Teladoc Doubles Down on Connected Care With New Partnerships

Virtual healthcare provider Teladoc Health TDOC recently expanded its connected care partnerships to include new specialties such as digestive health, centers of excellence, fertility and family building. This strategic move aims to enhance the company's integrated care offerings and improve healthcare outcomes for its members.New partners joining the program are: Cylinder Health and Oshi Health for digestive health, Carrum Health for centers of excellence for specialty care, and Carrot Fertility for fertility, family building and hormonal health. They are joining TDOC’s existing partners, Hinge Health and Sword Health (musculoskeletal care).Expanding into the above-mentioned areas makes Teladoc’s platform more comprehensive, which could improve engagement and retention. This is expected to provide the company a competitive edge. TDOC pointed to a survey that mentions more than 70% of large employers are seeking integrated solutions, which hints at a stronger enterprise adoption over time.With more than 93 million members, deeper integration of services could lead to higher utilization. This move will likely support long-term growth as these partnerships are expected to drive higher engagement, but execution is key.These collaborations are integrated into Teladoc's Prism care platform, enabling seamless referrals and enhancing the user experience through a unified application.The company's recent initiatives to diversify services and enhance care integration are viewed positively, though the competitive landscape and financial performance remain critical factors. Increased competition within the sector and broader market trends affecting digital health investments are causes of concern. TDOC shares have declined 40.6% in the past year compared with the industry’s fall of 19%.Image Source: Zacks Investment ResearchZacks Rank & Stocks to ConsiderTeladoc currently carries a Zacks Rank #3 (Hold).Some top-ranked and promising stocks in the broader Medical sector are Pediatrix Medical Group, Inc. MD, The Ensign Group, Inc. ENSG and Addus HomeCare Corporation ADUS. While Pediatrix Medical currently sports a Zacks Rank #1 (Strong Buy), Ensign and Addus HomeCare carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.The Zacks Consensus Estimate for Pediatrix Medical’s current-year earnings increased 3 cents in the past week. MD beat earnings estimates in each of the trailing four quarters, with an average surprise of 19.4%. The consensus mark for its current-year revenues is pegged at $1.9 billion.The Zacks Consensus Estimate for Ensign’s current-year earnings indicates 13.5% year-over-year growth. ENSG beat earnings estimates in each of the trailing four quarters, with an average surprise of 1.5%. The consensus mark for revenues implies a 14.3% increase from the year-ago period.The Zacks Consensus Estimate for Addus HomeCare’s current-year earnings signals a 13.5% increase from the year-ago reported figure. ADUS beat earnings estimates in three of the trailing four quarters and met once, with an average surprise of 5.8%. The consensus mark for its current-year revenues is pegged at $1.4 billion, which indicates 21.7% year-over-year growth.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Pediatrix Medical Group, Inc. (MD): Free Stock Analysis Report Addus HomeCare Corporation (ADUS): Free Stock Analysis Report The Ensign Group, Inc. (ENSG): Free Stock Analysis Report Teladoc Health, Inc. (TDOC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks