LifeMD (NASDAQ:LFMD) Downgraded to Hold Rating by Wall Street Zen

Wall Street Zen downgraded shares of LifeMD (NASDAQ:LFMD) from a buy rating to a hold rating in a report released on Saturday.

Other equities analysts also recently issued reports about the company. BTIG Research raised their price objective on LifeMD from $15.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, June 18th. HC Wainwright restated a “buy” rating and set a $14.00 price objective on shares of LifeMD in a research report on Wednesday, April 30th. Lake Street Capital raised their price objective on LifeMD from $12.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, July 10th. Finally, KeyCorp lifted their target price on LifeMD from $12.00 to $14.00 and gave the stock an “overweight” rating in a report on Monday, July 14th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $13.86.

LifeMD Price Performance

Shares of LFMD opened at $9.94 on Friday. LifeMD has a 1 year low of $3.99 and a 1 year high of $15.84. The company has a market capitalization of $451.77 million, a price-to-earnings ratio of -29.23 and a beta of 1.72. The business has a 50-day moving average of $12.14 and a 200-day moving average of $8.36.

LifeMD (NASDAQ:LFMD) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.05. The company had revenue of $65.70 million for the quarter, compared to the consensus estimate of $62.47 million. As a group, sell-side analysts anticipate that LifeMD will post -0.56 EPS for the current year.

Insiders Place Their Bets

In other LifeMD news, insider Eric Harold Yecies sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $12.25, for a total value of $183,750.00. Following the completion of the sale, the insider owned 16,100 shares of the company’s stock, valued at approximately $197,225. This trade represents a 48.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Stefan Galluppi sold 85,000 shares of the firm’s stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $12.38, for a total value of $1,052,300.00. Following the completion of the sale, the insider directly owned 80,449 shares of the company’s stock, valued at $995,958.62. This trade represents a 51.38% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 275,000 shares of company stock valued at $3,564,550. Company insiders own 18.40% of the company’s stock.

Institutional Investors Weigh In On LifeMD

A number of hedge funds have recently added to or reduced their stakes in the company. CWM LLC grew its stake in LifeMD by 17.5% in the first quarter. CWM LLC now owns 9,050 shares of the company’s stock valued at $49,000 after acquiring an additional 1,351 shares during the period. Nisa Investment Advisors LLC grew its stake in LifeMD by 148.5% in the second quarter. Nisa Investment Advisors LLC now owns 3,656 shares of the company’s stock valued at $50,000 after acquiring an additional 2,185 shares during the period. Prudential Financial Inc. grew its stake in LifeMD by 19.3% in the fourth quarter. Prudential Financial Inc. now owns 13,605 shares of the company’s stock valued at $67,000 after acquiring an additional 2,200 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in LifeMD by 4.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,647 shares of the company’s stock valued at $270,000 after acquiring an additional 2,235 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in LifeMD by 26.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,012 shares of the company’s stock valued at $70,000 after acquiring an additional 2,895 shares during the period. Institutional investors and hedge funds own 35.52% of the company’s stock.

LifeMD Company Profile

LifeMD, Inc operates as a direct-to-patient telehealth company that connects consumers to healthcare professionals for medical care in the United States. The company offers telehealth platform comprising RexMD, a men's telehealth brand that provides access to virtual medical treatment for a variety of men's health needs from licensed physician; ShapiroMD that provides virtual medical treatment, prescription medications, patented doctor formulated OTC products, topical compounded medications, and medical devices treating male and female hair loss; NavaMD, a female-oriented tele-dermatology that offers virtual medical treatment from dermatologists and other providers; and prescription oral and compounded topical medications to treat aging and acne; and Cleared which provides personalized treatments for allergy, asthma and immunology, including in-home tests for both environmental and food allergies, prescriptions for allergies and asthma and immunotherapies for treating chronic allergies.