Cowen analyst Charles Ryhee believes the organic growth concerns and NCQA reaccreditation for Teladoc are overblown. The analyst sees a favorable macro environment for telehealth and a potential upside to Q2 from higher than expected visit growth. He also sees future growth benefiting from increasing access to telehealth in Medicare and Medicaid, and improving reimbursement parity. Ryhee reiterated his Outperform rating and $82 price target on Teladoc shares.

Reports Q1 revenue $646.13M, consensus $637.29M. "We are pleased to report a solid start to the year, with strength in both revenue and adjusted EBITDA in the first quarter," said Mala Murthy, acting chief executive officer and chief financial officer of Teladoc Health. "During this period of transition, our team remains laser focused on our key initiatives, which include building upon our market leadership position; driving increased product penetration through our large installed base of over 90 million virtual care members; and accelerating our bottom-line performance."