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Teladoc (TDOC) Harnesses AI for Diabetes Care, Stock Rises 6.7%
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Teladoc Health, Inc. (TDOC - Free Report) recently showcased data from two studies at the American Diabetes Association's 84th Scientific Sessions. These studies highlight Teladoc's predictive modeling capabilities in aiding members with type 2 diabetes to manage their blood sugar levels through its diabetes management program. Following the news, the stock gained 6.7% yesterday.
Members identified as at-risk for uncontrolled diabetes by artificial intelligence (AI) and prompted with health notifications or nudges on their mobile phones were three times more likely to engage in the program, resulting in a 0.4-point reduction in A1c (a test that measures average blood sugar levels over the past three months) levels. The participating members witnessed a decline in A1c levels to 7.8% from 8.2%.
Moreover, program members who received weekly emails with personalized next-best actions were 50% more likely to consult with a health coach. Teladoc provides virtual chronic care management for diabetes, hypertension and weight management. It had 1.1 million members in chronic care management programs in the first quarter, a 9% increase from last year. Using machine learning, the company is expected to continue providing better care for its members, which will likely bring more people into its programs.
Leveraging AI is helping the company with digital interventions, while keeping the human touch in member interactions, leading to better health outcomes. AI can also help the company to streamline healthcare delivery, making it more efficient and scalable. This can enable TDOC to reach more members with personalized guidance.
Teladoc's acquisition of Livongo in 2020, valued at $18.5 billion, aimed to enhance its digital chronic condition management offerings. By integrating Livongo's expertise in chronic disease management with Teladoc's telehealth capabilities, the acquisition was intended to consolidate comprehensive solutions for patients. However, in 2022, Teladoc faced significant losses due to a decline in Livongo's valuation. As such, the latest data may offer investors some relief.
YTD Price Performance
Shares of Teladoc have declined 51.9% in the year-to-date period against the 4.1% growth of the industry.
The Zacks Consensus Estimate for Sera Prognostics’ 2024 bottom line suggests a 19% year-over-year improvement. SERA beat earnings estimates once in the past four quarters, met twice and missed on the other occasion, with an average surprise of 3.7%. The consensus mark for its current-year revenues indicates a 14.4% year-over-year increase.
The Zacks Consensus Estimate for Elevance Health’s current-year earnings implies a 12.4% increase from the year-ago reported figure. ELV beat earnings estimates in each of the last four quarters, with an average surprise of 2.8%. The consensus mark for its current-year revenues is pegged at $172.1 billion, which indicates a 1.1% year-over-year increase.
The Zacks Consensus Estimate for Aura Biosciences’ current-year earnings suggests a 6.7% year-over-year improvement. It has witnessed two upward estimate revisions over the past 60 days against no movement in the opposite direction. AURA beat earnings estimates in three of the past four quarters and missed once, with an average surprise of 1.6%.
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Teladoc (TDOC) Harnesses AI for Diabetes Care, Stock Rises 6.7%
Teladoc Health, Inc. (TDOC - Free Report) recently showcased data from two studies at the American Diabetes Association's 84th Scientific Sessions. These studies highlight Teladoc's predictive modeling capabilities in aiding members with type 2 diabetes to manage their blood sugar levels through its diabetes management program. Following the news, the stock gained 6.7% yesterday.
Members identified as at-risk for uncontrolled diabetes by artificial intelligence (AI) and prompted with health notifications or nudges on their mobile phones were three times more likely to engage in the program, resulting in a 0.4-point reduction in A1c (a test that measures average blood sugar levels over the past three months) levels. The participating members witnessed a decline in A1c levels to 7.8% from 8.2%.
Moreover, program members who received weekly emails with personalized next-best actions were 50% more likely to consult with a health coach. Teladoc provides virtual chronic care management for diabetes, hypertension and weight management. It had 1.1 million members in chronic care management programs in the first quarter, a 9% increase from last year. Using machine learning, the company is expected to continue providing better care for its members, which will likely bring more people into its programs.
Leveraging AI is helping the company with digital interventions, while keeping the human touch in member interactions, leading to better health outcomes. AI can also help the company to streamline healthcare delivery, making it more efficient and scalable. This can enable TDOC to reach more members with personalized guidance.
Teladoc's acquisition of Livongo in 2020, valued at $18.5 billion, aimed to enhance its digital chronic condition management offerings. By integrating Livongo's expertise in chronic disease management with Teladoc's telehealth capabilities, the acquisition was intended to consolidate comprehensive solutions for patients. However, in 2022, Teladoc faced significant losses due to a decline in Livongo's valuation. As such, the latest data may offer investors some relief.
YTD Price Performance
Shares of Teladoc have declined 51.9% in the year-to-date period against the 4.1% growth of the industry.
Image Source: Zacks Investment Research
Zacks Rank & Stocks to Consider
Teladoc currently carries a Zacks Rank #3 (Hold).
Investors interested in the broader Medical space may look at some better-ranked players like Sera Prognostics, Inc. (SERA - Free Report) , Elevance Health, Inc. (ELV - Free Report) and Aura Biosciences, Inc. (AURA - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for Sera Prognostics’ 2024 bottom line suggests a 19% year-over-year improvement. SERA beat earnings estimates once in the past four quarters, met twice and missed on the other occasion, with an average surprise of 3.7%. The consensus mark for its current-year revenues indicates a 14.4% year-over-year increase.
The Zacks Consensus Estimate for Elevance Health’s current-year earnings implies a 12.4% increase from the year-ago reported figure. ELV beat earnings estimates in each of the last four quarters, with an average surprise of 2.8%. The consensus mark for its current-year revenues is pegged at $172.1 billion, which indicates a 1.1% year-over-year increase.
The Zacks Consensus Estimate for Aura Biosciences’ current-year earnings suggests a 6.7% year-over-year improvement. It has witnessed two upward estimate revisions over the past 60 days against no movement in the opposite direction. AURA beat earnings estimates in three of the past four quarters and missed once, with an average surprise of 1.6%.