LifeMD (NASDAQ:LFMD) Hits New 12-Month High - Time to Buy?

LifeMD, Inc. (NASDAQ:LFMD - Get Free Report) shares hit a new 52-week high during trading on Monday . The stock traded as high as $13.46 and last traded at $13.13, with a volume of 650518 shares traded. The stock had previously closed at $12.46.

Analyst Ratings Changes

Several brokerages recently issued reports on LFMD. HC Wainwright reissued a "buy" rating and set a $14.00 price target on shares of LifeMD in a research report on Wednesday, April 30th. B. Riley upgraded LifeMD to a "strong-buy" rating in a research report on Tuesday, March 11th. Cantor Fitzgerald reissued an "overweight" rating and set a $15.00 target price on shares of LifeMD in a report on Tuesday, March 11th. Finally, BTIG Research boosted their price target on LifeMD from $15.00 to $18.00 and gave the company a "buy" rating in a research note on Wednesday. One equities 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. According to MarketBeat, LifeMD currently has a consensus rating of "Buy" and an average target price of $12.00.

LifeMD Stock Performance

The stock has a fifty day simple moving average of $9.58 and a two-hundred day simple moving average of $6.95. The stock has a market cap of $684.48 million, a price-to-earnings ratio of -44.29 and a beta of 2.42.

LifeMD (NASDAQ:LFMD - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.05. The business had revenue of $65.70 million for the quarter, compared to the consensus estimate of $62.47 million. Equities analysts expect that LifeMD, Inc. will post -0.56 earnings per share for the current fiscal year.

Insider Activity at LifeMD

In other news, CEO Justin Schreiber sold 21,995 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $7.53, for a total value of $165,622.35. Following the completion of the transaction, the chief executive officer now directly owns 2,553,726 shares in the company, valued at approximately $19,229,556.78. This represents a 0.85% decrease in their position. 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 on Friday, June 13th. The shares were sold at an average price of $12.25, for a total value of $183,750.00. Following the sale, the insider now directly owns 16,100 shares in the company, valued at approximately $197,225. This trade represents 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. 18.40% of the stock is owned by insiders.

Hedge Funds Weigh In On LifeMD

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Rhumbline Advisers boosted its stake in shares of LifeMD by 6.1% during the fourth quarter. Rhumbline Advisers now owns 48,689 shares of the company's stock valued at $241,000 after purchasing an additional 2,814 shares in the last quarter. Los Angeles Capital Management LLC raised its holdings in LifeMD by 4.8% in the 4th quarter. Los Angeles Capital Management LLC now owns 127,435 shares of the company's stock valued at $631,000 after buying an additional 5,850 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in LifeMD by 5.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 108,478 shares of the company's stock valued at $537,000 after buying an additional 6,034 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in LifeMD during the 4th quarter worth approximately $473,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in LifeMD by 21.6% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 931,294 shares of the company's stock worth $4,610,000 after acquiring an additional 165,378 shares during the last quarter. 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.