Truist Securities Reiterates Hold Rating on Teladoc (TDOC)

Truist Securities analyst Jaliendra Singh reiterated a Hold rating and $10.00 price target on Teladoc (NYSE: TDOC)

The analyst comments "This morning, TDOC announced a pharmacy integration agreement with Gifthealth (private), a pharmacy partner for Eli Lilly's LillyDirect (LLY, Buy, Devarakonda). The partnership is expected to streamline access to Zepbound (tirzepatide) for TDOC members enrolled in its Comprehensive Weight Care Program. Through this partnership, TDOC's clinicians can submit prescriptions to be filled at LillyDirect. Today's partnership is part of a broader integrated care and support program, is aimed at enhancing the marketability and enrollment of the Weight Care Program and seeks to help plan sponsors offer self-pay access to branded GLP-1 medications. The program is designed for those with insurance that may not have coverage for GLP-1 medications for obesity. For reference, our Employer Benefit Survey (published Oct 2024) found that GLP-1 coverage for weight loss stood at 28% in 2024 (vs. 27% in 2023). At that time, our survey also found that 23% of employers expected to cover at least a portion of GLP-1 costs for weight loss in 2025 with 19% remaining undecided."

For an analyst ratings summary and ratings history on Teladoc click here. For more ratings news on Teladoc click here.

Shares of Teladoc closed at $9.03 yesterday.

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