Teladoc Health, Inc. (NYSE:TDOC) shares are trading lower Thursday after the company issued weak guidance.
What Happened: On Wednesday after market closure, Teladoc announced its full-year and fourth-quarter 2022 results. The company also provided guidance for the first quarter and full-year 2023.
The Details: Teladoc Health said it expects first-quarter losses in the range of $0.55-$0.45 per share, and quarterly revenues of $610 million-$625 million versus analyst estimates of $642.43 million.
The telehealth company expects full-year 2023 losses in the range of $1.75-$1.25 per share, and yearly revenues in the range of $2.55 billion-$2.68 billion versus analyst estimates of $2.71 billion.
Teladoc Health reported quarterly sales of $637.71 million, slightly beating the analyst consensus estimate of $633.65 million. Additionally, the company reported yearly sales of $2.41 billion. Teladoc reported quarterly losses of $0.23 per share, beating analyst estimates for losses of $0.25 per share, but the number marked a significant decline over losses of $0.07 per share last year.
“Despite a challenging macro environment, we were able to expand our product offerings and enhance the level of care delivered across our integrated whole-person platform,” said Jason Gorevic, CEO of Teladoc Health.
Following the company’s quarterly results, multiple analysts weighed in. Although one firm cut its price target, all maintained Outperform ratings on the stock.
Teladoc Health aims to empower all people everywhere to live their healthiest lives by transforming the healthcare experience. Teladoc uses proprietary health signals and personalized interactions to drive better health outcomes across the full continuum of care.
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According to data from Benzinga Pro, Teladoc Health shares were down 14.4%, trading at $25.18 at the time of publication. The stock has a 52-week high of $79.90 and a 52-week low of $21.60.
Photo: courtesy of Teladoc Health.
