TDOC - Embedded Expectations Analysis - 2021 05 06
Teladoc Health, Inc. (TDOC:USA) currently above historical averages relative to UAFRS-based (Uniform) earnings, with a 109.4x Uniform P/E. At these levels, the market is pricing in bullish expectations for the firm, but management may have concerns about acquisition integration, their telemedicine capabilities, and paid membership growthSpecifically, management may lack confidence in their ability to sustain their positive business momentum through 2021, capitalize on new growth opportunities, and drive utilization increases from repeat users. In addition, they may be exaggerating the breadth and geographic reach of their virtual care capabilities, particularly Primary360. Furthermore, management may lack confidence in their ability to generate revenue synergies with Livongo and InTouch and integrate acquired products and services. Moreover, they may have concerns about the sustainability of paid membership growth, strong visit volumes, and demand for their licensed health care system platform
Teladoc Health is a provider of virtual healthcare services. The company provides virtual access to care and capabilities, with a portfolio of services and solutions covering medical subspecialties from non-urgent, episodic needs like flu and upper respiratory infections, to medical conditions like cancer and congestive heart failure. In its behavioral health business, branded BetterHelp, the company serves individuals in the direct-to-consumer market and through business partnerships with other brands. The company's consumer brands, which include Teladoc, Advance Medical, Best Doctors, BetterHelp and HealthiestYou, deliver access to advice and resolution to an array of healthcare needs.
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