Renaissance Technologies LLC Trims Stock Holdings in LifeMD, Inc. $LFMD

Key Points

• Renaissance Technologies cut its LifeMD stake by 25.4% in the first quarter, selling 380,000 shares and retaining 1.12 million shares worth approximately $4.04 million.
• Analysts maintain a generally positive view, with eight Buy ratings and two Sell ratings, a “Moderate Buy” consensus, and an average price target of $7.57. However, B. Riley lowered its target to $8, while Wall Street Zen downgraded the stock to Sell.
• LifeMD recently reported a quarterly loss of $0.16 per share and revenue of $47.28 million, both slightly below expectations. The stock opened at $3.56, compared with a 52-week range of $2.56 to $7.32.

Renaissance Technologies LLC lessened its holdings in shares of LifeMD, Inc. (NASDAQ:LFMD - Free Report) by 25.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,118,325 shares of the company's stock after selling 380,000 shares during the quarter. Renaissance Technologies LLC owned 2.31% of LifeMD worth $4,037,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd purchased a new position in shares of LifeMD during the 4th quarter valued at approximately $36,000. R Squared Ltd bought a new stake in shares of LifeMD in the first quarter worth $41,000. Jain Global LLC acquired a new stake in LifeMD in the fourth quarter valued at $45,000. Quarry LP bought a new position in LifeMD during the 3rd quarter valued at $52,000. Finally, Tower Research Capital LLC TRC boosted its stake in LifeMD by 110.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,674 shares of the company's stock valued at $64,000 after acquiring an additional 2,452 shares during the last quarter. 35.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on LFMD shares. Lake Street Capital set a $5.00 target price on shares of LifeMD in a research report on Thursday. B. Riley Financial decreased their price target on LifeMD from $10.00 to $8.00 and set a "buy" rating for the company in a research note on Thursday. Mizuho set a $7.00 price objective on LifeMD in a report on Thursday. UBS Group restated a "buy" rating on shares of LifeMD in a research note on Wednesday, May 27th. Finally, Wall Street Zen downgraded LifeMD from a "hold" rating to a "sell" rating in a report on Saturday, July 18th. Eight investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $7.57.

LifeMD Stock Performance

LFMD stock opened at $3.56 on Friday. LifeMD, Inc. has a 1 year low of $2.56 and a 1 year high of $7.32. The stock has a market capitalization of $171.59 million, a price-to-earnings ratio of -71.19 and a beta of 2.02. The stock's fifty day moving average is $4.39 and its two-hundred day moving average is $3.97.

LifeMD (NASDAQ:LFMD - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.01). The firm had revenue of $47.28 million for the quarter, compared to the consensus estimate of $49.16 million. LifeMD had a negative return on equity of 150.35% and a net margin of 0.10%. As a group, analysts predict that LifeMD, Inc. will post -0.37 EPS for the current fiscal year.

LifeMD Profile

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.

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