Mizuho Issues Pessimistic Forecast for LifeMD (NASDAQ:LFMD) Stock Price

LifeMD (NASDAQ:LFMD) had its price objective cut by equities researchers at Mizuho from $7.00 to $6.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Mizuho‘s target price points to a potential upside of 191.97% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of LifeMD in a research note on Monday, November 2nd. B. Riley Financial began coverage on shares of LifeMD in a report on Friday, September 11th. They set a “buy” rating and a $8.00 price objective on the stock. HC Wainwright reissued a “buy” rating and set a $9.00 price objective on shares of LifeMD in a research report on Thursday, September 17th. Zacks Research upgraded LifeMD from a “strong sell” rating to a “hold” rating in a research note on Monday, August 17th. Finally, BTIG Research decreased their target price on LifeMD from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Eight analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $7.43.

LifeMD Stock Performance

Shares of LFMD stock traded up $0.40 during trading hours on Friday, hitting $2.06. 4,391,024 shares of the company were exchanged, compared to its average volume of 1,026,271. The firm has a market cap of $99.05 million, a P/E ratio of -40.89 and a beta of 2.19. LifeMD has a fifty-two week low of $1.60 and a fifty-two week high of $5.38. The company has a 50 day simple moving average of $2.62 and a two-hundred day simple moving average of $3.58.

LifeMD (NASDAQ:LFMD) last released its quarterly earnings data on Thursday, November 12th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.03. LifeMD had a net margin of 0.10% and a negative return on equity of 168.23%. The company had revenue of $44.63 million during the quarter, compared to analyst estimates of $48.84 million. As a group, sell-side analysts expect that LifeMD will post -0.48 EPS for the current fiscal year.

Institutional Trading of LifeMD

Hedge funds and other institutional investors have recently bought and sold shares of the business. Walleye Capital LLC acquired a new position in LifeMD during the second quarter worth $1,338,000. Russell Investments Group Ltd. lifted its stake in shares of LifeMD by 5,801.2% in the second quarter. Russell Investments Group Ltd. now owns 314,770 shares of the company’s stock valued at $1,300,000 after buying an additional 309,436 shares in the last quarter. Bank of America Corp DE acquired a new position in shares of LifeMD during the second quarter valued at about $1,078,000. State Street Corp grew its holdings in shares of LifeMD by 22.6% during the second quarter. State Street Corp now owns 1,318,784 shares of the company’s stock valued at $5,447,000 after buying an additional 243,376 shares during the last quarter. Finally, BlackRock Inc. grew its holdings in shares of LifeMD by 8.0% during the second quarter. BlackRock Inc. now owns 3,034,535 shares of the company’s stock valued at $12,533,000 after buying an additional 225,510 shares during the last quarter. Institutional investors own 35.52% of the company’s stock.

About LifeMD

LifeMD, Inc. is a virtual healthcare company that connects patients with medical providers through its telehealth platform. Its services include virtual primary care and specialty care, with offerings in areas such as men’s health and weight management. The company operates the LifeMD and Rex MD brands and supports care through online consultations, treatment plans and, when prescribed, medication. Service availability and treatment options may vary by state and individual patient needs. LifeMD serves patients in the United States.