LifeMD (NASDAQ:LFMD) Shares Up 4.9% - Here's Why

Shares of LifeMD, Inc. (NASDAQ:LFMD - Get Free Report) traded up 4.9% on Thursday . The company traded as high as $11.69 and last traded at $12.03. 62,910 shares traded hands during trading, a decline of 94% from the average session volume of 978,408 shares. The stock had previously closed at $11.47.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. HC Wainwright restated a "buy" rating and set a $14.00 price objective 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. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $15.00 price objective on shares of LifeMD in a research report on Tuesday, March 11th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $11.00.

LifeMD Stock Up 5.7%

The stock has a market capitalization of $552.19 million, a PE ratio of -18.98 and a beta of 2.22. The firm has a 50 day moving average price of $7.42 and a 200 day moving average price of $6.28.

LifeMD (NASDAQ:LFMD - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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. On average, equities analysts forecast that LifeMD, Inc. will post -0.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CMO Jessica Friedeman sold 30,000 shares of the business's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $5.66, for a total value of $169,800.00. Following the completion of the sale, the chief marketing officer now owns 170,000 shares of the company's stock, valued at approximately $962,200. The trade was a 15.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Justin Schreiber sold 50,000 shares of the business's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $7.78, for a total value of $389,000.00. Following the transaction, the chief executive officer now owns 2,575,721 shares in the company, valued at approximately $20,039,109.38. This represents a 1.90% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 101,995 shares of company stock valued at $724,422 over the last 90 days. Insiders own 15.97% of the company's stock.

Institutional Inflows and Outflows

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