LifeMD (NASDAQ:LFMD) Sets New 52-Week High - Still a Buy?

Shares of LifeMD, Inc. (NASDAQ:LFMD - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $15.84 and last traded at $14.96, with a volume of 297246 shares. The stock had previously closed at $14.76.

Analysts Set New Price Targets

A number of research analysts have recently commented on LFMD shares. Cantor Fitzgerald reiterated an "overweight" rating and set a $15.00 target price on shares of LifeMD in a research report on Tuesday, March 11th. BTIG Research boosted their price target on LifeMD from $15.00 to $18.00 and gave the stock a "buy" rating in a research report on Wednesday, June 18th. B. Riley upgraded LifeMD to a "strong-buy" rating in a research note on Tuesday, March 11th. Finally, HC Wainwright reiterated a "buy" rating and set a $14.00 price objective on shares of LifeMD in a research note on Wednesday, April 30th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $12.00.

LifeMD Stock Down 3.1%

The stock has a fifty day moving average of $9.78 and a 200-day moving average of $7.03. The stock has a market capitalization of $649.94 million, a price-to-earnings ratio of -42.06 and a beta of 2.42.

LifeMD (NASDAQ:LFMD - Get Free Report) last posted its quarterly earnings data 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. On average, equities analysts forecast that LifeMD, Inc. will post -0.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Justin Schreiber sold 21,995 shares of LifeMD stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $7.53, for a total value of $165,622.35. Following the sale, the chief executive officer now owns 2,553,726 shares of the company's stock, valued at $19,229,556.78. The trade was a 0.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Eric Harold Yecies sold 15,000 shares of the firm's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $12.25, for a total transaction of $183,750.00. Following the completion of the sale, the insider now owns 16,100 shares of the company's stock, valued at approximately $197,225. The trade was a 48.23% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 321,995 shares of company stock valued at $3,784,672. Insiders own 18.40% of the company's stock.

Hedge Funds Weigh In On LifeMD

Large investors have recently made changes to their positions in the stock. GAMMA Investing LLC purchased a new position in LifeMD in the first quarter valued at about $35,000. CWM LLC increased its holdings 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 acquiring an additional 1,351 shares in the last quarter. ProShare Advisors LLC purchased a new stake in shares of LifeMD in the fourth quarter valued at about $51,000. Oxford Asset Management LLP acquired a new stake in shares of LifeMD in the fourth quarter valued at approximately $52,000. Finally, Balyasny Asset Management L.P. purchased a new position in shares of LifeMD during the 4th quarter worth approximately $52,000. Hedge funds and other institutional investors own 35.52% of the company's stock.

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.