Teladoc: Buying The Healthcare Future At A Discount

9/25/17

As discussed back in late June, Teladoc (TDOC) has a promising future transforming healthcare. At the time, the problem was the stock trading at a questionable valuation with the looming Q3 guidance likely to whack the stock due to the impact from the Best Doctors deal.

As predicted, Teladoc quickly dipped $7 to $28.60 during August. The question now is whether one bought the stock on the dip unlike me and whether one gets another opportunity after Baird downgraded the stock.

Teladoc failed to rally on the Q2 results as expected since Best Doctors will impact the reported growth rates going forward. The guidance for achieving Q4 EBITDA positive wasn't too bad, but the stock now has a valuation of $1.7 billion and revenue growth that may only approach 20% on an organic basis when factoring in the $100 million revenue runrate for Best Doctors.

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