Wall Street Zen Downgrades LifeMD (NASDAQ:LFMD) to Hold

Key Points

• LifeMD was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating, amidst varied opinions from other analysts regarding the company's stock performance.
• LifeMD's stock has a market cap of $451.77 million, with a twelve-month low of $3.99 and a high of $15.84, reflecting significant volatility in its share price.
• Recent insider selling activity included CFO Marc David Benathen offloading 50,000 shares at an average price of $14.01, representing a notable 12.84% decrease in his ownership stake.

Wall Street Zen cut shares of LifeMD (NASDAQ:LFMD - Free Report) from a buy rating to a hold rating in a research note released on Saturday morning.

A number of other equities analysts have also commented on the stock. BTIG Research boosted their price target on shares of LifeMD from $15.00 to $18.00 and gave the company a "buy" rating in a research report on Wednesday, June 18th. HC Wainwright reaffirmed a "buy" rating and issued a $14.00 target price on shares of LifeMD in a research note on Wednesday, April 30th. Lake Street Capital boosted their target price on shares of LifeMD from $12.00 to $18.00 and gave the stock a "buy" rating in a research note on Thursday, July 10th. Finally, KeyCorp boosted their target price on shares of LifeMD from $12.00 to $14.00 and gave the stock an "overweight" rating in a research note on Monday, July 14th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $13.86.

LifeMD Stock Up 24.2%

NASDAQ LFMD traded up $2.41 during midday trading on Friday, hitting $12.35. The company had a trading volume of 4,394,391 shares, compared to its average volume of 1,508,736. The firm has a fifty day simple moving average of $12.14 and a two-hundred day simple moving average of $8.39. LifeMD has a fifty-two week low of $3.99 and a fifty-two week high of $15.84. The stock has a market cap of $561.28 million, a price-to-earnings ratio of -36.32 and a beta of 1.72.

LifeMD (NASDAQ:LFMD - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.05. The business had revenue of $65.70 million for the quarter, compared to analyst estimates of $62.47 million. As a group, equities analysts predict that LifeMD will post -0.56 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Marc David Benathen sold 75,000 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the chief financial officer owned 389,554 shares in the company, valued at approximately $5,099,261.86. The trade was a 16.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stefan Galluppi sold 85,000 shares of the business's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $12.38, for a total transaction of $1,052,300.00. Following the transaction, the insider owned 80,449 shares of the company's stock, valued at approximately $995,958.62. This represents a 51.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 275,000 shares of company stock worth $3,564,550 in the last ninety days. 18.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Raymond James Financial Inc. acquired a new position in LifeMD during the fourth quarter worth $473,000. Prudential Financial Inc. boosted its holdings in LifeMD by 19.3% during the fourth quarter. Prudential Financial Inc. now owns 13,605 shares of the company's stock worth $67,000 after purchasing an additional 2,200 shares during the last quarter. Geode Capital Management LLC boosted its holdings in LifeMD by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 822,217 shares of the company's stock worth $4,071,000 after purchasing an additional 2,984 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in LifeMD by 44.7% during the fourth quarter. Wells Fargo & Company MN now owns 18,732 shares of the company's stock worth $93,000 after purchasing an additional 5,791 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd boosted its holdings in LifeMD by 134.2% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 100,836 shares of the company's stock worth $499,000 after purchasing an additional 57,788 shares during the last quarter. Institutional investors and hedge funds 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.