LifeMD (NASDAQ:LFMD) Given “Buy” Rating at HC Wainwright

LifeMD (NASDAQ:LFMD)‘s stock had its “buy” rating restated by investment analysts at HC Wainwright in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $10.00 price target on the stock. HC Wainwright’s price target would suggest a potential upside of 128.83% from the stock’s previous close.

A number of other analysts have also commented on LFMD. Weiss Ratings raised LifeMD from a “sell (e+)” rating to a “sell (d)” rating in a research note on Thursday, May 7th. BTIG Research reaffirmed a “buy” rating and issued a $10.00 price objective on shares of LifeMD in a research note on Monday, May 4th. Wall Street Zen lowered LifeMD from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Mizuho raised LifeMD from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $6.00 to $8.00 in a research note on Monday, March 16th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of LifeMD in a research note on Tuesday, March 10th. Seven research 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $9.14.

LifeMD Stock Up 4.3%

Shares of LFMD stock traded up $0.18 during mid-day trading on Tuesday, reaching $4.37. 260,609 shares of the stock traded hands, compared to its average volume of 1,143,946. The stock’s fifty day simple moving average is $4.15 and its two-hundred day simple moving average is $3.79. LifeMD has a 1-year low of $2.56 and a 1-year high of $15.84. The company has a market cap of $211.33 million, a price-to-earnings ratio of 87.42 and a beta of 2.03.

LifeMD (NASDAQ:LFMD) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.06). LifeMD had a net margin of 2.37% and a negative return on equity of 150.88%. The firm had revenue of $50.16 million for the quarter, compared to analyst estimates of $48.84 million. On average, equities research analysts anticipate that LifeMD will post 0.04 EPS for the current fiscal year.

Hedge Funds Weigh In On LifeMD

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of LifeMD by 6.7% in the third quarter. Vanguard Group Inc. now owns 2,226,871 shares of the company’s stock worth $15,120,000 after acquiring an additional 140,749 shares during the period. Federated Hermes Inc. lifted its stake in LifeMD by 278.1% in the fourth quarter. Federated Hermes Inc. now owns 980,285 shares of the company’s stock valued at $3,343,000 after buying an additional 721,018 shares during the period. Geode Capital Management LLC lifted its stake in LifeMD by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 959,700 shares of the company’s stock valued at $3,273,000 after buying an additional 11,324 shares during the period. Royce & Associates LP lifted its stake in LifeMD by 11.7% in the fourth quarter. Royce & Associates LP now owns 909,651 shares of the company’s stock valued at $3,102,000 after buying an additional 95,200 shares during the period. Finally, Whetstone Capital Advisors LLC lifted its stake in LifeMD by 89.6% in the fourth quarter. Whetstone Capital Advisors LLC now owns 703,053 shares of the company’s stock valued at $2,397,000 after buying an additional 332,269 shares during the period. 35.52% of the stock is 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.