LifeMD (NASDAQ:LFMD) Price Target Lowered to $9.00 at HC Wainwright

LifeMD (NASDAQ:LFMD) had its price objective cut by HC Wainwright from $10.00 to $9.00 in a report published on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts have also recently issued reports on LFMD. Lake Street Capital set a $5.00 price target on shares of LifeMD in a report on Thursday. Mizuho set a $7.00 target price on shares of LifeMD in a research report on Thursday. B. Riley Financial cut their target price on shares of LifeMD from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Thursday. UBS Group reaffirmed a “buy” rating on shares of LifeMD in a research report on Wednesday, May 27th. Finally, Zacks Research downgraded LifeMD from a “hold” rating to a “strong sell” rating in a research note on Friday, July 17th. Eight equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat.com, LifeMD has a consensus rating of “Moderate Buy” and a consensus price target of $7.57.

LifeMD Stock Up 4.7%

Shares of NASDAQ LFMD opened at $3.56 on Friday. LifeMD has a fifty-two week low of $2.56 and a fifty-two week high of $7.32. The business has a 50 day moving average price of $4.39 and a two-hundred day moving average price of $3.97. The firm has a market cap of $171.59 million, a PE ratio of -71.19 and a beta of 2.02.

LifeMD (NASDAQ:LFMD) last announced its earnings results on Wednesday, August 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). The business 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 150.35%. On average, analysts anticipate that LifeMD will post -0.37 earnings per share for the current year.

Institutional Trading of LifeMD

A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. lifted its position in shares of LifeMD by 8.0% in the 2nd quarter. BlackRock Inc. now owns 3,034,535 shares of the company’s stock worth $12,533,000 after buying an additional 225,510 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of LifeMD by 2.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 246,586 shares of the company’s stock valued at $1,018,000 after buying an additional 5,651 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in LifeMD during the second quarter worth about $128,000. Russell Investments Group Ltd. raised its stake in LifeMD by 5,801.2% during the second quarter. Russell Investments Group Ltd. now owns 314,770 shares of the company’s stock worth $1,300,000 after acquiring an additional 309,436 shares during the period. Finally, Walleye Capital LLC bought a new position in LifeMD in the second quarter worth about $1,338,000. 35.52% of the stock is owned by institutional investors and hedge funds.

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.