained resilient. Sales of $629 million were up 11% year over year. While that's not as strong as the figures achieved during the early stages of the pandemic, when the stock was a red-hot buy, the growth rate hasn't fallen into the negative. At double digits, it's still a positive trajectory.
Source Fool.com
