Soc Telemed Inc logo

TLMD - Soc Telemed Inc News Story

$2.12 0.0  0.0%

Last Trade - 07/12/21

Sector
Healthcare
Size
Small Cap
Market Cap £152.8m
Enterprise Value £180.1m
Revenue £93.8m
Position in Universe 4820th / 7335

BUZZ-Soc Telemed hits record low on lowering FY21 rev outlook

Fri 13th August, 2021 7:58pm
** Telemedicine technology provider's shares  TLMD.O  plunge
31.8% to $2.83, hitting a record low and bottoming Nasdaq
Composite index  .IXIC 
    ** Co posts bigger-than-expected Q2 adj loss of 19
cents​​/shr; revenue of $24.96 mln also misses Refinitiv est of
$25.18 mln
    ** TLMD also lowers outlook for FY21 rev to $90 mln-$92 mln
from earlier forecast of $97 mln-$103 mln due to disruptions
from the COVID-19 Delta variant on hospitals and a
weaker-than-normal upcoming flu season  urn:newsml:reuters.com:*:nPn739F3Za
    ** Co says Delta variant causing pressure on hospitals
leading to longer sales cycles, and implementation timelines
    ** Three out of 6 brokerages covering the stock cut their
PTs, with RBC's new PT of $6 lowest on Street - Refinitiv data
    ** Credit Suisse (PT: $8.50, "outperform") says the
long-term value proposition remains intact, although the ongoing
headwinds due to the pandemic will weigh on shares; the period
to get out of COVID-19 is likely to remain volatile
    ** Including session's losses, stock had fallen 63.7% YTD

 (Reporting by Devik Jain in Bengaluru)
 ((Devik.Jain@thomsonreuters.com; within U.S. +1 646 223 8780;
outside U.S. +91 80 6182 2062; ;))
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