LifeMD, Inc. (NASDAQ:LFMD) Given Average Recommendation of "Buy" by Brokerages

LifeMD, Inc. (NASDAQ:LFMD - Get Free Report) has been assigned a consensus rating of "Buy" from the six ratings firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $11.00.

LFMD has been the topic of a number of research analyst reports. KeyCorp dropped their target price on shares of LifeMD from $10.00 to $7.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 8th. HC Wainwright reiterated a "buy" rating and issued a $14.00 price objective on shares of LifeMD in a research note on Wednesday. B. Riley upgraded shares of LifeMD to a "strong-buy" rating in a research report on Tuesday, March 11th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $15.00 target price on shares of LifeMD in a report on Tuesday, March 11th.

Insider Buying and Selling at LifeMD

In related news, CEO Justin Schreiber sold 50,000 shares of the 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 completion of the sale, the chief executive officer now owns 2,653,715 shares in the company, valued at $20,035,548.25. This trade represents a 1.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CMO Jessica Friedeman sold 30,000 shares of LifeMD stock in a transaction on Friday, March 14th. The stock was sold at an average price of $5.66, for a total transaction of $169,800.00. Following the transaction, the chief marketing officer now directly owns 170,000 shares in the company, valued at approximately $962,200. This represents a 15.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.97% of the stock is owned by corporate insiders.

Institutional Trading of LifeMD

Several institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC bought a new stake in shares of LifeMD during the first quarter worth $35,000. ProShare Advisors LLC bought a new position in shares of LifeMD in the fourth quarter valued at $51,000. Oxford Asset Management LLP bought a new stake in shares of LifeMD in the 4th quarter worth $52,000. Balyasny Asset Management L.P. purchased a new position in LifeMD in the fourth quarter valued at about $52,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in LifeMD in the 4th quarter worth approximately $56,000. 35.52% of the stock is currently owned by institutional investors.

LifeMD Stock Performance

NASDAQ LFMD traded up $0.09 during trading hours on Friday, reaching $7.45. 709,132 shares of the company's stock were exchanged, compared to its average volume of 909,985. The company's 50-day moving average is $5.48 and its two-hundred day moving average is $5.53. LifeMD has a one year low of $3.99 and a one year high of $12.88. The company has a market capitalization of $331.97 million, a price-to-earnings ratio of -11.69 and a beta of 2.22.

LifeMD (NASDAQ:LFMD - Get Free Report) last issued its quarterly earnings data on Monday, March 10th. The company reported ($0.02) EPS for the quarter, beating analysts' consensus estimates of ($0.04) by $0.02. The firm had revenue of $64.26 million during the quarter, compared to analyst estimates of $57.43 million. Research analysts predict that LifeMD will post -0.56 earnings per share for the current fiscal year.

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.