LifeMD, Inc. (NASDAQ:LFMD) Receives $13.17 Average Price Target from Brokerages

Key Points

• LifeMD, Inc. has received a consensus recommendation of "Buy" from seven ratings firms, with an average 1-year target price of approximately $13.17.
• The CFO and CEO recently sold shares of the company, with the CFO selling 75,000 shares for nearly $982,000, diminishing his ownership by 16.14%.
• Institutional investors have increased their stakes in LifeMD, with Royce & Associates LP raising its stake by 3.5%, signaling growing confidence in the company.

Shares of LifeMD, Inc. (NASDAQ:LFMD - Get Free Report) have been given an average rating of "Buy" by the seven analysts that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $13.1667.

A number of research analysts have recently issued reports on LFMD shares. HC Wainwright reduced their price objective on shares of LifeMD from $14.00 to $13.00 and set a "buy" rating for the company in a report on Thursday, August 7th. Lake Street Capital reduced their price objective on shares of LifeMD from $18.00 to $14.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. KeyCorp cut their price target on shares of LifeMD from $14.00 to $12.00 and set an "overweight" rating on the stock in a report on Wednesday, August 6th. BTIG Research boosted their price target on shares of LifeMD from $15.00 to $18.00 and gave the stock a "buy" rating in a report on Wednesday, June 18th. Finally, Wall Street Zen cut shares of LifeMD from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd.

LifeMD Stock Down 4.2%

Shares of NASDAQ LFMD traded down $0.27 during mid-day trading on Friday, reaching $6.19. 1,053,488 shares of the company's stock traded hands, compared to its average volume of 2,855,993. The stock has a market cap of $293.53 million, a P/E ratio of -29.48 and a beta of 1.72. The business has a 50-day simple moving average of $9.86 and a 200 day simple moving average of $8.54. LifeMD has a 1-year low of $3.99 and a 1-year high of $15.84. The company has a debt-to-equity ratio of 9.21, a current ratio of 0.77 and a quick ratio of 0.72.

Insider Activity

In related news, CEO Justin Schreiber sold 25,000 shares of the business's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $13.38, for a total transaction of $334,500.00. Following the transaction, the chief executive officer directly owned 2,500,721 shares in the company, valued at approximately $33,459,646.98. The trade was a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stefan Galluppi sold 85,000 shares of the business's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $12.38, for a total transaction of $1,052,300.00. Following the transaction, the insider owned 80,449 shares in the company, valued at approximately $995,958.62. This trade represents a 51.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 275,000 shares of company stock valued at $3,564,550 in the last three months. 18.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN raised its position in LifeMD by 44.7% in the fourth quarter. Wells Fargo & Company MN now owns 18,732 shares of the company's stock worth $93,000 after acquiring an additional 5,791 shares during the period. Raymond James Financial Inc. bought a new stake in LifeMD in the fourth quarter worth about $473,000. Barclays PLC raised its position in LifeMD by 15.8% in the fourth quarter. Barclays PLC now owns 56,773 shares of the company's stock worth $281,000 after acquiring an additional 7,756 shares during the period. Mariner LLC bought a new stake in LifeMD in the fourth quarter worth about $67,000. Finally, Price T Rowe Associates Inc. MD raised its position in LifeMD by 26.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,012 shares of the company's stock worth $70,000 after acquiring an additional 2,895 shares during the period. 35.52% of the stock is currently owned by hedge funds and other institutional investors.

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.