Why Teladoc Health (TDOC) Soared Last Week?

We recently published a list of 10 Firms That Soared Last Week. In this article, we are going to take a look at where Teladoc Health, Inc. (NYSE:TDOC) stands against other firms that soared last week.

Last week saw volatile trading in the stock market as investors scrambled to react from a series of positive and negative catalysts which sparked buying and selling positions across the board.

On Friday alone, Wall Street’s major indices fell into the red territory over renewed fears of growing trade tensions from some of the world’s largest economies, coupled with expectations of a higher inflation rate.

However, 10 firms defied a broader market slump, posting impressive gains in just a week’s trading.

To come up with last week’s biggest advancers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

A doctor wearing a face mask and lab coat providing remote medical advice via video chat.

Teladoc Health, Inc. (NYSE:TDOC)

Shares of Teladoc Health, Inc. (NYSE:TDOC) jumped 27.46 percent week-on-week to end at $12.95 apiece on Friday as investor sentiment was boosted by an analyst’s bullish outlook for the company following its acquisition of Catapult Health.

In a recent report, Citron Research underscored TDOC’s potential following its buyout of Catapult Health for $65 million and its effective use of technology to enhance profitability and expand margins.

Teladoc Health (NYSE:TDOC) acquired Catapult Health last week, in line with its efforts to improve early detection of health conditions, expand into at-home diagnostic testing, and deliver better health outcomes in care management that would complement its industry-leading suite of integrated solutions.

Subject to customary closing conditions, the transaction is expected to be completed in the first quarter of 2025.

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Disclosure: None. This article is originally published at Insider Monkey.