Renaissance Technologies LLC reduced its stake in shares of LifeMD, Inc. (NASDAQ:LFMD – Free Report) by 25.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,118,325 shares of the company’s stock after selling 380,000 shares during the quarter. Renaissance Technologies LLC’s holdings in LifeMD were worth $4,037,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd acquired a new stake in shares of LifeMD in the fourth quarter valued at $36,000. R Squared Ltd acquired a new position in shares of LifeMD in the 1st quarter worth $41,000. Jain Global LLC acquired a new stake in shares of LifeMD during the fourth quarter worth $45,000. Quarry LP acquired a new stake in shares of LifeMD during the third quarter worth $52,000. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of LifeMD by 110.4% during the second 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 last quarter. 35.52% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research firms recently weighed in on LFMD. BTIG Research decreased their price target on LifeMD from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Thursday. Lake Street Capital set a $5.00 price objective on shares of LifeMD in a research note on Thursday. Mizuho set a $7.00 target price on shares of LifeMD in a report on Thursday. Wall Street Zen downgraded shares of LifeMD from a “hold” rating to a “sell” rating in a research report on Saturday, July 18th. Finally, UBS Group restated a “buy” rating on shares of LifeMD in a report on Wednesday, May 27th. Eight analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $7.57.
LifeMD Stock Up 4.7%
Shares of NASDAQ:LFMD opened at $3.56 on Friday. The firm has a fifty day moving average of $4.39 and a two-hundred day moving average of $3.97. LifeMD, Inc. has a 12-month low of $2.56 and a 12-month high of $7.32. The firm has a market capitalization of $171.59 million, a P/E ratio of -71.19 and a beta of 2.02.
LifeMD (NASDAQ:LFMD – Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). LifeMD had a negative return on equity of 150.35% and a net margin of 0.10%.The company had revenue of $47.28 million during the quarter, compared to analyst estimates of $49.16 million. Equities research analysts expect that LifeMD, Inc. will post -0.37 earnings per share for the current fiscal year.
About LifeMD
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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