LifeMD (NASDAQ:LFMD) Price Target Lowered to $7.00 at KeyCorp

LifeMD (NASDAQ:LFMD) had its price target decreased by KeyCorp from $10.00 to $7.00 in a report released on Wednesday,Benzinga reports. KeyCorp currently has an overweight rating on the stock.

Several other equities analysts have also issued reports on LFMD. Mizuho assumed coverage on LifeMD in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $7.00 price target on the stock. HC Wainwright reissued a “buy” rating and set a $12.00 target price on shares of LifeMD in a research note on Monday, November 11th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $15.00 price target on shares of LifeMD in a research note on Friday, September 20th. Finally, Lake Street Capital assumed coverage on shares of LifeMD in a research report on Tuesday, December 10th. They set a “buy” rating and a $12.00 price objective on the stock. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, LifeMD currently has an average rating of “Moderate Buy” and an average target price of $11.14.

LifeMD Stock Performance

Shares of LFMD stock opened at $5.10 on Wednesday. The company has a debt-to-equity ratio of 10.83, a current ratio of 0.83 and a quick ratio of 0.78. LifeMD has a one year low of $3.99 and a one year high of $12.88. The business’s 50 day simple moving average is $5.57 and its 200 day simple moving average is $5.55. The stock has a market capitalization of $220.89 million, a PE ratio of -7.97 and a beta of 1.49.

Insider Activity at LifeMD

In other news, CEO Justin Schreiber sold 25,000 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $6.52, for a total value of $163,000.00. Following the completion of the sale, the chief executive officer now owns 2,728,715 shares in the company, valued at $17,791,221.80. This represents a 0.91 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 15.97% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LFMD. Bank of New York Mellon Corp lifted its position in shares of LifeMD by 63.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 234,583 shares of the company’s stock worth $1,609,000 after buying an additional 91,183 shares in the last quarter. Rhumbline Advisers bought a new stake in LifeMD during the second quarter worth $326,000. Los Angeles Capital Management LLC bought a new stake in LifeMD during the second quarter worth $88,000. Quest Partners LLC purchased a new position in LifeMD in the second quarter worth $31,000. Finally, ClariVest Asset Management LLC grew its stake in LifeMD by 2.9% in the 2nd quarter. ClariVest Asset Management LLC now owns 91,967 shares of the company’s stock valued at $631,000 after purchasing an additional 2,600 shares during the period. 35.52% of the stock is currently owned by hedge funds and other institutional investors.

LifeMD Company Profile

LifeMD, Inc operates as a direct-to-patient telehealth company that connects consumers to healthcare professionals for medical care in the United States. The company offers telehealth platform comprising RexMD, a men's telehealth brand that provides access to virtual medical treatment for a variety of men's health needs from licensed physician; ShapiroMD that provides virtual medical treatment, prescription medications, patented doctor formulated OTC products, topical compounded medications, and medical devices treating male and female hair loss; NavaMD, a female-oriented tele-dermatology that offers virtual medical treatment from dermatologists and other providers; and prescription oral and compounded topical medications to treat aging and acne; and Cleared which provides personalized treatments for allergy, asthma and immunology, including in-home tests for both environmental and food allergies, prescriptions for allergies and asthma and immunotherapies for treating chronic allergies.