Shares of Teladoc Health (NYSE: TDOC) leapt 8% on Monday, furthering the healthcare technology stock's torrid gains so far this year.
Several factors likely contributed to Teladoc's gains on Monday. The telehealth services provider delivered a strong first quarter at the end of April, with revenue surging 41% year over year to $180.8 million. Analysts ramped up their full-year growth projections for Teladoc in the days that followed.
Then on May 6, Teladoc released the results of a study highlighting the widespread negative impact of the coronavirus crisis on people's mental health. With the adoption of virtual care services rising, Teladoc could see increased demand for its services from patients seeking mental health treatment.
Source Fool.com