LifeMD (NASDAQ:LFMD) Rating Increased to Hold at Wall Street Zen

LifeMD (NASDAQ:LFMD) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

A number of other equities analysts have also recently commented on LFMD. Loop Capital set a $10.00 price target on LifeMD in a report on Thursday, March 12th. HC Wainwright reaffirmed a “buy” rating and issued a $10.00 price objective on shares of LifeMD in a research note on Tuesday, May 26th. Cantor Fitzgerald reiterated an “overweight” rating on shares of LifeMD in a research report on Tuesday, March 10th. Mizuho raised LifeMD from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $6.00 to $8.00 in a research note on Monday, March 16th. Finally, UBS Group reissued a “buy” rating on shares of LifeMD in a report on Wednesday, May 27th. Eight investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, LifeMD presently has an average rating of “Moderate Buy” and a consensus price target of $9.14.

LifeMD Price Performance

Shares of LFMD opened at $4.75 on Friday. LifeMD has a one year low of $2.56 and a one year high of $15.84. The company has a market cap of $229.71 million, a P/E ratio of 95.02 and a beta of 1.98. The firm has a 50 day simple moving average of $4.50 and a two-hundred day simple moving average of $3.83.

LifeMD (NASDAQ:LFMD) last released its earnings results on Wednesday, May 6th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.06). The business had revenue of $50.16 million for the quarter, compared to the consensus estimate of $48.84 million. LifeMD had a negative return on equity of 150.88% and a net margin of 2.37%. On average, analysts expect that LifeMD will post -0.37 earnings per share for the current fiscal year.

Institutional Investors Weigh In On LifeMD

Several hedge funds have recently added to or reduced their stakes in LFMD. Bank of America Corp DE increased its position in LifeMD by 10.1% in the 1st quarter. Bank of America Corp DE now owns 48,703 shares of the company’s stock valued at $176,000 after acquiring an additional 4,465 shares during the period. Sei Investments Co. bought a new position in shares of LifeMD during the first quarter valued at $148,000. State of Wyoming raised its stake in shares of LifeMD by 146.9% during the first quarter. State of Wyoming now owns 142,499 shares of the company’s stock valued at $514,000 after acquiring an additional 84,785 shares during the last quarter. R Squared Ltd acquired a new position in shares of LifeMD during the first quarter worth $41,000. Finally, Aristides Capital LLC acquired a new position in shares of LifeMD during the fourth quarter worth $203,000. 35.52% of the stock is currently 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.