Why Teladoc Stock Flatlined on Wednesday

Investors usually react positively to news of a company's expansion of a major product or service. That, however, was not the case with telehealth leader Teladoc Health (NYSE: TDOC) on Wednesday. The company's announcement of a widening of a recently introduced service was met with a collective shrug by the market, and the stock ended up trading flat across the day.

Teladoc announced that it is widening the "capabilities" of that service, Primary360. Among other offerings, patients can take advantage of health plan in-network referrals and what the company calls "care coordination support." Through online pharmacy service Capsule, they will be eligible for same-day medication delivery free of extra charge, and they can book in-home, on-demand blood draw appointments.

Primary360 was launched last October. It's a primary care solution aimed at insurers, businesses, and other entities that sponsor healthcare schemes for their people. In rolling it out, Teladoc said its research revealed that most of its members did not utilize primary care to help monitor their health and tackle any issues as soon as possible.

Source Fool.com