Raymond James Financial Services Advisors Inc. Takes Position in LifeMD, Inc. (NASDAQ:LFMD)

Raymond James Financial Services Advisors Inc. purchased a new position in shares of LifeMD, Inc. (NASDAQ:LFMD) in the fourth quarter, HoldingsChannel reports. The firm purchased 20,920 shares of the company’s stock, valued at approximately $173,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LFMD. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in LifeMD in the third quarter valued at approximately $577,000. Jump Financial LLC purchased a new stake in shares of LifeMD in the 3rd quarter valued at $465,000. Citigroup Inc. acquired a new position in LifeMD during the 3rd quarter worth about $266,000. Barclays PLC purchased a new position in LifeMD during the 3rd quarter valued at about $142,000. Finally, Freedom Wealth Alliance LLC acquired a new position in LifeMD in the 3rd quarter valued at about $68,000. 35.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on LFMD shares. BTIG Research raised their price objective on shares of LifeMD from $13.00 to $14.00 and gave the company a “buy” rating in a research note on Tuesday. HC Wainwright raised their price target on shares of LifeMD from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday, January 11th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, LifeMD currently has a consensus rating of “Buy” and an average price target of $10.40.

LifeMD Stock Performance

Shares of LifeMD stock opened at $10.82 on Friday. The business has a 50-day simple moving average of $9.32 and a 200-day simple moving average of $7.72. The company has a debt-to-equity ratio of 3.22, a quick ratio of 1.15 and a current ratio of 1.22. LifeMD, Inc. has a one year low of $1.40 and a one year high of $12.01. The company has a market cap of $436.80 million, a PE ratio of -15.46 and a beta of 1.43.

LifeMD (NASDAQ:LFMD) last posted its quarterly earnings results on Monday, March 11th. The company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.02. The firm had revenue of $44.86 million for the quarter, compared to analyst estimates of $40.65 million. On average, equities research analysts forecast that LifeMD, Inc. will post -0.14 EPS for the current fiscal year.

LifeMD 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.