LifeMD (NASDAQ:LFMD) Upgraded to Hold at Zacks Research

LifeMD (NASDAQ:LFMD) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

Other analysts have also recently issued reports about the company. HC Wainwright cut their price target on LifeMD from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Friday, August 7th. B. Riley Financial lowered their price objective on LifeMD from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. UBS Group reiterated a “buy” rating on shares of LifeMD in a report on Wednesday, May 27th. Weiss Ratings reissued a “sell (d)” rating on shares of LifeMD in a research report on Tuesday, August 4th. Finally, Lake Street Capital set a $5.00 target price on LifeMD in a research note on Thursday, August 6th. Eight equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $7.57.

LifeMD Stock Down 1.5%

Shares of LifeMD stock opened at $3.27 on Monday. LifeMD has a 52-week low of $2.56 and a 52-week high of $7.32. The company has a 50 day moving average of $4.19 and a 200 day moving average of $3.96. The company has a market capitalization of $157.61 million, a P/E ratio of -65.39 and a beta of 2.02.

LifeMD (NASDAQ:LFMD) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.01). The firm had revenue of $47.28 million for the quarter, compared to analysts’ expectations of $49.16 million. LifeMD had a negative return on equity of 168.23% and a net margin of 0.10%. As a group, research analysts anticipate that LifeMD will post -0.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On LifeMD

Several large investors have recently bought and sold shares of LFMD. BlackRock Inc. increased its position in shares of LifeMD by 8.0% during the second quarter. BlackRock Inc. now owns 3,034,535 shares of the company’s stock worth $12,533,000 after purchasing an additional 225,510 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of LifeMD by 6.7% in the 3rd quarter. Vanguard Group Inc. now owns 2,226,871 shares of the company’s stock valued at $15,120,000 after purchasing an additional 140,749 shares during the last quarter. Federated Hermes Inc. boosted its position in shares of LifeMD by 278.1% in the 4th quarter. Federated Hermes Inc. now owns 980,285 shares of the company’s stock valued at $3,343,000 after purchasing an additional 721,018 shares during the period. Geode Capital Management LLC grew its stake in LifeMD by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 959,700 shares of the company’s stock worth $3,273,000 after buying an additional 11,324 shares during the last quarter. Finally, Royce & Associates LP increased its position in LifeMD by 11.7% during the fourth quarter. Royce & Associates LP now owns 909,651 shares of the company’s stock worth $3,102,000 after buying an additional 95,200 shares during the period. 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.