LifeMD (NASDAQ:LFMD) Reaches New 1-Year High - Should You Buy?

LifeMD, Inc. (NASDAQ:LFMD - Get Free Report)'s share price reached a new 52-week high on Monday . The stock traded as high as $13.46 and last traded at $13.13, with a volume of 650518 shares changing hands. The stock had previously closed at $12.46.

Wall Street Analyst Weigh In

Several brokerages have recently commented on LFMD. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $15.00 target price on shares of LifeMD in a report on Tuesday, March 11th. HC Wainwright reaffirmed a "buy" rating and set a $14.00 target price on shares of LifeMD in a report on Wednesday, April 30th. B. Riley raised shares of LifeMD to a "strong-buy" rating in a report on Tuesday, March 11th. Finally, BTIG Research raised their target price on shares of LifeMD from $15.00 to $18.00 and gave the stock a "buy" rating in a report on Wednesday. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, LifeMD presently has an average rating of "Buy" and an average price target of $12.00.

LifeMD Trading Up 10.9%

The firm has a market cap of $684.48 million, a price-to-earnings ratio of -44.29 and a beta of 2.42. The company's 50-day moving average is $9.38 and its 200-day moving average is $6.89.

LifeMD (NASDAQ:LFMD - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $65.70 million for the quarter, compared to analyst estimates of $62.47 million. Equities research analysts forecast that LifeMD, Inc. will post -0.56 EPS for the current year.

Insider Buying and Selling

In other LifeMD news, insider Stefan Galluppi sold 85,000 shares of the firm's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $12.38, for a total value of $1,052,300.00. Following the sale, the insider now owns 80,449 shares in the company, valued at $995,958.62. This trade represents a 51.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Eric Harold Yecies sold 15,000 shares of the firm's stock in a transaction that occurred on 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 in the company, valued at $197,225. This represents a 48.23% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 321,995 shares of company stock worth $3,784,672. Corporate insiders own 18.40% of the company's stock.

Institutional Trading of LifeMD

A number of hedge funds have recently added to or reduced their stakes in LFMD. GAMMA Investing LLC acquired a new stake in LifeMD in the first quarter valued at approximately $35,000. CWM LLC boosted its position in LifeMD by 17.5% in the first quarter. CWM LLC now owns 9,050 shares of the company's stock valued at $49,000 after buying an additional 1,351 shares in the last quarter. ProShare Advisors LLC acquired a new position in shares of LifeMD during the fourth quarter worth $51,000. Oxford Asset Management LLP acquired a new position in shares of LifeMD during the fourth quarter worth $52,000. Finally, Balyasny Asset Management L.P. acquired a new position in shares of LifeMD during the fourth quarter worth $52,000. Institutional investors and hedge funds 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.