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 report released on Monday,Zacks.com reports.

Other research analysts have also issued research reports about the stock. KeyCorp set a $5.00 target price on shares of LifeMD and gave the stock an “overweight” rating in a research note on Friday, August 7th. Weiss Ratings restated a “sell (d)” rating on shares of LifeMD in a report on Tuesday, August 4th. UBS Group reaffirmed a “buy” rating on shares of LifeMD in a research report on Wednesday, May 27th. Wall Street Zen downgraded shares of LifeMD from a “hold” rating to a “sell” rating in a report on Saturday, July 18th. Finally, BTIG Research decreased their price target on LifeMD from $10.00 to $9.00 and set a “buy” rating on the stock 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 given a Sell rating to the company. Based on data from MarketBeat.com, LifeMD presently has an average rating of “Moderate Buy” and an average 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 business’s fifty day simple moving average is $4.19 and its 200-day simple moving average is $3.96. The firm has a market cap of $157.61 million, a PE ratio of -65.39 and a beta of 2.02.

LifeMD (NASDAQ:LFMD) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). The business 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, equities analysts expect that LifeMD will post -0.48 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased 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 buying an additional 2,235 shares during the period. Creative Planning acquired a new position in shares of LifeMD in the second quarter worth $272,000. JPMorgan Chase & Co. increased its position in shares of LifeMD by 581.2% during the second quarter. JPMorgan Chase & Co. now owns 412,571 shares of the company’s stock worth $5,619,000 after acquiring an additional 352,004 shares during the period. Legal & General Group Plc raised its stake in shares of LifeMD by 187.4% in the second quarter. Legal & General Group Plc now owns 10,144 shares of the company’s stock valued at $138,000 after acquiring an additional 6,614 shares in the last quarter. Finally, Rhumbline Advisers boosted its holdings in LifeMD by 8.7% in the second quarter. Rhumbline Advisers now owns 53,589 shares of the company’s stock valued at $730,000 after purchasing an additional 4,281 shares during the period. Hedge funds and other institutional investors 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.