LifeMD (NASDAQ:LFMD) Price Target Lowered to $12.00 at KeyCorp

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 target price lowered by stock analysts at KeyCorp from $14.00 to $12.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an "overweight" rating on the stock. KeyCorp's price objective points to a potential upside of 75.95% from the stock's current price.

Other equities analysts have also recently issued reports about the company. BTIG Research lifted their price objective on LifeMD from $15.00 to $18.00 and gave the company a "buy" rating in a report on Wednesday, June 18th. Lake Street Capital lifted their price objective on LifeMD from $12.00 to $18.00 and gave the company a "buy" rating in a report on Thursday, July 10th. Wall Street Zen cut LifeMD from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, HC Wainwright reissued a "buy" rating and set a $14.00 price target on shares of LifeMD in a report on Wednesday, April 30th. Two investment 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's stock. According to MarketBeat, LifeMD currently has an average rating of "Moderate Buy" and an average target price of $12.86.

LifeMD Stock Up 3.2%

NASDAQ:LFMD traded up $0.21 during mid-day trading on Wednesday, hitting $6.82. 2,887,298 shares of the stock were exchanged, compared to its average volume of 2,315,039. The firm's 50-day simple moving average is $11.86 and its 200 day simple moving average is $8.49. The company has a debt-to-equity ratio of 9.21, a quick ratio of 0.72 and a current ratio of 0.77. LifeMD has a fifty-two week low of $3.99 and a fifty-two week high of $15.84.

Insiders Place Their Bets

In related news, insider Stefan Galluppi sold 85,000 shares of the business's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $12.38, for a total transaction of $1,052,300.00. Following the sale, the insider owned 80,449 shares in the company, valued at $995,958.62. The trade was a 51.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Marc David Benathen sold 50,000 shares of the business's 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 sale, the chief financial officer owned 339,554 shares in the company, valued at $4,757,151.54. This represents a 12.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 275,000 shares of company stock valued at $3,564,550 in the last quarter. Corporate insiders own 18.40% of the company's stock.

Institutional Investors Weigh In On LifeMD

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Creative Planning bought a new stake in LifeMD during the 2nd quarter worth $272,000. SG Americas Securities LLC grew its position in LifeMD by 97.6% during the 2nd quarter. SG Americas Securities LLC now owns 21,948 shares of the company's stock worth $299,000 after acquiring an additional 10,843 shares during the last quarter. Calamos Advisors LLC bought a new stake in LifeMD during the 2nd quarter worth $543,000. Geode Capital Management LLC grew its position in LifeMD by 7.9% during the 2nd quarter. Geode Capital Management LLC now owns 925,173 shares of the company's stock worth $12,603,000 after acquiring an additional 67,440 shares during the last quarter. Finally, Pier 88 Investment Partners LLC bought a new stake in LifeMD during the 2nd quarter worth $584,000. 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.