LifeMD (NASDAQ:LFMD) Price Target Lowered to $7.00 at KeyCorp

LifeMD (NASDAQ:LFMD) had its target price lowered by KeyCorp from $10.00 to $7.00 in a research note issued to investors on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other research analysts also recently weighed in on the company. Lake Street Capital initiated coverage on LifeMD in a research note on Tuesday, December 10th. They set a “buy” rating and a $12.00 price target for the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $15.00 target price on shares of LifeMD in a research report on Friday, September 20th. HC Wainwright reissued a “buy” rating and issued a $12.00 price target on shares of LifeMD in a research report on Monday, November 11th. Finally, Mizuho started coverage on shares of LifeMD in a report on Wednesday, December 4th. They issued a “neutral” rating and a $7.00 price objective for the company. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $11.14.

LifeMD Price Performance

LifeMD stock opened at $5.10 on Wednesday. The business’s 50 day simple moving average is $5.57 and its 200 day simple moving average is $5.55. LifeMD has a 12 month low of $3.99 and a 12 month high of $12.88. The company has a market cap of $220.89 million, a price-to-earnings ratio of -7.97 and a beta of 1.49. The company has a current ratio of 0.83, a quick ratio of 0.78 and a debt-to-equity ratio of 10.83.

Insider Activity

In other LifeMD news, CEO Justin Schreiber sold 25,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $5.19, for a total value of $129,750.00. Following the transaction, the chief executive officer now directly owns 2,703,715 shares in the company, valued at $14,032,280.85. This represents a 0.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 15.97% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. State Street Corp lifted its position in LifeMD by 20.0% during the third quarter. State Street Corp now owns 1,155,495 shares of the company’s stock valued at $6,055,000 after purchasing an additional 192,861 shares during the last quarter. Royce & Associates LP raised its position in shares of LifeMD by 14.6% during the 3rd quarter. Royce & Associates LP now owns 901,041 shares of the company’s stock valued at $4,721,000 after buying an additional 114,710 shares in the last quarter. Los Angeles Capital Management LLC lifted its holdings in shares of LifeMD by 852.6% during the 3rd quarter. Los Angeles Capital Management LLC now owns 121,585 shares of the company’s stock worth $637,000 after acquiring an additional 108,822 shares during the last quarter. Bank of New York Mellon Corp grew its position in LifeMD by 63.6% in the second quarter. Bank of New York Mellon Corp now owns 234,583 shares of the company’s stock worth $1,609,000 after acquiring an additional 91,183 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in LifeMD by 11.4% in the third quarter. Geode Capital Management LLC now owns 819,233 shares of the company’s stock valued at $4,293,000 after acquiring an additional 83,598 shares during the last quarter. Hedge funds and other institutional investors 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.