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

Key Points

• KeyCorp has lowered its target price for LifeMD (NASDAQ:LFMD) from $14.00 to $12.00, while maintaining an "overweight" rating, indicating a potential upside of 82.43% from the stock's previous close.
• LifeMD's stock recently dropped 44.4% to $6.58, with a market cap of $298.97 million and a one-year trading range between $3.99 and $15.84.
• The company reported earnings that missed estimates, with a loss of ($0.06) per share, and revenue of $62.22 million, falling short of expectations for $66.17 million.

LifeMD (NASDAQ:LFMD - Get Free Report) had its price objective lowered by analysts at KeyCorp from $14.00 to $12.00 in a report released on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the stock. KeyCorp's price target would suggest a potential upside of 76.34% from the company's previous close.

Several other research analysts have also weighed in on LFMD. Wall Street Zen lowered LifeMD from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. BTIG Research boosted their price objective on shares of LifeMD from $15.00 to $18.00 and gave the stock a "buy" rating in a research note on Wednesday, June 18th. Lake Street Capital upped their price objective on shares of LifeMD from $12.00 to $18.00 and gave the company a "buy" rating in a report on Thursday, July 10th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $14.00 price objective on shares of LifeMD in a report on Wednesday, April 30th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, LifeMD has an average rating of "Moderate Buy" and a consensus price target of $12.86.

LifeMD Stock Performance

Shares of LFMD traded up $0.20 during mid-day trading on Wednesday, hitting $6.81. The company's stock had a trading volume of 1,011,162 shares, compared to its average volume of 1,643,833. The stock's 50-day moving average is $11.97 and its two-hundred day moving average is $8.46. LifeMD has a one year low of $3.99 and a one year high of $15.84. The company has a debt-to-equity ratio of 9.21, a quick ratio of 0.77 and a current ratio of 0.77. The firm has a market capitalization of $309.29 million, a PE ratio of -32.52 and a beta of 1.72.

LifeMD (NASDAQ:LFMD - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.01 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 the consensus estimate of $62.47 million. As a group, sell-side analysts anticipate that LifeMD will post -0.56 EPS for the current year.

Insider Transactions at LifeMD

In other news, insider Eric Harold Yecies sold 15,000 shares of the firm's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $12.25, for a total transaction of $183,750.00. Following the transaction, the insider directly owned 16,100 shares of the company's stock, valued at approximately $197,225. This trade represents a 48.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Marc David Benathen sold 75,000 shares of the company's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $13.09, for a total transaction of $981,750.00. Following the sale, the chief financial officer owned 389,554 shares of the company's stock, valued at $5,099,261.86. This represents a 16.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 275,000 shares of company stock valued at $3,564,550. 18.40% of the stock is currently owned by corporate insiders.

Institutional Trading of LifeMD

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LFMD. Raymond James Financial Inc. bought a new position in LifeMD in the fourth quarter worth about $473,000. Prudential Financial Inc. boosted its position in shares of LifeMD by 19.3% during the fourth quarter. Prudential Financial Inc. now owns 13,605 shares of the company's stock valued at $67,000 after purchasing an additional 2,200 shares in the last quarter. Geode Capital Management LLC grew its position in shares of LifeMD by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 822,217 shares of the company's stock worth $4,071,000 after buying an additional 2,984 shares during the period. Wells Fargo & Company MN increased its stake in shares of LifeMD by 44.7% during the fourth quarter. Wells Fargo & Company MN now owns 18,732 shares of the company's stock valued at $93,000 after purchasing an additional 5,791 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd grew its stake in shares of LifeMD by 134.2% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 100,836 shares of the company's stock worth $499,000 after buying an additional 57,788 shares during the last quarter. Hedge funds and other institutional investors own 35.52% of the company's stock.

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.