Humana virtual primary care launch a positive for Teladoc, says Baird

The announced launch of Humana’s (HUM) virtual primary care plan represents a positive read for Teladoc Health (TDOC), Baird analyst Matthew Gillmor tells investors in a research note. While Humana is partnering with its current telehealth vendor Dr. On Demand to support the offering, the announcement underscores the emerging shift to “virtual first” benefit designs, says the analyst. He points out that Teladoc started discussing this concept during 2018 and launched a virtual first plan with an employer client starting January 1. Gillmor keeps an Outperform rating on Teladoc with an $80 price target.

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