LifeMD, Inc. (NASDAQ:LFMD) Receives $11.57 Average Price Target from Analysts

LifeMD, Inc. (NASDAQ:LFMD) has been given an average recommendation of “Moderate Buy” by the seven brokerages that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $11.57.

A number of research analysts have commented on the company. Mizuho began coverage on LifeMD in a research report on Wednesday, December 4th. They issued a “neutral” rating and a $7.00 price objective on the stock. Lake Street Capital initiated coverage on LifeMD in a report on Tuesday, December 10th. They issued a “buy” rating and a $12.00 price target on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $15.00 price objective on shares of LifeMD in a report on Friday, September 20th. Finally, HC Wainwright restated a “buy” rating and set a $12.00 target price on shares of LifeMD in a research report on Monday, November 11th.

Insiders Place Their Bets

In other LifeMD news, CEO Justin Schreiber sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $6.52, for a total value of $163,000.00. Following the completion of the sale, the chief executive officer now owns 2,728,715 shares of the company’s stock, valued at approximately $17,791,221.80. This represents a 0.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 15.97% of the company’s stock.

Hedge Funds Weigh In On LifeMD

Institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp raised its stake in LifeMD by 20.0% during the 3rd quarter. State Street Corp now owns 1,155,495 shares of the company’s stock worth $6,055,000 after buying an additional 192,861 shares during the period. Royce & Associates LP increased its holdings in shares of LifeMD by 14.6% in the third quarter. Royce & Associates LP now owns 901,041 shares of the company’s stock worth $4,721,000 after acquiring an additional 114,710 shares in the last quarter. Los Angeles Capital Management LLC raised its position in shares of LifeMD by 852.6% during the third quarter. Los Angeles Capital Management LLC now owns 121,585 shares of the company’s stock worth $637,000 after purchasing an additional 108,822 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of LifeMD by 63.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 234,583 shares of the company’s stock valued at $1,609,000 after purchasing an additional 91,183 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of LifeMD by 11.4% in the 3rd quarter. Geode Capital Management LLC now owns 819,233 shares of the company’s stock valued at $4,293,000 after purchasing an additional 83,598 shares during the period. Institutional investors and hedge funds own 35.52% of the company’s stock.

LifeMD Price Performance

Shares of LFMD stock opened at $4.91 on Friday. LifeMD has a 1 year low of $3.99 and a 1 year high of $12.88. The company has a current ratio of 0.83, a quick ratio of 0.78 and a debt-to-equity ratio of 10.83. The firm’s 50 day moving average is $5.39 and its 200-day moving average is $5.75. The firm has a market capitalization of $212.66 million, a price-to-earnings ratio of -7.67 and a beta of 1.38.

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.