COVID has been a huge setback and nuisance. But it has also produced many opportunities. Its unique barriers have driven up telemedicine stocks and telehealth. And telemedicine stocks are still great investments. Even after COVID fades away.

Telemedicine was around years before COVID hit. But COVID sped up appreciation of those companies and their stock. Below, I’m going to share some of the best telemedicine stocks. Then, I’ll go into each one a little bit and share why they could be a good investment.

telemedicine stocks online review with doctor

Telemedicine Stocks to Buy Now

  1. Teladoc Health (NYSE: TDOC)
  2. iRhythm Technologies (Nasdaq: IRTC)
  3. 111 Inc (YiYaoDian) (Nasdaq: YI)
  4. Skylight Health (Nasdaq: SLHG)
  5. American Well Corp (AmWell) (NYSE: AMWL)
  6. Cerner (Nasdaq: CERN)
  7. Nuance Communications (Nasdaq: NUAN)
  8. Well Health Technologies (OTC: WLYYF)
  9. Hims & Hers Health Inc (NYSE: HIMS)
  10. Medtronic (NYSE: MDT)
  11. Doximity (NYSE: DOCS)

Best Telemedicine Stocks

Teladoc Health

When you think of telehealth or telemedicine, this is the company you might think of. That’s true for a lot of people. It’s quite popular in the telehealth space.

It’s a multinational company. It uses AI, analytics and telehealth devices. It’s the only “whole-person..”. “integrated personal care system.” Teladoc has the largest market cap in this sector.

And since it’s at the top of the telehealth market, buying Teladoc might give you a safer investment into telemedicine. Teladoc’s stock soared with the uproar of the pandemic. Now it’s fallen, and might be an opportune time to buy in.

iRhythm Technologies

iRhythm is not a telemedicine company by the standard definition. Technically, it’s still in the telemedicine industry, though.

iRhythm came up with a much better solution for heart monitors and heart monitoring. It sends the patient a heart monitor, which they wear for a period of time. Then, they send the monitor back in the mail. iRhythm then analyzes the data and sends a report back to the patient.

June 2021’s quarterly financials show that iRhythm’s year over year net revenue is up 60%.

111 (YiYaoDian)

Yi is a leading Chinese pharmaceutical company. It’s been growing for eight consecutive quarters since its 2018 IPO. Prescription medicine is a large industry in China.

Yi has been selling more generic medications. But it plans on bringing branded medications to market in the future. This could produce significant growth on top of its large growth already.

Skylight Health

Skylight’s mission is to “return healthcare to the way it should be – highly accessible and highly affordable.”

Like many other telemedicine stocks, it saw large growth in 2020, and early 2021. Since then, the stock has corrected, and could present a great buying opportunity.

Leadership at Skylight is at the top of their game. Every person in a leadership role or on the Board of Directors has a history of success in their field.

American Well Corp (AmWell)

AmWell has been around for 15 years (2006). It saw the opportunity telemedicine had to offer the world.

Now, things are catching on. It recently listed stock in the company around September of 2020. There was some growth, but the stock has been a bear overall. I’m sure this is from COVID winding down.

But now could be the best time to buy. Analysts predict telemedicine isn’t going anywhere. The industry is predicted to only rise in the coming years.

Cerner

Cerner’s leadership looks good at first glance. They’ve been applying health and information technology for over 40 years. This is a good sign for the monetary health of the company. Usually, the older the company, the more stable it can become. This makes it a little safer investment.

Cerner stock had a big rally with COVID. Then it corrected and over the long-term, the stock has continued to rise.

Cerner may be the safest telemedicine stocks on this list.

Nuance Communications

Nuance’s stock looks like Cerner’s. A big difference, though, is that Nuance has some declining years. But Cerner continues to rise year after year.

Even so, Nuance makes big leaps in price. In fact, Nuance technology powers Cerner.

It also powers many other medical and communication institutions. It works in many other industries, too. But it markets its healthcare involvement the most.

Well Health Technologies

Well’s mission is to positively impact and support doctors and patients via its platform. It’s in Canada and focuses on serving Canadian markets. This is its edge as it’s the largest chain network of care clinics in British Columbia.

This company started as a penny stock and is still under $10. Over its life on the public markets, it has gone up 1,715%. It’s going through a small correction right now. But it has not seen the downward correction that many other telemedicine stocks have seen over the past few months.

Hims & Hers

Hims & Hers is a health company that specializes in serving seniors. It sells drugs, and personal care products. But it’s best known for selling treatments for erectile dysfunction and hair loss.

This branding and specialization make it stand out in the telemedicine industry.

Through COVID, its stock saw a small increase. The more recent series of peaks have dwarfed that, though. It’s in a correction and will probably be making a comeback soon.

Medtronic

As one of the best telemedicine stocks, Medtronic is an Irish American company. It devotes itself to high quality, low-cost health care. Its stock has had quite a bit of growth in the past 12 years since 2009. Even in the more recent term, it’s been on a bull run. That goes for before, during and after COVID.

It’s a registered medical device company. So, it also works in other areas besides telemedicine.

Doximity

Doximity has the second largest market cap under Teladoc. Right now, it sits at about $18 billion. It’s only been registered in the public stock markets a few months ago, but it’s only been uphill growth.

Its leadership and directors are great. Some come from Stanford, Medscape and other highly prestigious institutions. Investors include T. Rowe Price, Morgan Stanley and Emergence Capital Partners.

For a list of other companies that have recently gone public, check out these recent IPOs and our IPO calendar. We update the calendar weekly with investing opportunities.

Telemedicine Stocks and New Investment Opportunities

According to Business Wire, the telehealth industry will grow from $26.4 billion to $70.19 billion in a matter of six years (2020-2026). The bull has already begun running, but now is a great time to get in on the action because of the lull in stock prices.

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