We recently compiled a list of 10 trending AI health stocks. In this article, we’ll take a look at how Teladoc Health, Inc. (NYSE:TDOC) stands compared to other hot AI health stocks.
The economic impact of AI is expected to be particularly large in regions such as China and North America, where GDP is expected to increase by 26% and 14.5%, respectively, to reach $10.7 trillion by 2030. Masu. This surge is also reflected in the healthcare sector, where AI is driving innovative growth. According to SNS Insider, the artificial intelligence market in healthcare was valued at USD 22.5 billion in 2023 and is projected to reach USD 370.14 billion by 2032, growing by a staggering 36.5% from 2024 to 2032. Expanding at a CAGR of This explosive growth is fueled by the increasing role of AI in revolutionizing healthcare through innovations in diagnosis, treatment, and operational efficiency.
The World Economic Forum also points out that the potential for AI in healthcare is particularly promising given the global shortage of medical professionals predicted to reach 10 million by 2030. AI can automate daily tasks, reduce the administrative workload of doctors, and reduce the burden on medical professionals. This allows for faster and more accurate diagnosis. This has sparked strong investments from both the public and private sectors around the world, making AI a key technology in the future of healthcare finance.
To learn more about these trends, visit 33 Most Important AI Companies to Watch and 20 Industrial Stocks Already Riding the AI Wave.
Integrating AI into healthcare not only increases efficiency, but also improves patient outcomes through more accurate diagnosis and personalized treatment. Companies responded by investing heavily in AI research and development, and mergers and acquisitions accelerated the pace of innovation. As the adoption of AI in the healthcare sector increases, experts are highlighting the potential for even greater transformation. AI research pioneer Andrew Ng said, “AI will fundamentally change the healthcare environment, improving diagnostic accuracy and optimizing patient care while reducing costs.”
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our methodology
In this article, we have selected trending health stocks where AI products are driving significant revenue growth. These stocks are also popular among hedge funds.
Why are we interested in stocks that hedge funds invest in? The reason is simple. Our research shows that by mimicking the top stock picks of the best hedge funds, you can outperform the market. Our quarterly newsletter strategy selects 14 small- and large-cap stocks each quarter and has returned 275% since May 2014, outperforming the benchmark by 150 points (Learn more here Please take a look).
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Teladoc Health, Inc. (NYSE:TDOC)
Number of hedge fund holders: 35 people
Teladoc Health, Inc. (NYSE:TDOC) provides virtual health care services in the United States and internationally. The company is a pioneer in telemedicine and virtual healthcare, deploying AI to enhance patient care and improve clinical decision-making. AI plays a key role in Teladoc’s virtual care platform, particularly in areas such as remote patient monitoring and chronic disease management. AI-powered tools like Teladoc’s virtual assistant help streamline patient intake and triage, ensuring patients are quickly and efficiently directed to the right treatment pathway.
The company’s revenue growth over the past few quarters has been primarily driven by its AI-enhanced telemedicine services, which have seen increased demand during and after the pandemic. The company’s Livongo platform, which uses AI to provide personalized health insights to chronically ill patients, contributed significantly to revenue growth, particularly in the management of diabetes and hypertension. Teladoc’s AI-driven capabilities have enabled the company to expand its services beyond traditional telehealth and offer more comprehensive virtual care solutions.
Overall, TDOC ranks #10 on our list of trending AI health stocks to buy. While we acknowledge TDOC’s potential as an investment, we believe some AI stocks are more likely to deliver higher returns over shorter time periods. If you’re looking for AI stocks that are more promising than TDOC but trade at less than 5x earnings, check out our report on the cheapest AI stocks.
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Disclosure: None. This article was originally published on Insider Monkey.
