LifeMD (NASDAQ:LFMD) Earns "Buy" Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of LifeMD (NASDAQ:LFMD - Free Report) in a research note issued to investors on Wednesday morning,Benzinga reports. The brokerage currently has a $14.00 target price on the stock.

LFMD has been the subject of a number of other reports. B. Riley upgraded LifeMD to a "strong-buy" rating in a research note on Tuesday, March 11th. KeyCorp dropped their price target on shares of LifeMD from $10.00 to $7.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 8th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $15.00 price objective on shares of LifeMD in a research note on Tuesday, March 11th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, LifeMD currently has a consensus rating of "Buy" and an average target price of $11.00.

LifeMD Trading Up 1.5 %

Shares of LifeMD stock traded up $0.11 during trading on Wednesday, reaching $7.36. The stock had a trading volume of 494,397 shares, compared to its average volume of 917,501. The company has a market capitalization of $323.65 million, a price-to-earnings ratio of -11.48 and a beta of 2.22. LifeMD has a 52 week low of $3.99 and a 52 week high of $12.88. The stock has a fifty day moving average price of $5.56 and a two-hundred day moving average price of $5.57.

LifeMD (NASDAQ:LFMD - Get Free Report) last issued its quarterly earnings results on Monday, March 10th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.02. The business had revenue of $64.26 million for the quarter, compared to the consensus estimate of $57.43 million. On average, equities analysts forecast that LifeMD will post -0.56 EPS for the current fiscal year.

Insider Transactions at LifeMD

In other news, CMO Jessica Friedeman sold 30,000 shares of the company's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $5.66, for a total transaction 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. This represents a 15.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Justin Schreiber sold 50,000 shares of the firm's stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $7.78, for a total value of $389,000.00. Following the completion of the sale, the chief executive officer now directly 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. In the last three months, insiders have sold 130,000 shares of company stock valued at $936,300. 15.97% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On LifeMD

A number of hedge funds have recently made changes to their positions in the stock. Marshall Wace LLP increased its holdings in shares of LifeMD by 522.9% during the fourth quarter. Marshall Wace LLP now owns 371,473 shares of the company's stock worth $1,839,000 after buying an additional 311,841 shares in the last quarter. Royce & Associates LP grew its holdings in shares of LifeMD by 23.9% during the fourth quarter. Royce & Associates LP now owns 1,115,991 shares of the company's stock worth $5,524,000 after purchasing an additional 214,950 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of LifeMD by 21.6% in 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 buying an additional 165,378 shares during the period. Renaissance Technologies LLC boosted its position in LifeMD by 45.2% during the 4th quarter. Renaissance Technologies LLC now owns 510,000 shares of the company's stock worth $2,524,000 after buying an additional 158,796 shares during the period. Finally, D. E. Shaw & Co. Inc. grew its holdings in LifeMD by 825.6% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 158,423 shares of the company's stock worth $784,000 after acquiring an additional 141,307 shares during the last quarter. 35.52% of the stock is currently owned by institutional investors and hedge funds.

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.