Analysts Set LifeMD, Inc. (NASDAQ:LFMD) Price Target at $12.00

Shares of LifeMD, Inc. (NASDAQ:LFMD - Get Free Report) have been assigned an average rating of "Buy" from the seven analysts that are covering the firm, Marketbeat reports. One analyst has rated the stock with a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $12.86.

LFMD has been the topic of several research reports. HC Wainwright reiterated a "buy" rating and set a $14.00 price objective on shares of LifeMD in a report on Wednesday, April 30th. BTIG Research upped their price objective on shares of LifeMD from $15.00 to $18.00 and gave the company a "buy" rating in a report on Wednesday, June 18th. Finally, Lake Street Capital set a $18.00 target price on shares of LifeMD and gave the stock a "buy" rating in a report on Thursday.

Insider Buying and Selling at LifeMD

In related news, CFO Marc David Benathen sold 50,000 shares of the company's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $14.01, for a total value of $700,500.00. Following 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Justin Schreiber sold 25,000 shares of the company'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 completion of the sale, the chief executive officer owned 2,500,721 shares in the company, valued at $33,459,646.98. This represents a 0.99% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 346,995 shares of company stock worth $4,119,172. 18.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On LifeMD

A number of institutional investors have recently added to or reduced their stakes in the company. Royce & Associates LP grew its position in LifeMD by 3.5% in the 1st quarter. Royce & Associates LP now owns 1,155,231 shares of the company's stock worth $6,284,000 after purchasing an additional 39,240 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in LifeMD by 5.4% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 981,894 shares of the company's stock worth $5,342,000 after purchasing an additional 50,600 shares in the last quarter. Millennium Management LLC grew its position in LifeMD by 17.1% in the 4th quarter. Millennium Management LLC now owns 885,987 shares of the company's stock worth $4,386,000 after purchasing an additional 129,327 shares in the last quarter. Geode Capital Management LLC grew its position in LifeMD by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 822,217 shares of the company's stock worth $4,071,000 after purchasing an additional 2,984 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position 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.

LifeMD Trading Down 5.9%

LFMD stock traded down $0.70 during midday trading on Thursday, hitting $11.26. The stock had a trading volume of 882,139 shares, compared to its average volume of 1,085,657. The firm has a market cap of $511.74 million, a P/E ratio of -33.12 and a beta of 2.40. LifeMD has a 1-year low of $3.99 and a 1-year high of $15.84. The business has a fifty day moving average price of $11.79 and a two-hundred day moving average price of $7.79.

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