Brokerages Set LifeMD, Inc. (NASDAQ:LFMD) PT at $13.86

Key Points

• LifeMD, Inc. (NASDAQ:LFMD) has received an average recommendation of "Buy" from seven brokerages, with one analyst rating it a hold and one issuing a strong buy recommendation.
• The average 12-month target price for LifeMD among analysts is $13.86, with notable price target increases from several firms, including Lake Street Capital raising it to $18.00.
• Insider trading shows significant activity, including a 51.38% reduction in ownership by insider Stefan Galluppi, who sold 85,000 shares at an average price of $12.38.

Shares of LifeMD, Inc. (NASDAQ:LFMD - Get Free Report) have been given an average recommendation of "Buy" by the seven analysts that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $13.8571.

LFMD has been the topic of several analyst reports. 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. Wall Street Zen cut LifeMD from a "buy" rating to a "hold" rating in a report on Saturday. Lake Street Capital increased their target price on LifeMD from $12.00 to $18.00 and gave the company a "buy" rating in a report on Thursday, July 10th. KeyCorp upped their price objective on shares of LifeMD from $12.00 to $14.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. Finally, HC Wainwright reissued a "buy" rating and issued a $14.00 price objective on shares of LifeMD in a research report on Wednesday, April 30th.

LifeMD Stock Down 4.1%

Shares of LifeMD stock traded down $0.51 on Monday, reaching $11.84. The company's stock had a trading volume of 4,113,075 shares, compared to its average volume of 1,151,224. The company has a market capitalization of $538.13 million, a price-to-earnings ratio of -34.82 and a beta of 1.72. LifeMD has a 52 week low of $3.99 and a 52 week high of $15.84. The firm's fifty day simple moving average is $12.16 and its two-hundred day simple moving average is $8.44.

LifeMD (NASDAQ:LFMD - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.04). As a group, research analysts predict that LifeMD will post -0.56 EPS for the current year.

Insider Buying and Selling at LifeMD

In related news, CFO Marc David Benathen sold 50,000 shares of LifeMD stock in a transaction dated Tuesday, June 17th. The stock was 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 approximately $4,757,151.54. This trade represents a 12.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Justin Schreiber sold 25,000 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $13.38, for a total transaction of $334,500.00. Following the sale, the chief executive officer directly owned 2,500,721 shares in the company, valued at $33,459,646.98. This represents a 0.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 275,000 shares of company stock valued at $3,564,550 over the last 90 days. 18.40% of the stock is currently owned by corporate insiders.

Institutional Trading of LifeMD

A number of hedge funds have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of LifeMD during the fourth quarter valued at approximately $56,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in LifeMD by 17.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,412 shares of the company's stock worth $235,000 after purchasing an additional 7,001 shares in the last quarter. Northern Trust Corp boosted its position in shares of LifeMD by 2.1% during the 4th quarter. Northern Trust Corp now owns 323,974 shares of the company's stock valued at $1,604,000 after purchasing an additional 6,634 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of LifeMD by 26.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,012 shares of the company's stock valued at $70,000 after acquiring an additional 2,895 shares during the period. Finally, BNP Paribas Financial Markets acquired a new stake in shares of LifeMD during the fourth quarter worth approximately $279,000. 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.