LifeMD (NASDAQ:LFMD) Shares Up 13.3% - Still a Buy?

Key Points

• LifeMD's stock price rose 13.3% to $11.26 amidst a trading volume decrease of 52% from its average.
• Analysts are divided on the stock, with two rating it a hold and five giving a buy rating, while the average price target is $13.86.
• Insider trading has seen significant activity, with the CEO selling 25,000 shares and insiders collectively selling about 275,000 shares in the last 90 days.

LifeMD, Inc. (NASDAQ:LFMD - Get Free Report)'s stock price shot up 13.3% during trading on Monday . The stock traded as high as $11.48 and last traded at $11.26. 714,821 shares changed hands during trading, a decline of 52% from the average session volume of 1,483,000 shares. The stock had previously closed at $9.94.

Analyst Upgrades and Downgrades

Several research firms recently commented on LFMD. Wall Street Zen cut shares of LifeMD from a "buy" rating to a "hold" rating in a research note on Saturday. HC Wainwright restated a "buy" rating and issued a $14.00 price objective on shares of LifeMD in a research note on Wednesday, April 30th. KeyCorp increased their price objective on shares of LifeMD from $12.00 to $14.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. BTIG Research increased their price objective on shares of LifeMD from $15.00 to $18.00 and gave the company a "buy" rating in a research note on Wednesday, June 18th. Finally, Lake Street Capital increased their price objective on shares of LifeMD from $12.00 to $18.00 and gave the company a "buy" rating in a research note on Thursday, July 10th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, LifeMD currently has a consensus rating of "Moderate Buy" and an average price target of $13.86.

LifeMD Stock Performance

The stock has a 50-day moving average of $12.14 and a 200 day moving average of $8.39. The firm has a market capitalization of $562.72 million, a P/E ratio of -36.55 and a beta of 1.72.

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, beating the consensus estimate of ($0.04) by $0.05. The business had revenue of $65.70 million during the quarter, compared to the consensus estimate of $62.47 million. On average, equities analysts predict that LifeMD, Inc. will post -0.56 EPS for the current year.

Insiders Place Their Bets

In other LifeMD news, CEO Justin Schreiber sold 25,000 shares of the company's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $13.38, for a total transaction of $334,500.00. Following the transaction, the chief executive officer owned 2,500,721 shares of the company's stock, valued at approximately $33,459,646.98. This represents a 0.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Eric Harold Yecies sold 15,000 shares of the business's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $12.25, for a total value of $183,750.00. Following the sale, the insider owned 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 90 days, insiders have sold 275,000 shares of company stock worth $3,564,550. 18.40% of the stock is owned by company insiders.

Institutional Trading of LifeMD

Several institutional investors and hedge funds have recently made changes to their positions in the business. Royce & Associates LP boosted its position in shares of LifeMD by 3.5% in the 1st quarter. Royce & Associates LP now owns 1,155,231 shares of the company's stock worth $6,284,000 after purchasing an additional 39,240 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake 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 acquiring an additional 50,600 shares during the last quarter. Millennium Management LLC raised its position 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 acquiring an additional 129,327 shares during the period. Geode Capital Management LLC grew its holdings in LifeMD by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 822,217 shares of the company's stock valued at $4,071,000 after purchasing an additional 2,984 shares during the period. Finally, Renaissance Technologies LLC increased its stake in LifeMD by 45.2% in 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. 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.

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