With the ongoing – and now accelerating – coronavirus pandemic telehealth – AKA telemedicine – has gotten huge.

Using technology to improve your experiences with doctors was already becoming more common nationwide.

If you had a sinus infection for example, you can get on an app from anywhere. Talk with a doctor and go over your care plan. Get a prescription filled at your local pharmacy and pay.

All without leaving your house.

With the coronavirus still circling the world and people trying to avoid contact with those they don’t know; telehealth stocks are skyrocketing.

When I say stocks, I mean only 1 though… As of this writing there is only 1 publicly listed pure play telehealth stock, Teledoc Health (TDOC).

To say TDOC stock has done well this year is a gigantic understatement as you can see in the chart below.

From January 2^nd to the close of the market on June 26 ^th, Teledoc stock is up 132.1%.

This makes sense of course.

People still need medical care.

But many don’t want to leave the house due to the coronavirus.

So why not just use your phone to meet and get a prescription or care if you can do so this way?

And with TDOC being the only pure play telehealth stock you can buy it makes sense its shares skyrocketed.

But I don’t recommend buying TDOC stock today.

Its unprofitable and its selling at a P/CF (price to cash flow) ratio of 445 as of this writing.

I want to own companies that are profitable and at least fairly valued. I look to research stocks further that have a P/CF of 25 or lower… If I can buy at cheap prices even better.

The unprofitability and massive overvaluation make TDOC stock incredibly risky and unbuyable today.

How are you supposed to buy something in this arena if it’s the only pure play telehealth stock, but I don’t recommend you buy it?

Because the term pure play means that’s the only thing they do. In this case, telehealth is the only thing TDOC does.

There are other public stocks you can buy that operate in other arenas – but still operate in telehealth too.

Today I want to show you the single best telehealth stock to own… And its probably not one you’d think of.

The Single Best Telehealth Stock – CVS Health Corp (CVS)

Wait… Isn’t CVS a pharmacy and mini grocery store?

Yes, it is… But it’s also offers telehealth services.

Since the coronavirus pandemic hit the US in Mid-March telehealth visits to CVS locations increased 600%.

CVS offers these through its MinuteClinic locations in CVS pharmacies and Targets nationwide.

But telehealth isn’t just meeting with a doctor or pharmacist via a phone or video call…

Its also prescription deliveries too.

Since Mid-March CVS says prescription delivery is up more than 1,000%.

Telehealth and prescription deliveries helped CVS same store sales grow 8% in the 1^st quarter of 2020 to $67 billion.

These also increased its net income 41% to $2 billion in the 1^st quarter of 2020 compared to $1.4 billion in the 1^st quarter of 2019.

Why the huge 41% jump in net income compared to the 8% jump in sales?

Because these telehealth options mean lower expenses for CVS… Lower expenses with higher revenues lead to increased margins and huge jumps in profits and cash flows.

CVS is a stalwart company with solid growth over the last decade… This growth will continue going forward with its huge success in the telehealth arena as well.

The company is profitable and produces a ton of free cash flow… $11.7 billion in free cash flow production in the last 12 months alone. And it pays a solid 3.2% dividend.

Plus, its undervalued too.

As of this writing its selling at a P/CF of only 9.4 compared to Teledoc’s huge 445 P/CF ratio.

CVS is a healthy, safe, and undervalued investment that is far less risky than TDOC… While also having the ability to benefit from the new trend in telehealth.

This trend of using technology more in medicine was already coming… But now its accelerating due to the ongoing coronavirus pandemic.

If you’re looking to buy a telehealth stock… You may as well buy the best. And CVS right now looks like the best one to me.

Click here to learn the 4 Reasons The Markets In For A Crazy Week .

Disclosure - Jason Rivera is a 13+ year veteran value investor who now spends much of his time helping other investors earn higher than average investment returns safely. He does not have any holdings in any securities mentioned above and the article expresses his own opinions. He has no business relationship with any company mentioned above.