LifeMD, Inc. (NASDAQ:LFMD) Receives Average Rating of "Buy" from Analysts

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

LFMD has been the subject of a number of research analyst reports. HC Wainwright reissued a "buy" rating and set a $14.00 target price on shares of LifeMD in a report on Wednesday, April 30th. Cantor Fitzgerald reissued an "overweight" rating and issued a $15.00 price objective on shares of LifeMD in a research note on Tuesday, March 11th. Finally, B. Riley upgraded LifeMD to a "strong-buy" rating in a report on Tuesday, March 11th.

LifeMD Trading Up 0.3%

LFMD traded up $0.03 during midday trading on Wednesday, hitting $11.53. 1,345,122 shares of the company traded hands, compared to its average volume of 974,988. The business has a 50 day simple moving average of $6.95 and a two-hundred day simple moving average of $6.14. LifeMD has a 52-week low of $3.99 and a 52-week high of $11.65. The company has a market capitalization of $524.02 million, a price-to-earnings ratio of -18.02 and a beta of 2.22.

LifeMD (NASDAQ:LFMD - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.05. The company had revenue of $65.70 million for the quarter, compared to analyst estimates of $62.47 million. Equities research analysts anticipate that LifeMD will post -0.56 earnings per share for the current year.

Insiders Place Their Bets

In related news, CMO Jessica Friedeman sold 30,000 shares of the company's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $5.66, for a total value of $169,800.00. Following the completion of the sale, the chief marketing officer now owns 170,000 shares of the company's stock, valued at approximately $962,200. This represents a 15.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Justin Schreiber sold 21,995 shares of LifeMD stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $7.53, for a total transaction of $165,622.35. Following the transaction, the chief executive officer now directly owns 2,553,726 shares in the company, valued at $19,229,556.78. This trade represents a 0.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 101,995 shares of company stock valued at $724,422 in the last three months. 15.97% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Marshall Wace LLP raised its position in LifeMD by 522.9% in the fourth quarter. Marshall Wace LLP now owns 371,473 shares of the company's stock valued at $1,839,000 after purchasing an additional 311,841 shares during the period. Nuveen LLC acquired a new stake in shares of LifeMD during the 1st quarter worth about $1,545,000. Royce & Associates LP increased its position in shares of LifeMD by 23.9% during the 4th quarter. Royce & Associates LP now owns 1,115,991 shares of the company's stock worth $5,524,000 after purchasing an additional 214,950 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings 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 valued at $4,610,000 after buying an additional 165,378 shares during the period. Finally, Renaissance Technologies LLC lifted its position in LifeMD by 45.2% in the fourth quarter. Renaissance Technologies LLC now owns 510,000 shares of the company's stock valued at $2,524,000 after buying an additional 158,796 shares during the last quarter. 35.52% of the stock is currently 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.