LifeMD, Inc. (NASDAQ:LFMD) Receives Average Recommendation of “Buy” from Brokerages

LifeMD, Inc. (NASDAQ:LFMD) has been assigned a consensus rating of “Buy” from the seven research firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $11.43.

LFMD has been the subject of a number of recent research reports. KeyCorp reduced their price objective on shares of LifeMD from $10.00 to $7.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Mizuho initiated coverage on LifeMD in a research report on Wednesday, December 4th. They issued a “neutral” rating and a $7.00 price target for the company. HC Wainwright raised their price objective on LifeMD from $12.00 to $14.00 and gave the company a “buy” rating in a research report on Wednesday. Lake Street Capital began coverage on LifeMD in a research note on Tuesday, December 10th. They issued a “buy” rating and a $12.00 target price on the stock. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $15.00 price target on shares of LifeMD in a research report on Tuesday.

LifeMD Trading Down 1.9 %

Shares of LifeMD stock opened at $5.66 on Friday. The stock’s fifty day moving average price is $5.68 and its 200-day moving average price is $5.38. The firm has a market cap of $245.15 million, a P/E ratio of -8.84 and a beta of 1.50. LifeMD has a 12 month low of $3.99 and a 12 month high of $12.88.

LifeMD (NASDAQ:LFMD) last posted its earnings results on Monday, March 10th. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.02. The business had revenue of $64.26 million for the quarter, compared to analysts’ expectations of $57.43 million. Analysts forecast that LifeMD will post -0.56 earnings per share for the current year.

Insider Buying and Selling at LifeMD

In other news, CEO Justin Schreiber sold 50,000 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $7.55, for a total transaction of $377,500.00. Following the transaction, the chief executive officer now owns 2,653,715 shares in the company, valued at $20,035,548.25. This represents a 1.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 15.97% of the stock is currently owned by company insiders.

Institutional Trading of LifeMD

A number of institutional investors have recently bought and sold shares of LFMD. State Street Corp raised its holdings in shares of LifeMD by 20.0% in the third quarter. State Street Corp now owns 1,155,495 shares of the company’s stock worth $6,055,000 after buying an additional 192,861 shares during the last quarter. Royce & Associates LP increased its position in shares of LifeMD by 23.9% in the 4th quarter. Royce & Associates LP now owns 1,115,991 shares of the company’s stock valued at $5,524,000 after acquiring an additional 214,950 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in LifeMD by 21.6% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 931,294 shares of the company’s stock worth $4,610,000 after acquiring an additional 165,378 shares during the last quarter. Millennium Management LLC lifted its position in LifeMD by 17.1% during the 4th quarter. Millennium Management LLC now owns 885,987 shares of the company’s stock worth $4,386,000 after acquiring an additional 129,327 shares during the period. Finally, Geode Capital Management LLC grew its stake in LifeMD by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 822,217 shares of the company’s stock valued at $4,071,000 after purchasing an additional 2,984 shares during the last quarter. 35.52% of the stock is currently owned by institutional investors and hedge funds.

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.