Leerink Partners analyst Michael Cherny has reiterated their neutral stance on TDOC stock, giving a Hold rating yesterday.
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Michael Cherny has given his Hold rating due to a combination of factors related to Teladoc’s recent activities and overall business strategy. The acquisition of Catapult Health is seen as a strategic move to boost Teladoc’s Integrated Care segments, yet there is uncertainty regarding the long-term value and financial implications of this integration. The history of Teladoc’s mergers and acquisitions has been inconsistent, and while small acquisitions are logical, the primary focus for improving stock performance should be on stabilizing and enhancing the core business.
Moreover, the imminent report on the fourth quarter of 2024 is anticipated to shed more light on the Catapult Health deal. However, the current phase of Teladoc’s business restructuring leaves analysts waiting for clearer indicators of growth. Due to these factors, Michael Cherny maintains a neutral stance with a Hold rating, as the company navigates through these transitional elements.
TDOC’s price has also changed dramatically for the past six months – from $7.600 to $11.000, which is a 44.74% increase.