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

LifeMD (NASDAQ:LFMD) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

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

LifeMD Stock Performance

Shares of LFMD opened at $9.94 on Friday. The firm has a market cap of $451.77 million, a PE ratio of -29.23 and a beta of 1.72. The firm’s 50 day moving average price is $12.14 and its 200 day moving average price is $8.34. LifeMD has a twelve month low of $3.99 and a twelve month high of $15.84.

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

Insider Activity at LifeMD

In other news, CFO Marc David Benathen sold 50,000 shares of the firm’s stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $14.01, for a total value of $700,500.00. Following the sale, the chief financial officer owned 339,554 shares in the company, valued at approximately $4,757,151.54. This trade represents a 12.84% 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 Eric Harold Yecies sold 15,000 shares of the firm’s stock in a transaction on Friday, June 13th. The stock was sold at an average price of $12.25, for a total transaction of $183,750.00. Following the completion of the sale, the insider owned 16,100 shares in the company, valued at approximately $197,225. The trade was a 48.23% 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 worth $3,564,550. Insiders own 18.40% of the company’s stock.

Institutional Investors Weigh In On LifeMD

Hedge funds and other institutional investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC lifted its position in LifeMD by 148.5% in the second quarter. Nisa Investment Advisors LLC now owns 3,656 shares of the company’s stock worth $50,000 after purchasing an additional 2,185 shares during the period. Caitong International Asset Management Co. Ltd lifted its position in LifeMD by 1,004.9% in the second quarter. Caitong International Asset Management Co. Ltd now owns 5,171 shares of the company’s stock worth $70,000 after purchasing an additional 4,703 shares during the period. GAMMA Investing LLC bought a new position in LifeMD in the first quarter worth $35,000. CWM LLC lifted its position in LifeMD by 17.5% in the first quarter. CWM LLC now owns 9,050 shares of the company’s stock worth $49,000 after purchasing an additional 1,351 shares during the period. Finally, Baader Bank Aktiengesellschaft bought a new position in LifeMD in the second quarter worth $136,000. Institutional investors and hedge funds own 35.52% of the company’s stock.

About LifeMD

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.