LifeMD (NASDAQ:LFMD) Sets New 12-Month High - Still a Buy?

LifeMD, Inc. (NASDAQ:LFMD - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $12.39 and last traded at $12.20, with a volume of 236903 shares. The stock had previously closed at $12.21.

Wall Street Analysts Forecast Growth

LFMD has been the subject of several research analyst reports. HC Wainwright restated a "buy" rating and set a $14.00 price target on shares of LifeMD in a research report on Wednesday, April 30th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $15.00 price objective on shares of LifeMD in a research report on Tuesday, March 11th. Finally, B. Riley raised LifeMD to a "strong-buy" rating in a report on Tuesday, March 11th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, LifeMD currently has a consensus rating of "Buy" and an average price target of $11.00.

LifeMD Stock Performance

The business's 50-day moving average is $7.97 and its two-hundred day moving average is $6.46. The stock has a market capitalization of $579.87 million, a PE ratio of -19.94 and a beta of 2.42.

LifeMD (NASDAQ:LFMD - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.01 earnings per share 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. Equities analysts forecast that LifeMD, Inc. will post -0.56 EPS for the current year.

Insider Activity

In other news, CMO Jessica Friedeman sold 30,000 shares of the firm's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $5.66, for a total value of $169,800.00. Following the transaction, the chief marketing officer now directly owns 170,000 shares in the company, valued at $962,200. This trade represents a 15.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Justin Schreiber sold 25,000 shares of the business's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $12.47, for a total transaction of $311,750.00. Following the transaction, the chief executive officer now directly owns 2,525,721 shares in the company, valued at approximately $31,495,740.87. The trade was a 0.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 126,995 shares of company stock valued at $1,036,172 in the last 90 days. 18.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On LifeMD

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

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.