Why Shares of Teladoc Health Climbed This Week
Shares of telehealth provider Teladoc Health (NYSE: TDOC) were up 19.9% this week as of Friday afternoon, according to data provided by S&P Global Market Intelligence. The stock closed last week at $22.39, then rose as high as $26.98 on Friday. The stock is down more than 66% over the past 12 months and has a 52-week low of $21.60 and a 52-week high of $82.99.
The healthcare company released slightly sunnier fourth-quarter guidance on Monday, pushing the stock up all week. The company said that it now expected 2022 fourth-quarter revenue to be between $633 million and $640 million (compared to between $625 million and $640 million), and yearly revenue to be between $2.403 billion and $2.41 billion (compared to earlier projections between $2.39 billion and $2.41 billion).
One reason for the improved guidance was the performance of Teladoc's direct-to-consumer mental health platform, BetterHelp. It had $700 million in revenue in 2021 and the company said it expects $1 billion in revenue this year from the platform.
Source Fool.com
