• Teladoc Health (TDOC) is unloved on Wall Street, and appears to be drastically undervalued.
• A famous fund manager seems to like Teladoc stock, though, and there’s a partnership with a well-known e-commerce company to consider.
• Investors should grab shares of Teladoc before the investing community bids up the price.

New York-headquartered telemedicine specialist Teladoc Health (NYSE:TDOC) helps patients get the virtual healthcare they need. After a persistent drawdown, now is a great time to scoop up relatively cheap shares of TDOC stock.

It’s not an exaggeration to say that Teladoc shares are severely undervalued. Apparently, Wall Street believes that the Covid-19-related catalysts that benefited telemedicine in 2020, simply aren’t there anymore.

Yet, contrarians are supposed to buy stocks during peak pessimism. As investors dump their Teladoc shares, you can be thankful for the low price points — and at least one famous fund manager is evidently holding her position.

What’s Happening with TDOC Stock?

The bulls had their time to shine, no doubt about it. As you may recall, TDOC stock rallied from $85 to $240 during the first half of 2020, and topped out at $308 in February of last year.

With a few bumps along the way, it’s mostly been downhill from there. Unbelievably, Teladoc shares can now be purchased at 2019 prices. It’s as if the market’s thinking that the telehealth revolution never happened – which is completely irrational, of course.

TDOC stock is one of the few large-cap, pure-play telemedicine stocks you can currently purchase on a major stock exchange.

And if any business represents the present and future of telehealth, it’s Teladoc, which recently counted 800,000 connected devices, 2 billion data points, 76 million members and 10,000 healthcare providers in the company’s network.

Not long ago, InvestorPlace contributor Tezcan Gecgil recapped Teladoc’s encouraging fourth-quarter 2021 results.

As Gecgil explained, Teladoc’s revenue grew 45% year-over-year to $554 million. Moreover, this result helped Teladoc’s “net loss to shrink to $11 million, or 7 cents per share. In the prior-year quarter, the net loss was $394 million.”

Wood’s Good, Alexa’s Even Better

So clearly, Teladoc’s on the right track, fiscally speaking. Perhaps famous fund manager Cathie Wood kept this in mind when her ARK Genomic Revolution ETF (BATS:ARKG) fund included TDOC stock in its holdings.

Or just maybe, Wood has decided to keep Teladoc in her fund because the telemedicine company is partnering with none other than e-commerce leviathan Amazon (NASDAQ:AMZN).

According to the press release, Teladoc’s virtual care will be accessible to U.S.-based customers through Amazon’s Alexa. This will involve “the launch of voice-activated general medical virtual care on supported Echo devices, such as an Echo, Echo Dot, and Echo Show.”

Potentially, this could be great news for the patients. For one thing, the virtual care will be easy to access through Alexa/Echo. Plus, the services will be available 24/7 for general medical needs.

Initially, Teladoc on Alexa will launch with just audio service. However, video-enhanced visits are apparently “coming soon.”

To get connected, the patient would only need to say, “Alexa, I want to talk to a doctor.” This surely sounds like a win-win for the patients and for Teladoc’s shareholders.

A Good Sign

The idea here isn’t to get you to buy TDOC stock just because a Wood-run fund is investing in it. At the end of the day, you have to decide for yourself whether Teladoc is worth investing in.

Still, Wood’s implicit endorsement is a positive sign. Better yet, the Amazon partnership puts Teladoc – and the telemedicine patients – in a great position in 2022.

On the date of publication, David Moadel did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.