- Piper Sandler said that an analysis of downloads of Teladoc Health's ( NYSE: TDOC ) Livongo app indicates that Q2 2022 results for the chronic care business should come in-line.
- Shares are up ~9% in Thursday afternoon trading.
- In addition, analyst Jessica Tassan noted that since the beginning of July, there has been a "modest acceleration" in downloads.
- Livongo is used with smart devices to provide health management strategies for chronic conditions. Teladoc ( TDOC ) acquired Livongo in August 2020 in an $18.5B deal .
- Tassan is overweight on Teladoc ( TDOC ) with a $42 price target (~8% upside based on Wednesday's close). Year-to-date, shares are down ~56% .
- In a recent analysis, contributor Eric Groovenhoff advises shorting Teladoc ( TDOC ) while going long on competitor Doximity ( DOCS ).
For further details see:
Teladoc Livongo app downloads bodes well for chronic care business - Piper Sandler