LifeMD (NASDAQ:LFMD) Given New $7.00 Price Target at KeyCorp

LifeMD (NASDAQ:LFMD) had its price objective cut by stock analysts at KeyCorp from $10.00 to $7.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. KeyCorp’s target price points to a potential upside of 36.99% from the stock’s current price.

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

LifeMD Stock Down 7.8 %

LifeMD stock traded down $0.43 during mid-day trading on Wednesday, reaching $5.11. The company’s stock had a trading volume of 496,421 shares, compared to its average volume of 708,149. The business’s 50 day simple moving average is $5.56 and its 200 day simple moving average is $5.56. The company has a debt-to-equity ratio of 10.83, a quick ratio of 0.78 and a current ratio of 0.83. LifeMD has a 12 month low of $3.99 and a 12 month high of $12.88. The company has a market capitalization of $221.32 million, a price-to-earnings ratio of -7.98 and a beta of 1.49.

Insider Buying and Selling at LifeMD

In other LifeMD news, CEO Justin Schreiber sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were 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 in the company, valued at $14,032,280.85. The trade was a 0.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 15.97% of the company’s stock.

Hedge Funds Weigh In On LifeMD

Institutional investors have recently added to or reduced their stakes in the stock. Los Angeles Capital Management LLC increased its holdings in shares of LifeMD by 852.6% during the third quarter. Los Angeles Capital Management LLC now owns 121,585 shares of the company’s stock worth $637,000 after buying an additional 108,822 shares in the last quarter. State Street Corp grew its holdings in shares of LifeMD by 20.0% during the third quarter. State Street Corp now owns 1,155,495 shares of the company’s stock worth $6,055,000 after purchasing an additional 192,861 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new position in shares of LifeMD in the second quarter valued at approximately $93,000. Centiva Capital LP bought a new position in LifeMD in the 3rd quarter valued at approximately $196,000. Finally, Geode Capital Management LLC boosted its position in LifeMD by 11.4% during the 3rd quarter. Geode Capital Management LLC now owns 819,233 shares of the company’s stock worth $4,293,000 after buying an additional 83,598 shares during the period. 35.52% of the stock is currently owned by institutional investors and hedge funds.

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.