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Teladoc Health Inc’s (NYSE:TDOC) acquisition of Livongo Health (NASDAQ:LVGO) was completed on Oct. 30 and has yet to generate impressive growth, according to Goldman Sachs.
The Teladoc Health Analyst: Robert Jones initiated coverage of Teladoc Health with a Neutral rating and $206 price target.
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The Teladoc Health Thesis: The company has been a beneficiary of accelerated adoption trends amid the pandemic and appears to be on track to record around 71% revenue growth organically, Jones said in the initiation note.
“Beyond this year, the story shifts to that of a combined entity where we think legacy TDOC organic growth and synergies targets appear achievable,” the analyst said. “That said, we believe the onus for meaningful upside within legacy TDOC lies on US membership growth in Health Plan lives concurrent with PMPM (per member per month) expansion, which could pose some risk.”
Outside of the legacy Teladoc company, upside would come from synergies and legacy Livongo, which has less of a track record, according to Goldman Sachs.
TDOC Price Action: Shares of Teladoc Health were rising 2.73% to $203.06 at last check Friday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.