In a shocking announcement, Teladoc Health (NYSE:TDOC) stated the abrupt departure of its CEO, Jason Gorevic, effective immediately. The virtual healthcare company’s Board of Directors has appointed CFO Mala Murthy as the acting CEO while it searches for Gorevic’s permanent successor.
Murthy has served as Teladoc’s CFO since 2019 and will continue to be the CFO, too, during this transition period.
In addition, the company reaffirmed its outlook for Q1 and FY24. In Q1, TDOC expects a net loss to range from $0.55 to $0.45 per share on revenues between $630 million and $645 million. In FY24, the company has projected a net loss in the range of $1.10 to $0.80 per share on revenues between $2.64 billion and $2.74 billion.
Is Teladoc a Buy or Hold?
Analysts remain cautiously optimistic about TDOC stock, with a Moderate Buy consensus rating based on six Buys and 14 Holds. Year-to-date, TDOC stock has declined by more than 30%, and the average TDOC price target of $20.72 implies an upside potential of 44.5% at current levels.
