LifeMD (NASDAQ:LFMD) Cut to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen downgraded LifeMD from a “hold” to a “sell,” adding to the mixed analyst sentiment around the telehealth company.
• Despite the downgrade, broader analyst coverage remains more positive overall: eight analysts rate LFMD a Buy, with a consensus rating of “Moderate Buy” and an average price target of $9.14.
• LifeMD shares fell 7.8% and the stock opened at $4.15, after the company recently reported a quarterly EPS miss even though revenue came in above expectations.

LifeMD (NASDAQ:LFMD - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Saturday.

Several other research firms have also commented on LFMD. BTIG Research reissued a "buy" rating and issued a $10.00 price objective on shares of LifeMD in a research note on Monday, May 4th. HC Wainwright reaffirmed a "buy" rating and set a $10.00 target price on shares of LifeMD in a research note on Tuesday, May 26th. Weiss Ratings upgraded shares of LifeMD from a "sell (e+)" rating to a "sell (d)" rating in a report on Thursday, May 7th. Finally, UBS Group reissued a "buy" rating on shares of LifeMD in a research report on Wednesday, May 27th. Eight equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $9.14.

LifeMD Stock Down 7.8%

LFMD opened at $4.15 on Friday. The firm has a market cap of $200.69 million, a P/E ratio of 83.02 and a beta of 1.99. LifeMD has a 52 week low of $2.56 and a 52 week high of $12.72. The business has a fifty day simple moving average of $4.55 and a 200-day simple moving average of $3.97.

LifeMD (NASDAQ:LFMD - Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported ($0.20) EPS for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.06). The firm had revenue of $50.16 million for the quarter, compared to analysts' expectations of $48.84 million. LifeMD had a net margin of 2.37% and a negative return on equity of 150.88%. Sell-side analysts expect that LifeMD will post -0.37 earnings per share for the current year.

Hedge Funds Weigh In On LifeMD

Several large investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in 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 buying an additional 2,235 shares during the last quarter. Creative Planning acquired a new position in shares of LifeMD during the 2nd quarter worth about $272,000. JPMorgan Chase & Co. increased its holdings in shares of LifeMD by 581.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 412,571 shares of the company's stock valued at $5,619,000 after acquiring an additional 352,004 shares during the last quarter. Legal & General Group Plc raised its position in shares of LifeMD by 187.4% during the 2nd quarter. Legal & General Group Plc now owns 10,144 shares of the company's stock worth $138,000 after acquiring an additional 6,614 shares in the last quarter. Finally, Rhumbline Advisers lifted its stake in LifeMD by 8.7% during the second quarter. Rhumbline Advisers now owns 53,589 shares of the company's stock worth $730,000 after purchasing an additional 4,281 shares during the last quarter. Hedge funds and other institutional investors own 35.52% of the company's stock.

LifeMD Company 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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