Weiss Ratings Reiterates "Sell (D-)" Rating for LifeMD (NASDAQ:LFMD)

Key Points

• Weiss Ratings has reiterated a "Sell (D-)" rating for LifeMD (NASDAQ:LFMD), signaling ongoing concerns about the company's financial health.
• LifeMD's stock has seen various adjustments in price targets from multiple analysts, with a consensus rating of "Moderate Buy" and a target price of $13.17.
• Recently, insider Nicholas P. Alvarez sold 75,000 shares for approximately $444,000, indicating a significant decrease in ownership, which could raise concerns among investors.

LifeMD (NASDAQ:LFMD - Get Free Report)'s stock had its "sell (d-)" rating reissued by equities research analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Several other equities analysts have also issued reports on the company. KeyCorp lowered their price target on LifeMD from $14.00 to $12.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 6th. HC Wainwright cut their price objective on LifeMD from $14.00 to $13.00 and set a "buy" rating for the company in a report on Thursday, August 7th. Lake Street Capital cut their price target on LifeMD from $18.00 to $14.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. Wall Street Zen cut LifeMD from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, Zacks Research raised LifeMD from a "strong sell" rating to a "hold" rating in a report on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $13.17.

LifeMD Trading Up 0.2%

NASDAQ:LFMD opened at $6.64 on Wednesday. The stock's 50 day moving average price is $6.77 and its 200 day moving average price is $8.62. LifeMD has a 52 week low of $3.99 and a 52 week high of $15.84. The company has a market capitalization of $314.87 million, a P/E ratio of -31.62 and a beta of 1.67. The company has a debt-to-equity ratio of 9.21, a quick ratio of 0.72 and a current ratio of 0.77.

Insiders Place Their Bets

In other LifeMD news, insider Nicholas P. Alvarez sold 75,000 shares of the stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $5.92, for a total value of $444,000.00. Following the completion of the transaction, the insider directly owned 605,000 shares in the company, valued at approximately $3,581,600. This trade represents a 11.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 18.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On LifeMD

A number of hedge funds have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC boosted its position in shares of LifeMD by 148.5% during the second quarter. Nisa Investment Advisors LLC now owns 3,656 shares of the company's stock valued at $50,000 after buying an additional 2,185 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of LifeMD by 110.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,674 shares of the company's stock valued at $64,000 after purchasing an additional 2,452 shares during the period. Caitong International Asset Management Co. Ltd boosted its holdings in shares of LifeMD by 1,004.9% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 5,171 shares of the company's stock worth $70,000 after purchasing an additional 4,703 shares in the last quarter. GAMMA Investing LLC purchased a new position in shares of LifeMD in the 1st quarter worth about $35,000. Finally, CWM LLC lifted its stake in shares of LifeMD by 17.5% in the 1st quarter. CWM LLC now owns 9,050 shares of the company's stock valued at $49,000 after acquiring an additional 1,351 shares during the last quarter. Institutional investors and hedge funds own 35.52% of the company's stock.

About LifeMD

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.

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