LifeMD (NASDAQ:LFMD) Stock Price Expected to Rise, KeyCorp Analyst Says

LifeMD (NASDAQ:LFMD - Free Report) had its target price upped by KeyCorp from $12.00 to $14.00 in a report released on Monday morning,Benzinga reports. KeyCorp currently has an overweight rating on the stock.

Other research analysts also recently issued reports about the company. HC Wainwright reiterated a "buy" rating and set a $14.00 target price on shares of LifeMD in a research report on Wednesday, April 30th. BTIG Research boosted their target price on LifeMD from $15.00 to $18.00 and gave the company a "buy" rating in a research report on Wednesday, June 18th. Finally, Lake Street Capital set a $18.00 target price on LifeMD and gave the stock a "buy" rating in a research note on Thursday, July 10th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $13.86.

LifeMD Stock Down 1.2%

NASDAQ:LFMD traded down $0.14 during trading hours on Monday, hitting $11.18. 395,439 shares of the stock traded hands, compared to its average volume of 1,084,923. The company has a market cap of $508.11 million, a price-to-earnings ratio of -32.80 and a beta of 2.40. LifeMD has a 1 year low of $3.99 and a 1 year high of $15.84. The stock has a 50 day moving average price of $11.99 and a 200 day moving average price of $7.89.

LifeMD (NASDAQ:LFMD - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.05. The business had revenue of $65.70 million during the quarter, compared to analysts' expectations of $62.47 million. Equities analysts forecast that LifeMD will post -0.56 earnings per share for the current fiscal year.

Insider Transactions at LifeMD

In related news, insider Eric Harold Yecies sold 15,000 shares of the firm's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $12.25, for a total transaction of $183,750.00. Following the sale, the insider owned 16,100 shares of the company's stock, valued at $197,225. This trade represents a 48.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Marc David Benathen sold 50,000 shares of the firm's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $14.01, for a total transaction of $700,500.00. Following the completion of the sale, the chief financial officer owned 339,554 shares in the company, valued at $4,757,151.54. This represents a 12.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 346,995 shares of company stock valued at $4,119,172. Company insiders own 18.40% of the company's stock.

Hedge Funds Weigh In On LifeMD

Large investors have recently made changes to their positions in the business. Marshall Wace LLP grew its stake in LifeMD by 522.9% during the 4th quarter. Marshall Wace LLP now owns 371,473 shares of the company's stock worth $1,839,000 after buying an additional 311,841 shares during the last quarter. Nuveen LLC acquired a new stake in LifeMD in the first quarter worth about $1,545,000. Royce & Associates LP increased its holdings in shares of LifeMD by 23.9% during the fourth 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 in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of LifeMD by 21.6% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 931,294 shares of the company's stock valued at $4,610,000 after purchasing an additional 165,378 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in LifeMD by 45.2% in the 4th quarter. Renaissance Technologies LLC now owns 510,000 shares of the company's stock worth $2,524,000 after purchasing an additional 158,796 shares in the last quarter. 35.52% of the stock is owned by institutional investors and hedge funds.

LifeMD Company 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.