KeyCorp Raises LifeMD (NASDAQ:LFMD) Price Target to $14.00

LifeMD (NASDAQ:LFMD - Free Report) had its target price increased by KeyCorp from $12.00 to $14.00 in a research report report published on Monday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

LFMD has been the subject of several other research reports. HC Wainwright reaffirmed a "buy" rating and issued a $14.00 price target on shares of LifeMD in a report on Wednesday, April 30th. Lake Street Capital set a $18.00 price target on LifeMD and gave the company a "buy" rating in a report on Thursday. Finally, BTIG Research increased their price objective on LifeMD from $15.00 to $18.00 and gave the stock a "buy" rating in a research report on Wednesday, June 18th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, LifeMD presently has an average rating of "Buy" and an average price target of $13.86.

LifeMD Price Performance

LFMD stock traded down $0.32 during mid-day trading on Monday, reaching $11.00. 340,147 shares of the company's stock were exchanged, compared to its average volume of 1,081,911. The company has a market cap of $499.90 million, a price-to-earnings ratio of -32.38 and a beta of 2.40. The stock's 50 day moving average is $11.79 and its 200 day moving average is $7.80. LifeMD has a 12-month low of $3.99 and a 12-month high of $15.84.

LifeMD (NASDAQ:LFMD - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.04) by $0.05. The business had revenue of $65.70 million for the quarter, compared to analysts' expectations of $62.47 million. On average, research analysts forecast that LifeMD will post -0.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Marc David Benathen sold 50,000 shares of LifeMD stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $14.01, for a total value of $700,500.00. Following the completion of the sale, the chief financial officer directly owned 339,554 shares of the company's stock, valued at approximately $4,757,151.54. The trade was a 12.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Eric Harold Yecies sold 15,000 shares of the business's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $12.25, for a total value of $183,750.00. Following the transaction, the insider directly owned 16,100 shares of the company's stock, valued at $197,225. The trade was a 48.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 346,995 shares of company stock worth $4,119,172 in the last three months. 18.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. CWM LLC grew its stake in LifeMD by 17.5% during the 1st quarter. CWM LLC now owns 9,050 shares of the company's stock worth $49,000 after purchasing an additional 1,351 shares in the last quarter. Prudential Financial Inc. grew its stake in LifeMD by 19.3% during the 4th quarter. Prudential Financial Inc. now owns 13,605 shares of the company's stock worth $67,000 after purchasing an additional 2,200 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of LifeMD by 4.7% during 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 in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of LifeMD by 26.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,012 shares of the company's stock worth $70,000 after acquiring an additional 2,895 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of LifeMD by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 822,217 shares of the company's stock worth $4,071,000 after acquiring an additional 2,984 shares in the last quarter. 35.52% of the stock is owned by institutional investors and hedge funds.

LifeMD Company Profile

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.