Lake Street Capital Has Lowered Expectations for LifeMD (NASDAQ:LFMD) Stock Price

Key Points

• Lake Street Capital has lowered its price target for LifeMD (NASDAQ:LFMD) from $18.00 to $14.00, while still maintaining a "buy" rating, indicating a potential upside of 114.40% from the stock’s previous close.
• LifeMD's stock has seen a significant drop of 44.8% recently, trading at $6.53, and has a 52-week range of $3.99 to $15.84.
• Insider trading activity includes CEO Justin Schreiber selling 25,000 shares at an average price of $13.38, while CFO Marc David Benathen sold 50,000 shares at an average price of $14.01.

LifeMD (NASDAQ:LFMD - Free Report) had its target price decreased by Lake Street Capital from $18.00 to $14.00 in a research note issued to investors on Wednesday,Benzinga reports. Lake Street Capital currently has a buy rating on the stock.

Several other analysts have also commented on the company. BTIG Research raised their target price on LifeMD from $15.00 to $18.00 and gave the stock a "buy" rating in a report on Wednesday, June 18th. Wall Street Zen lowered LifeMD from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. HC Wainwright restated a "buy" rating and issued a $14.00 price objective on shares of LifeMD in a research report on Wednesday, April 30th. Finally, KeyCorp cut their price objective on LifeMD from $14.00 to $12.00 and set an "overweight" rating for the company in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, LifeMD has a consensus rating of "Moderate Buy" and an average price target of $12.86.

LifeMD Stock Performance

LifeMD stock traded up $0.21 during midday trading on Wednesday, hitting $6.82. 2,887,298 shares of the company were exchanged, compared to its average volume of 2,315,039. The firm has a market capitalization of $323.38 million, a PE ratio of -32.48 and a beta of 1.72. LifeMD has a fifty-two week low of $3.99 and a fifty-two week high of $15.84. The business has a fifty day simple moving average of $11.86 and a two-hundred day simple moving average of $8.52. The company has a debt-to-equity ratio of 9.21, a quick ratio of 0.72 and a current ratio of 0.77.

Insider Transactions at LifeMD

In other news, insider Eric Harold Yecies sold 15,000 shares of LifeMD stock in a transaction that occurred 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 sale, 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Marc David Benathen sold 50,000 shares of LifeMD stock in a transaction that occurred 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 in the company, valued at $4,757,151.54. This represents a 12.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 275,000 shares of company stock valued at $3,564,550. Insiders own 18.40% of the company's stock.

Institutional Trading of LifeMD

A number of institutional investors have recently made changes to their positions in LFMD. Creative Planning acquired a new position in LifeMD during the second quarter worth $272,000. SG Americas Securities LLC boosted its stake in LifeMD by 97.6% during the second quarter. SG Americas Securities LLC now owns 21,948 shares of the company's stock worth $299,000 after buying an additional 10,843 shares during the last quarter. Calamos Advisors LLC acquired a new position in LifeMD during the second quarter worth $543,000. Geode Capital Management LLC boosted its stake in LifeMD by 7.9% during the second quarter. Geode Capital Management LLC now owns 925,173 shares of the company's stock worth $12,603,000 after buying an additional 67,440 shares during the last quarter. Finally, Pier 88 Investment Partners LLC acquired a new position in LifeMD during the second quarter worth $584,000. 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.