LifeMD (NASDAQ:LFMD) Research Coverage Started at B. Riley Financial

B. Riley Financial started coverage on shares of LifeMD (NASDAQ:LFMD) in a research note published on Friday, Marketbeat.com reports. The firm issued a buy rating and a $8.00 target price on the stock.

Other analysts have also recently issued reports about the stock. UBS Group reiterated a “buy” rating on shares of LifeMD in a research note on Wednesday, May 27th. Mizuho set a $7.00 price target on shares of LifeMD in a research note on Thursday, August 6th. Wall Street Zen cut shares of LifeMD from a “hold” rating to a “sell” rating in a report on Saturday, July 18th. HC Wainwright lowered their price objective on shares of LifeMD from $10.00 to $9.00 and set a “buy” rating for the company in a research note on Friday, August 7th. Finally, Zacks Research raised shares of LifeMD from a “strong sell” rating to a “hold” rating in a report on Monday, August 17th. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $7.57.

LifeMD Price Performance

NASDAQ:LFMD opened at $3.05 on Friday. The stock has a market capitalization of $147.01 million, a price-to-earnings ratio of -60.99 and a beta of 2.04. LifeMD has a 52 week low of $2.56 and a 52 week high of $7.32. The firm has a 50 day moving average of $3.67 and a 200 day moving average of $3.99.

LifeMD (NASDAQ:LFMD) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.01). The firm had revenue of $47.28 million during 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, analysts expect that LifeMD will post -0.46 EPS for the current year.

Hedge Funds Weigh In On LifeMD

Institutional investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted 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 valued at $270,000 after acquiring an additional 2,235 shares during the period. Creative Planning purchased a new stake in shares of LifeMD in the 2nd quarter valued at $272,000. JPMorgan Chase & Co. increased its stake in shares of LifeMD by 581.2% in 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 increased 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 worth $138,000 after acquiring an additional 6,614 shares during the period. Finally, Rhumbline Advisers raised its holdings in shares of LifeMD by 8.7% during the second quarter. Rhumbline Advisers now owns 53,589 shares of the company’s stock worth $730,000 after purchasing an additional 4,281 shares during the last quarter. 35.52% of the stock is owned by hedge funds and other institutional investors.

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.