Teladoc (TDOC -1.52%) was one of the hottest of the work-from-home stocks in the early days of the pandemic. But now, with more people back in the office and going to the doctor in-person again, some investors might be wondering whether Teladoc is still a good long-term investment or not.
In this segment of Backstage Pass, recorded on Sept. 20, Fool contributors Rachel Warren and Brian Withers share what they love about this high-growth healthcare stock and why they think it has plenty of runway left.
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Rachel Warren: It's another one of those companies that already had a really strong history of growth before the pandemic. In 2019, it grew its revenue 32%, 98% jump in 2020, of course, with so many people at home. But then even just the first two quarters of this year, it grew its revenue by triple-digit percentages.
It's continuing to build upon this really strong track record of growth, and even now with more people, it will be much easier to go to the doctor and you get those appointments that might have been put off before. It's continuing to see these massive growth numbers.
I like the business. I think it takes time and patience to experience meaningful returns. I think this is one of those companies that it's probably not going to replicate those same jumps that we saw in 2020 where shares just skyrocketed. But if you look back over the last five years and not just the period over a few months, I think the stock can definitely replicate that, and then some over the next five to 10 years.
Brian Withers: Yeah, I can't imagine. You know, similar to when people first discover the convenience of e-commerce, we've all probably had to experience virtual telehealth visits just because of so many physicians offices and specialty offices have closed.
To me, it's so [laughs] much easier just to instead of driving to the office and waiting and doing all that stuff and taking two hours for a 30 minute visit with the doctor, you can take 35 minutes and do it from your home. Absolutely, I think that the market has thrown this out as a coronavirus stock, but I'm with you. I think this one has got a long way to run.
