Telehealth companies help people see medical professionals remotely through either the phone or video calls. And since the demand for healthcare with elements of social distancing increased during the pandemic, telemedicine services also saw an increase in demand. In the United States, when Congress passed an emergency fund of $8.3 billion, it also loosened certain rules on the use of telehealth services in the U.S. Medicare program. A lot of companies have branched into telehealth but only trade over the counter or are privately owned, except for Teladoc Health which trades on the New York Stock Exchange and has outperformed the broader market and has a market value of $12.2 billion.

Teladoc Health Inc (NYSE: TDOC)

Teladoc Health Inc (TDOC)‎ is one of the best telehealth stocks on Wall Street and benefited from the entire Covid pandemic ordeal since virtual healthcare became a big thing. The company gives virtual healthcare services to a wide range of stakeholders and its revenue more than doubled since then. Teladoc Health managed to close the third quarter last year with the $18.5 billion acquisition of its rival Livongo in October.

In 2020, TDOC’s stocks began to look pricey because they had more than doubled up. It is a compelling growth story within the healthcare sector and is bound to bring in new investors over the years. It is already dubbed as a Strong Buy by 13 of the 27 analysts tracking for the S&P Global Market Intelligence.

American Well Corp (NYSE: AMWL)

American Well Corp (AMWL)‎ is a top-notch telemedicine company based in the United States and is rated 885 out of 1,000 which is higher than the 856 average in the industry. Amwell is part of 55 health plans at the moment and it used by nearly 36,000 employers. But the situation created by the pandemic proved to be extremely profitable for the company as seen in the visits to its platform since 2006 having been 5.6 million out of which 2.9 million of those visits happened till the middle of 2020.

Its revenue increased by 77 per cent in the first half of 2020 by $122.3 million and its monthly visit volumes also saw a more than fourfold increase. In August, it also succeeded in securing a $100 million investment from Google, and much of that will go towards research and development and also in innovating the platform. AMWL is currently capitalized with $831.6 million in cash and investments and since September its stock is up by 70 per cent.

M3

M3 has been a global leader in telehealth in Japan and overseas. It is backed by Sony and initially began as a traditional operator of medical websites but it then used its acquisitions to become a provider of online medical information and telehealth. Much of M3’s revenue comes from the information it makes available to its academics, patients, and doctors. But that still makes it very profitable with a market capitalization of more than $60 billion. Its stock has been tripling over the past year as its capabilities have made it a strong stock and even the best emerging telehealth stock in the market.

During the pandemic it gained 72 per cent for the year to date and it is predicted that with its outsized growth rate if it had been in the S&P 500, it would have been the top fifth index of the most expensive stocks.