LifeMD (NASDAQ:LFMD) Stock Price Down 3.2% - What's Next?

LifeMD, Inc. (NASDAQ:LFMD - Get Free Report)'s share price dropped 3.2% on Thursday . The company traded as low as $12.51 and last traded at $12.52. Approximately 275,849 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 1,070,438 shares. The stock had previously closed at $12.93.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on LFMD shares. HC Wainwright restated a "buy" rating and issued a $14.00 price target on shares of LifeMD in a research note on Wednesday, April 30th. BTIG Research lifted their price objective on shares of LifeMD from $15.00 to $18.00 and gave the stock a "buy" rating in a research note on Wednesday, June 18th. B. Riley upgraded LifeMD to a "strong-buy" rating in a research note on Tuesday, March 11th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $15.00 price objective on shares of LifeMD in a report on Tuesday, March 11th. One investment analyst has rated the stock with a hold rating, five have assigned 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 target price of $12.00.

LifeMD Trading Down 3.6%

The business's fifty day moving average is $11.08 and its 200 day moving average is $7.44. The company has a market cap of $566.53 million, a P/E ratio of -36.68 and a beta of 2.40.

LifeMD (NASDAQ:LFMD - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.01 EPS for the quarter, topping analysts' consensus estimates of ($0.04) by $0.05. The company had revenue of $65.70 million during the quarter, compared to analysts' expectations of $62.47 million. As a group, research analysts expect that LifeMD, Inc. will post -0.56 EPS for the current fiscal year.

Insider Buying and Selling at LifeMD

In other news, insider Eric Harold Yecies sold 15,000 shares of the company's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $12.25, for a total transaction of $183,750.00. Following the sale, the insider directly owned 16,100 shares of the company's stock, valued at $197,225. This represents a 48.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Marc David Benathen sold 50,000 shares of the company'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 value of $700,500.00. Following the sale, the chief financial officer owned 339,554 shares in the company, valued at approximately $4,757,151.54. This trade represents a 12.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 321,995 shares of company stock worth $3,784,672. Insiders own 18.40% of the company's stock.

Institutional Investors Weigh In On LifeMD

Several institutional investors have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of LifeMD during the fourth quarter valued at $56,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of LifeMD by 17.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,412 shares of the company's stock worth $235,000 after buying an additional 7,001 shares during the last quarter. Northern Trust Corp increased its position in shares of LifeMD by 2.1% in the 4th quarter. Northern Trust Corp now owns 323,974 shares of the company's stock valued at $1,604,000 after acquiring an additional 6,634 shares during the period. Price T Rowe Associates Inc. MD raised its stake in LifeMD by 26.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,012 shares of the company's stock worth $70,000 after acquiring an additional 2,895 shares during the last quarter. Finally, BNP Paribas Financial Markets acquired a new stake in LifeMD during the 4th quarter worth about $279,000. 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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