The strong momentum in Livongo Health Inc’s (NASDAQ:LVGO) business continued in the second quarter, and the company’s merger with Teladoc Health Inc (NYSE:TDOC) will create a leading virtual health care platform, according to Needham.
The Livongo Health Analyst: Scott Berg downgraded Livongo Health from Buy to Hold and eliminated the price target.
The Livongo Health Thesis: Livongo's revenue and member additions were meaningfully higher than its second-quarter pre-announcement on July 8, Berg said in the Thursday downgrade note. (See his track record here.)
The company reported quarterly revenue of $91.9 million, representing 124.8% year-on-year growth and significantly higher than Needham’s estimate of $86.5 million. Earnings of 11 cents per share also handsomely beat Needham's 4 cents per share estimate, the analyst said.
Livongo announced plans to merge with Teladoc to “create the leading consumer centered virtual care platform focused on solutions for whole-person care to improve health outcomes with lower costs,” Berg said.
The deal, at a total of $18.5 billion, offers a premium for Livongo’s shares and represents a valuation of nearly 35x of fiscal 2021 revenue, the analyst said.
Although the concerns around achieving the proposed sales synergies exerted pressure on Teladoc’s stock, the analyst Berg said management has a “reasonable” plan.
LVGO Price Action: Shares of Livongo Health were trading 3.7% higher at $132.80 at last check Thursday.
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Needham表示,Livongo Health Inc(納斯達克股票代碼:LVGO)業務的強勁勢頭在第二季度持續,該公司與Teladoc Health Inc(紐約證券交易所代碼:TDOC)的合併將創建一個領先的虛擬醫療保健平台。
Livongo Health分析師:Scott Berg將Livongo Health的評級從買入下調至持有,並取消了目標價。
關於Livongo Health的論點:Berg在週四的降級報告中表示,Livongo的收入和會員人數明顯高於7月8日發佈的第二季度預告。(點擊此處查看他的履歷。)
該公司公佈季度營收為9,190萬美元,同比增長124.8,明顯高於李約瑟預估的8,650萬美元。這位分析師説,每股11美分的收益也大大超過了李約瑟每股4美分的預期。
伯格説,Livongo宣佈了與Teladoc合併的計劃,以“創建領先的以消費者為中心的虛擬護理平台,專注於全人護理解決方案,以更低的成本改善健康結果。”
這位分析師表示,這筆交易總額為185億美元,為Livongo的股票提供了溢價,估值相當於2021財年營收的近35倍。
儘管圍繞實現擬議的銷售協同效應的擔憂給Teladoc的股票帶來了壓力,但分析師伯格表示,管理層有一個“合理”的計劃。
LVGO價格行動:Livongo Health的股價在週四的最新檢查中上漲3.7%,至132.80美元。
相關鏈接:
從昨天開始的90個最大的轉會
Teladoc,Livongo Health合併價值185億美元