KeyCorp Has Lowered Expectations for LifeMD (NASDAQ:LFMD) Stock Price

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

A number of other research analysts also recently issued reports on LFMD. Cantor Fitzgerald restated an “overweight” rating and issued a $15.00 price target on shares of LifeMD in a research report on Friday, September 20th. Lake Street Capital started coverage on shares of LifeMD in a research report on Tuesday, December 10th. They set a “buy” rating and a $12.00 price target on the stock. HC Wainwright reissued a “buy” rating and issued a $12.00 price objective on shares of LifeMD in a research report on Monday, November 11th. Finally, Mizuho started coverage on LifeMD in a research report on Wednesday, December 4th. They set a “neutral” rating and a $7.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.14.

LifeMD Trading Down 7.8 %

Shares of LFMD traded down $0.43 during mid-day trading on Wednesday, reaching $5.11. 496,421 shares of the company were exchanged, compared to its average volume of 708,149. The business has a 50 day simple moving average of $5.56 and a two-hundred day simple moving average of $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. The stock has a market capitalization of $221.32 million, a PE ratio of -7.98 and a beta of 1.49. LifeMD has a 52 week low of $3.99 and a 52 week high of $12.88.

Insider Activity at LifeMD

In other LifeMD news, CEO Justin Schreiber sold 25,000 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $6.52, for a total transaction of $163,000.00. Following the transaction, the chief executive officer now owns 2,728,715 shares in the company, valued at approximately $17,791,221.80. This represents a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 15.97% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On LifeMD

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp boosted its stake in LifeMD by 63.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 234,583 shares of the company’s stock valued at $1,609,000 after purchasing an additional 91,183 shares during the last quarter. Rhumbline Advisers purchased a new stake in LifeMD in the 2nd quarter valued at $326,000. Los Angeles Capital Management LLC bought a new position in LifeMD during the 2nd quarter valued at $88,000. Quest Partners LLC purchased a new position in LifeMD during the 2nd quarter worth $31,000. Finally, ClariVest Asset Management LLC grew its stake in shares of LifeMD by 2.9% in the 2nd quarter. ClariVest Asset Management LLC now owns 91,967 shares of the company’s stock worth $631,000 after acquiring an additional 2,600 shares in the last quarter. 35.52% of the stock is owned by institutional investors.

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.