LifeMD (NASDAQ:LFMD) Shares Gap Up After Analyst Upgrade

LifeMD, Inc. (NASDAQ:LFMD - Get Free Report) gapped up prior to trading on Wednesday after BTIG Research raised their price target on the stock from $15.00 to $18.00. The stock had previously closed at $13.58, but opened at $14.01. BTIG Research currently has a buy rating on the stock. LifeMD shares last traded at $14.80, with a volume of 685,148 shares trading hands.

LFMD has been the topic of a number of other reports. B. Riley upgraded LifeMD to a "strong-buy" rating in a research note on Tuesday, March 11th. HC Wainwright reiterated a "buy" rating and issued a $14.00 target price on shares of LifeMD in a research note on Wednesday, April 30th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $15.00 target price on shares of LifeMD in a report on Tuesday, March 11th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $12.00.

Insider Activity at LifeMD

In other LifeMD news, insider Eric Harold Yecies sold 15,000 shares of LifeMD 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 completion of the sale, the insider now directly owns 16,100 shares of the company's stock, valued at approximately $197,225. The trade was a 48.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Justin Schreiber sold 50,000 shares of the stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $7.78, for a total transaction of $389,000.00. Following the completion of the sale, the chief executive officer now owns 2,575,721 shares of the company's stock, valued at approximately $20,039,109.38. This trade represents a 1.90% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 321,995 shares of company stock worth $3,784,672. Insiders own 18.40% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of LFMD. Marshall Wace LLP grew its stake in shares of LifeMD by 522.9% in the fourth quarter. Marshall Wace LLP now owns 371,473 shares of the company's stock worth $1,839,000 after purchasing an additional 311,841 shares during the last quarter. Nuveen LLC bought a new position in shares of LifeMD during the 1st quarter valued at $1,545,000. Royce & Associates LP raised its holdings in LifeMD by 23.9% during the fourth quarter. Royce & Associates LP now owns 1,115,991 shares of the company's stock valued at $5,524,000 after acquiring an additional 214,950 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in LifeMD by 21.6% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 931,294 shares of the company's stock valued at $4,610,000 after acquiring an additional 165,378 shares during the period. Finally, Renaissance Technologies LLC grew its position in shares of LifeMD by 45.2% during the fourth quarter. Renaissance Technologies LLC now owns 510,000 shares of the company's stock valued at $2,524,000 after purchasing an additional 158,796 shares in the last quarter. 35.52% of the stock is owned by institutional investors.

LifeMD Price Performance

The company has a market cap of $670.84 million, a PE ratio of -43.41 and a beta of 2.42. The company has a 50-day moving average of $9.78 and a 200 day moving average of $7.01.

LifeMD (NASDAQ:LFMD - Get Free Report) last released 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 during the quarter, compared to analysts' expectations of $62.47 million. Equities research analysts expect that LifeMD, Inc. will post -0.56 EPS for the current year.

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.