LifeMD, Inc. (NASDAQ:LFMD) Receives $7.57 Average PT from Brokerages

Shares of LifeMD, Inc. (NASDAQ:LFMD) have earned a consensus recommendation of “Moderate Buy” from the ten research firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $7.5714.

LFMD has been the subject of a number of analyst reports. B. Riley Financial decreased their price objective on shares of LifeMD from $10.00 to $8.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Weiss Ratings reissued a “sell (d)” rating on shares of LifeMD in a report on Tuesday, August 4th. Lake Street Capital set a $5.00 price target on LifeMD in a report on Thursday, August 6th. BTIG Research dropped their price target on LifeMD from $10.00 to $9.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Finally, Zacks Research raised LifeMD from a “strong sell” rating to a “hold” rating in a research report on Monday, August 17th.

LifeMD Stock Up 2.7%

LifeMD stock opened at $3.03 on Tuesday. The business’s 50-day simple moving average is $3.70 and its 200 day simple moving average is $3.98. The stock has a market cap of $146.05 million, a price-to-earnings ratio of -60.59 and a beta of 2.04. LifeMD has a 12-month low of $2.56 and a 12-month high of $7.32.

LifeMD (NASDAQ:LFMD) last released its earnings results on Wednesday, August 5th. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). The business had revenue of $47.28 million for the quarter, compared to analyst estimates of $49.16 million. LifeMD had a negative return on equity of 168.23% and a net margin of 0.10%. As a group, sell-side analysts expect that LifeMD will post -0.46 EPS for the current year.

Hedge Funds Weigh In On LifeMD

A number of institutional investors have recently bought and sold shares of LFMD. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of LifeMD by 4.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,647 shares of the company’s stock worth $270,000 after acquiring an additional 2,235 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of LifeMD by 110.4% during the second quarter. Tower Research Capital LLC TRC now owns 4,674 shares of the company’s stock valued at $64,000 after purchasing an additional 2,452 shares during the period. Invesco Ltd. grew its holdings in shares of LifeMD by 18.8% in the fourth quarter. Invesco Ltd. now owns 24,464 shares of the company’s stock worth $83,000 after purchasing an additional 3,870 shares during the last quarter. Rhumbline Advisers grew its holdings in LifeMD by 8.7% in the 2nd quarter. Rhumbline Advisers now owns 53,589 shares of the company’s stock worth $730,000 after acquiring an additional 4,281 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in LifeMD by 10.1% in the 1st quarter. Bank of America Corp DE now owns 48,703 shares of the company’s stock worth $176,000 after acquiring an additional 4,465 shares during the last quarter. Institutional investors and hedge funds own 35.52% of the company’s stock.

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.