132.12 +4.06 (3.17%)
After hours: 7:59PM EDT
|Bid||129.80 x 1300|
|Ask||132.30 x 1100|
|Day's range||124.13 - 149.85|
|52-week range||15.12 - 149.85|
|Beta (5Y monthly)||N/A|
|PE ratio (TTM)||N/A|
|Earnings date||04 Nov 2020 - 09 Nov 2020|
|Forward dividend & yield||N/A (N/A)|
|1y target est||102.36|
In a sign of the growing importance and value of digital healthcare in the world of medicine, two of the industry's publicly traded companies have agreed to a whopping $18.5 billion merger. The union of Teladoc Health, a provider of virtual care services, and Livongo, which has made a name for itself by integrating hardware and software to monitor and manage chronic conditions like diabetes, will create a giant in the emerging field of telemedicine and virtual care. "This transaction recognizes Livongo’s significant progress and will enable Livongo shareholders to benefit from long-term upside as the combined company is positioned to serve an even larger addressable market with a truly unmatched offering."
Shares of Teladoc Health (NYSE: TDOC) and Livongo Health (NASDAQ: LVGO) fell sharply on Wednesday, after the two tech-focused healthcare companies announced their plans for a merger. Under the terms of the deal, Livongo's shareholders will receive 0.592 shares of Teladoc plus $11.33 in cash for each Livongo share they own. As of Aug. 4, the deal valued Livongo at $18.5 billion.
Markets got a further lift on Wednesday morning, especially with Walt Disney (NYSE: DIS) giving investors a positive surprise. One company whose earnings report seemed to go unnoticed was Livongo Health (NASDAQ: LVGO). The diabetes glucose monitoring specialist announced another set of blockbuster results, but the news got overshadowed by an announcement that the high-growth healthcare stock had agreed to an acquisition by Teladoc Health (NYSE: TDOC).