KeyCorp Has Lowered Expectations for LifeMD (NASDAQ:LFMD) Stock Price

LifeMD (NASDAQ:LFMD - Free Report) had its price objective trimmed by KeyCorp from $10.00 to $7.00 in a research report report published on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

LFMD has been the subject of a number of other research reports. Mizuho began coverage on LifeMD in a research note on Wednesday, December 4th. They set a "neutral" rating and a $7.00 price objective for the company. HC Wainwright restated a "buy" rating and issued a $12.00 price target on shares of LifeMD in a research note on Monday, November 11th. Cantor Fitzgerald reiterated an "overweight" rating and set a $15.00 price objective on shares of LifeMD in a research note on Friday, September 20th. Finally, Lake Street Capital started coverage on shares of LifeMD in a research report on Tuesday, December 10th. They issued a "buy" rating and a $12.00 target price for the company. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $11.14.

LifeMD Stock Down 7.9 %

LFMD stock traded down $0.44 during trading on Wednesday, reaching $5.10. The stock had a trading volume of 564,715 shares, compared to its average volume of 725,763. The company has a current ratio of 0.83, a quick ratio of 0.78 and a debt-to-equity ratio of 10.83. The firm has a fifty day moving average price of $5.57 and a 200 day moving average price of $5.55. The company has a market capitalization of $220.89 million, a P/E ratio of -7.97 and a beta of 1.49. LifeMD has a 1-year low of $3.99 and a 1-year high of $12.88.

Insider Activity

In related news, CEO Justin Schreiber sold 25,000 shares of the business's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $5.19, for a total transaction of $129,750.00. Following the completion of the transaction, the chief executive officer now owns 2,703,715 shares in the company, valued at $14,032,280.85. The trade was a 0.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 15.97% of the company's stock.

Hedge Funds Weigh In On LifeMD

Several hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp lifted its position in LifeMD by 63.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 234,583 shares of the company's stock valued at $1,609,000 after purchasing an additional 91,183 shares during the last quarter. Rhumbline Advisers acquired a new position in shares of LifeMD during the second quarter worth approximately $326,000. Los Angeles Capital Management LLC bought a new position in LifeMD in the 2nd quarter worth approximately $88,000. Quest Partners LLC bought a new position in LifeMD in the 2nd quarter worth approximately $31,000. Finally, ClariVest Asset Management LLC increased its position in LifeMD by 2.9% in the 2nd quarter. ClariVest Asset Management LLC now owns 91,967 shares of the company's stock valued at $631,000 after acquiring an additional 2,600 shares during the period. 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.