The last time we mentioned it was July 2, as it traded at $202.79. It’s now up to $230, and could easily – in our opinion – run to $300 this year. All as the pandemic grows worse.
The global pandemic is only magnifying the need for telehealth. In fact, according to a Frost & Sullivan report – Telehealth: A Technology-Based Weapon in the War Against the Coronavirus, 2020, analysts say the pandemic will reshape health care delivery, creating big opportunities for virtual care going forward.
The analysts also believe telehealth will see seven-fold growth in the next five years, as highlighted by Healthcare IT News. “The critical need for social distancing among physicians and patients will drive unprecedented demand for telehealth, which involves the use of communication systems and networks to enable either a synchronous or asynchronous session between the patient and provider,” added Frost & Sullivan.
Even at $230 a share, TDOC offers a good deal of upside opportunity, we believe.