LifeMD (NASDAQ:LFMD) Sets New 52-Week High - Here's What Happened

LifeMD, Inc. (NASDAQ:LFMD - Get Free Report)'s share price 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.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Cantor Fitzgerald reissued an "overweight" rating and set a $15.00 price target on shares of LifeMD in a report on Tuesday, March 11th. B. Riley upgraded LifeMD to a "strong-buy" rating in a research report on Tuesday, March 11th. HC Wainwright reissued a "buy" rating and issued a $14.00 price target on shares of LifeMD in a report on Wednesday, April 30th. Finally, BTIG Research upped their price objective on LifeMD from $15.00 to $18.00 and gave the stock a "buy" rating in a report on Wednesday, June 18th. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $12.00.

LifeMD Price Performance

The company has a market capitalization of $615.39 million, a PE ratio of -39.82 and a beta of 2.42. The stock has a 50-day simple moving average of $10.29 and a 200 day simple moving average of $7.17.

LifeMD (NASDAQ:LFMD - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.01 earnings per share (EPS) 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. As a group, research analysts predict that LifeMD, Inc. will post -0.56 EPS for the current fiscal year.

Insider Buying and Selling

In other LifeMD news, insider Stefan Galluppi sold 85,000 shares of the firm's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $12.38, for a total transaction of $1,052,300.00. Following the sale, the insider now directly owns 80,449 shares of the company's stock, valued at $995,958.62. This trade represents a 51.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Marc David Benathen sold 50,000 shares of the business's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $14.01, for a total transaction of $700,500.00. Following the completion of the transaction, the chief financial officer now directly owns 339,554 shares of the company's stock, valued at approximately $4,757,151.54. This represents a 12.84% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 321,995 shares of company stock worth $3,784,672. 18.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in LFMD. Royce & Associates LP increased its stake in LifeMD by 3.5% in the first quarter. Royce & Associates LP now owns 1,155,231 shares of the company's stock valued at $6,284,000 after purchasing an additional 39,240 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of LifeMD by 5.4% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 981,894 shares of the company's stock valued at $5,342,000 after purchasing an additional 50,600 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of LifeMD by 17.1% in the 4th quarter. Millennium Management LLC now owns 885,987 shares of the company's stock valued at $4,386,000 after purchasing an additional 129,327 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of LifeMD by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 822,217 shares of the company's stock valued at $4,071,000 after buying an additional 2,984 shares during the period. Finally, Renaissance Technologies LLC raised its position in shares of 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 buying an additional 158,796 shares during the period. Hedge funds and other institutional investors own 35.52% of the company's stock.

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.