Brokerages Set LifeMD, Inc. (NASDAQ:LFMD) Price Target at $11.14

LifeMD, Inc. (NASDAQ:LFMD) has been given an average recommendation of “Buy” by the seven brokerages that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $11.43.

Several research firms recently commented on LFMD. Cantor Fitzgerald restated an “overweight” rating and set a $15.00 price target on shares of LifeMD in a research report on Tuesday. B. Riley upgraded LifeMD to a “strong-buy” rating in a research report on Tuesday. Lake Street Capital assumed coverage on LifeMD in a report on Tuesday, December 10th. They issued a “buy” rating and a $12.00 price target for the company. Mizuho started coverage on LifeMD in a report on Wednesday, December 4th. They issued a “neutral” rating and a $7.00 price objective on the stock. Finally, KeyCorp reduced their target price on LifeMD from $10.00 to $7.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th.

LifeMD Stock Down 1.9 %

Shares of LFMD stock opened at $5.66 on Friday. The stock has a market cap of $245.15 million, a PE ratio of -8.84 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 has a 50-day simple moving average of $5.68 and a 200-day simple moving average of $5.38.

LifeMD (NASDAQ:LFMD) last announced its quarterly 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 company had revenue of $64.26 million during the quarter, compared to analyst estimates of $57.43 million. Sell-side analysts anticipate that LifeMD will post -0.56 earnings per share for the current fiscal year.

Insider Buying and Selling at LifeMD

In related news, CEO Justin Schreiber sold 50,000 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $7.55, for a total transaction of $377,500.00. Following the completion of the transaction, the chief executive officer now owns 2,653,715 shares of the company’s stock, valued at approximately $20,035,548.25. This trade represents a 1.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 15.97% of the company’s stock.

Institutional Trading of LifeMD

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LFMD. Los Angeles Capital Management LLC grew its stake in shares of LifeMD by 852.6% in the third quarter. Los Angeles Capital Management LLC now owns 121,585 shares of the company’s stock valued at $637,000 after buying an additional 108,822 shares in the last quarter. Royce & Associates LP grew its position in LifeMD by 14.6% in the 3rd quarter. Royce & Associates LP now owns 901,041 shares of the company’s stock valued at $4,721,000 after acquiring an additional 114,710 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in LifeMD by 6.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 765,916 shares of the company’s stock worth $4,013,000 after purchasing an additional 48,201 shares during the period. Intech Investment Management LLC acquired a new stake in shares of LifeMD during the third quarter worth about $54,000. Finally, Integrated Investment Consultants LLC purchased a new position in shares of LifeMD in the third quarter valued at approximately $129,000. Hedge funds and other institutional investors 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.