LifeMD (NASDAQ:LFMD) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of LifeMD (NASDAQ:LFMD) from a sell rating to a hold rating in a research note published on Saturday.

Several other equities research analysts have also commented on LFMD. Weiss Ratings reiterated a “sell (e+)” rating on shares of LifeMD in a research note on Monday, December 29th. KeyCorp lowered their price target on LifeMD from $12.00 to $8.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 19th. Lake Street Capital reduced their price objective on LifeMD from $14.00 to $8.00 and set a “buy” rating for the company in a research note on Tuesday, November 18th. Loop Capital set a $10.00 price objective on LifeMD in a report on Thursday. Finally, BTIG Research reaffirmed a “buy” rating and set a $10.00 target price on shares of LifeMD in a research note on Tuesday, March 10th. Six investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $8.86.

LifeMD Stock Up 1.3%

LFMD opened at $3.98 on Friday. The firm’s fifty day simple moving average is $3.33 and its two-hundred day simple moving average is $4.53. LifeMD has a 52-week low of $2.56 and a 52-week high of $15.84. The company has a market cap of $190.92 million, a price-to-earnings ratio of 15.31 and a beta of 1.92.

LifeMD (NASDAQ:LFMD) last released its earnings results on Monday, March 9th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.03). LifeMD had a negative return on equity of 83.93% and a net margin of 6.58%.The company had revenue of $46.87 million for the quarter, compared to analysts’ expectations of $48.57 million. On average, research analysts forecast that LifeMD will post -0.56 EPS for the current year.

Institutional Investors Weigh In On LifeMD

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Aristides Capital LLC purchased a new position in LifeMD during the fourth quarter worth approximately $203,000. Virtu Financial LLC acquired a new stake in shares of LifeMD in the 4th quarter worth $155,000. Invesco Ltd. raised its holdings in shares of LifeMD by 18.8% during the 4th quarter. Invesco Ltd. now owns 24,464 shares of the company’s stock worth $83,000 after acquiring an additional 3,870 shares during the period. XTX Topco Ltd raised its holdings in shares of LifeMD by 9.0% during the 4th quarter. XTX Topco Ltd now owns 82,360 shares of the company’s stock worth $281,000 after acquiring an additional 6,814 shares during the period. Finally, Millennium Management LLC boosted its position in shares of LifeMD by 220.8% during the 4th quarter. Millennium Management LLC now owns 216,836 shares of the company’s stock valued at $739,000 after acquiring an additional 149,234 shares during the last quarter. Institutional investors and hedge funds own 35.52% of the company’s stock.

About LifeMD

LifeMD (NASDAQ: LFMD) is a U.S.-based telehealth company that delivers on-demand, membership-based virtual healthcare services. Through its digital platform and mobile applications, LifeMD connects patients with board-certified healthcare providers for diagnosis, treatment and ongoing management of a range of acute and chronic conditions. The company’s core offering centers on personalized care plans supported by prescription fulfillment, lab testing and prescription delivery services.

LifeMD’s service portfolio spans several specialty areas, including men’s health, hormonal therapy, weight management and primary care.