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

LifeMD (NASDAQ:LFMD) had its target price dropped by analysts at KeyCorp from $10.00 to $7.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. KeyCorp’s price target suggests a potential upside of 37.25% from the stock’s previous close.

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

LifeMD Trading Down 7.9 %

LifeMD stock opened at $5.10 on Wednesday. LifeMD has a 12-month low of $3.99 and a 12-month high of $12.88. The firm has a market capitalization of $220.89 million, a price-to-earnings ratio of -7.97 and a beta of 1.49. The firm has a 50 day moving average of $5.59 and a 200 day moving average of $5.55. The company has a current ratio of 0.83, a quick ratio of 0.78 and a debt-to-equity ratio of 10.83.

Insider Buying and Selling at LifeMD

In related news, CEO Justin Schreiber sold 25,000 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $5.19, for a total value of $129,750.00. Following the completion of the transaction, the chief executive officer now owns 2,703,715 shares of the company’s stock, valued at approximately $14,032,280.85. This trade represents a 0.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 15.97% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On LifeMD

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LFMD. State Street Corp increased its position in shares of LifeMD by 20.0% during the 3rd quarter. State Street Corp now owns 1,155,495 shares of the company’s stock valued at $6,055,000 after purchasing an additional 192,861 shares during the last quarter. Royce & Associates LP increased its position in LifeMD by 14.6% during the third quarter. Royce & Associates LP now owns 901,041 shares of the company’s stock valued at $4,721,000 after acquiring an additional 114,710 shares during the last quarter. Los Angeles Capital Management LLC raised its stake in shares of LifeMD by 852.6% in the third quarter. Los Angeles Capital Management LLC now owns 121,585 shares of the company’s stock valued at $637,000 after acquiring an additional 108,822 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of LifeMD by 63.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 234,583 shares of the company’s stock worth $1,609,000 after acquiring an additional 91,183 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of 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 purchasing an additional 83,598 shares during the period. 35.52% of the stock is currently owned by hedge funds and other 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.