Zacks Research Upgrades LifeMD (NASDAQ:LFMD) to “Hold”

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

A number of other research analysts also recently weighed in on LFMD. HC Wainwright decreased 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 Friday, August 7th. KeyCorp set a $5.00 target price on LifeMD and gave the company an “overweight” rating in a research report on Friday, August 7th. BTIG Research cut their price target on LifeMD from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. B. Riley Financial reduced their price target on LifeMD from $10.00 to $8.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Finally, UBS Group reiterated a “buy” rating on shares of LifeMD in a research report on Wednesday, May 27th. Eight research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $7.57.

LifeMD Trading Down 1.5%

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

LifeMD (NASDAQ:LFMD) last posted its earnings results 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 during the quarter, compared to analyst estimates of $49.16 million. LifeMD had a net margin of 0.10% and a negative return on equity of 168.23%. On average, research analysts predict that LifeMD will post -0.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On LifeMD

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Walleye Capital LLC purchased a new stake in LifeMD in the second quarter valued at $1,338,000. Russell Investments Group Ltd. grew its holdings in shares of LifeMD by 5,801.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 314,770 shares of the company’s stock worth $1,300,000 after purchasing an additional 309,436 shares during the period. Whetstone Capital Advisors LLC grew its holdings in shares of LifeMD by 89.6% during the 4th quarter. Whetstone Capital Advisors LLC now owns 703,053 shares of the company’s stock worth $2,397,000 after purchasing an additional 332,269 shares during the period. Prescott Group Capital Management L.L.C. acquired a new stake in shares of LifeMD during the 4th quarter worth about $2,344,000. Finally, MYDA Advisors LLC purchased a new stake in LifeMD in the 4th quarter valued at about $512,000. 35.52% of the stock is currently owned by institutional investors and hedge funds.

LifeMD Company Profile

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.