LifeMD (NASDAQ:LFMD) Price Target Cut to $7.00 by Analysts at KeyCorp

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

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

LifeMD Trading Down 7.1 %

LFMD opened at $4.74 on Wednesday. The business’s 50 day moving average price is $5.60 and its 200 day moving average price is $5.54. The company has a debt-to-equity ratio of 10.83, a quick ratio of 0.78 and a current ratio of 0.83. The stock has a market capitalization of $205.30 million, a PE ratio of -7.41 and a beta of 1.49. LifeMD has a one year low of $3.99 and a one year high of $12.88.

Insiders Place Their Bets

In related news, CEO Justin Schreiber sold 25,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $5.19, for a total transaction of $129,750.00. Following the completion of the transaction, the chief executive officer now directly owns 2,703,715 shares of the company’s stock, valued at $14,032,280.85. The trade was a 0.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 15.97% of the company’s stock.

Hedge Funds Weigh In On LifeMD

Several hedge funds and other institutional investors have recently made changes to their positions in LFMD. Quest Partners LLC acquired a new stake in LifeMD in the second quarter valued at approximately $31,000. nVerses Capital LLC purchased a new stake in shares of LifeMD in the 3rd quarter valued at approximately $46,000. Intech Investment Management LLC acquired a new stake in shares of LifeMD in the 3rd quarter valued at $54,000. CWM LLC acquired a new position in shares of LifeMD during the third quarter worth $59,000. Finally, SG Americas Securities LLC purchased a new position in LifeMD in the third quarter valued at $70,000. Hedge funds and other institutional investors own 35.52% of the company’s stock.

About LifeMD

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.