HC Wainwright Has Lowered Expectations for LifeMD (NASDAQ:LFMD) Stock Price

LifeMD (NASDAQ:LFMD) had its price target dropped by equities research analysts at HC Wainwright from $10.00 to $9.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price target would suggest a potential upside of 164.71% from the stock’s previous close.

LFMD has been the topic of several other reports. Weiss Ratings reiterated a “sell (d)” rating on shares of LifeMD in a research report on Tuesday. B. Riley Financial decreased their price target on LifeMD from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Thursday. Zacks Research lowered LifeMD from a “hold” rating to a “strong sell” rating in a research note on Friday, July 17th. Mizuho set a $7.00 price target on shares of LifeMD in a research report on Thursday. Finally, BTIG Research lowered their price objective on shares of LifeMD from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Thursday. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $8.00.

LifeMD Trading Down 7.6%

Shares of LifeMD stock opened at $3.40 on Friday. The stock has a market capitalization of $164.42 million, a price-to-earnings ratio of -67.99 and a beta of 2.02. LifeMD has a 1-year low of $2.56 and a 1-year high of $7.32. The firm has a fifty day simple moving average of $4.40 and a 200-day simple moving average of $3.97.

LifeMD (NASDAQ:LFMD) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). LifeMD had a negative return on equity of 150.35% and a net margin of 0.10%.The business had revenue of $47.28 million during the quarter, compared to the consensus estimate of $49.16 million. As a group, research analysts predict that LifeMD will post -0.37 earnings per share for the current year.

Institutional Trading of LifeMD

Several institutional investors and hedge funds have recently added to or reduced their stakes in LFMD. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in LifeMD by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,647 shares of the company’s stock worth $270,000 after acquiring an additional 2,235 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in shares of LifeMD by 110.4% during the second quarter. Tower Research Capital LLC TRC now owns 4,674 shares of the company’s stock worth $64,000 after purchasing an additional 2,452 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of LifeMD by 13.8% in the 4th quarter. SG Americas Securities LLC now owns 25,298 shares of the company’s stock valued at $86,000 after buying an additional 3,061 shares during the period. Invesco Ltd. increased its position in shares of LifeMD by 18.8% in the 4th quarter. Invesco Ltd. now owns 24,464 shares of the company’s stock valued at $83,000 after buying an additional 3,870 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in LifeMD by 8.7% during the 2nd quarter. Rhumbline Advisers now owns 53,589 shares of the company’s stock worth $730,000 after buying an additional 4,281 shares during the period. 35.52% of the stock is owned by institutional investors.

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.