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

Shares of LifeMD, Inc. (NASDAQ:LFMD - Get Free Report) have been given an average rating of "Buy" by the seven brokerages that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $12.00.

LFMD has been the subject of several analyst reports. BTIG Research raised their target price on shares of LifeMD from $15.00 to $18.00 and gave the company a "buy" rating in a research note on Wednesday, June 18th. HC Wainwright reaffirmed a "buy" rating and set a $14.00 price objective on shares of LifeMD in a research report on Wednesday, April 30th.

LifeMD Trading Down 1.6%

LifeMD stock opened at $11.78 on Thursday. The company has a market cap of $535.40 million, a PE ratio of -34.65 and a beta of 2.40. The company's 50-day moving average is $11.62 and its two-hundred day moving average is $7.68. LifeMD has a 1 year low of $3.99 and a 1 year high of $15.84.

LifeMD (NASDAQ:LFMD - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.01 earnings per share for the quarter, beating analysts' consensus estimates 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. Research analysts forecast that LifeMD will post -0.56 EPS for the current year.

Insider Buying and Selling

In other LifeMD news, insider Eric Harold Yecies sold 15,000 shares of LifeMD stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $12.25, for a total value of $183,750.00. Following the transaction, the insider owned 16,100 shares in the company, valued at $197,225. The trade was a 48.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Justin Schreiber sold 50,000 shares of LifeMD stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $7.78, for a total value of $389,000.00. Following the completion of the transaction, the chief executive officer owned 2,575,721 shares in the company, valued at approximately $20,039,109.38. This represents a 1.90% decrease in their position. The disclosure for this sale can be found here. Insiders sold 346,995 shares of company stock worth $4,119,172 in the last ninety days. 18.40% of the stock is owned by company insiders.

Institutional Trading of LifeMD

Hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC bought a new stake in shares of LifeMD during the first quarter worth about $35,000. CWM LLC raised its position in shares of LifeMD by 17.5% during the first quarter. CWM LLC now owns 9,050 shares of the company's stock worth $49,000 after purchasing an additional 1,351 shares during the period. ProShare Advisors LLC acquired a new position in shares of LifeMD during the fourth quarter worth approximately $51,000. Balyasny Asset Management L.P. purchased a new stake in LifeMD in the 4th quarter valued at $52,000. Finally, Oxford Asset Management LLP purchased a new stake in LifeMD in the 4th quarter valued at $52,000. 35.52% of the stock is currently owned by 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.