LifeMD (NASDAQ:LFMD) Upgraded to “Strong-Buy” at B. Riley

B. Riley upgraded shares of LifeMD (NASDAQ:LFMD) to a strong-buy rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other analysts have also issued reports on LFMD. KeyCorp cut their target price on LifeMD from $10.00 to $7.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $15.00 price objective on shares of LifeMD in a research report on Tuesday. HC Wainwright upped their price objective on LifeMD from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Wednesday. Mizuho initiated coverage on LifeMD in a research report on Wednesday, December 4th. They set a “neutral” rating and a $7.00 price objective on the stock. Finally, Lake Street Capital initiated coverage on LifeMD in a research report on Tuesday, December 10th. They set a “buy” rating and a $12.00 price objective on the stock. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, LifeMD has an average rating of “Buy” and a consensus target price of $11.43.

LifeMD Stock Up 3.6 %

Shares of NASDAQ LFMD opened at $5.77 on Tuesday. The firm has a market cap of $249.91 million, a price-to-earnings ratio of -9.02 and a beta of 1.50. LifeMD has a 52-week low of $3.99 and a 52-week high of $12.88. The business’s 50 day moving average is $5.67 and its two-hundred day moving average is $5.38.

LifeMD (NASDAQ:LFMD) last announced its earnings results on Monday, March 10th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.02. The firm had revenue of $64.26 million during the quarter, compared to analysts’ expectations of $57.43 million. Analysts anticipate that LifeMD will post -0.56 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Justin Schreiber sold 25,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $5.19, for a total transaction of $129,750.00. Following the completion of the transaction, the chief executive officer now owns 2,703,715 shares in the company, valued at approximately $14,032,280.85. The trade was a 0.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 15.97% of the company’s stock.

Hedge Funds Weigh In On LifeMD

A number of institutional investors and hedge funds have recently modified their holdings of the company. State Street Corp grew its stake in shares of LifeMD by 20.0% during the third quarter. State Street Corp now owns 1,155,495 shares of the company’s stock worth $6,055,000 after purchasing an additional 192,861 shares in the last quarter. Royce & Associates LP boosted its stake in LifeMD by 23.9% in 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 in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in 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 acquiring an additional 165,378 shares in the last quarter. Millennium Management LLC boosted its stake in LifeMD by 17.1% in the fourth 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 in the last quarter. Finally, Geode Capital Management LLC boosted its stake in LifeMD by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 822,217 shares of the company’s stock valued at $4,071,000 after acquiring an additional 2,984 shares in the last quarter. Institutional investors and hedge funds own 35.52% of the company’s stock.

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.