LifeMD (NASDAQ:LFMD) Price Target Raised to $14.00 at HC Wainwright

LifeMD (NASDAQ:LFMD) had its target price upped by HC Wainwright from $12.00 to $14.00 in a research report report published on Wednesday morning, Marketbeat.com reports. They currently have a buy rating on the stock.

A number of other analysts also recently weighed in on LFMD. Lake Street Capital assumed coverage on LifeMD in a research report on Tuesday, December 10th. They set a “buy” rating and a $12.00 target price for the company. KeyCorp dropped their target price on LifeMD from $10.00 to $7.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $15.00 target price on shares of LifeMD in a research report on Tuesday. Finally, Mizuho started coverage on LifeMD in a research report on Wednesday, December 4th. They issued a “neutral” rating and a $7.00 target price for the company. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $11.43.

LifeMD Stock Up 4.9 %

Shares of LifeMD stock opened at $5.94 on Wednesday. LifeMD has a 12-month low of $3.99 and a 12-month high of $12.88. The stock has a market cap of $257.27 million, a P/E ratio of -9.28 and a beta of 1.50. The business’s 50 day moving average is $5.68 and its 200-day moving average is $5.38.

LifeMD (NASDAQ:LFMD) last issued its quarterly earnings data on Monday, March 10th. The company reported ($0.02) 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 analyst estimates of $57.43 million. On average, sell-side analysts expect that LifeMD will post -0.56 EPS for the current year.

Insider Buying and Selling

In other LifeMD news, CEO Justin Schreiber sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $7.55, for a total value of $377,500.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 15.97% of the stock is currently owned by insiders.

Institutional Investors Weigh In On LifeMD

Hedge funds have recently added to or reduced their stakes in the company. Prudential Financial Inc. lifted its holdings in shares of LifeMD by 19.3% in the fourth quarter. Prudential Financial Inc. now owns 13,605 shares of the company’s stock valued at $67,000 after purchasing an additional 2,200 shares in the last quarter. Rhumbline Advisers lifted its holdings in LifeMD by 6.1% during the fourth quarter. Rhumbline Advisers now owns 48,689 shares of the company’s stock worth $241,000 after acquiring an additional 2,814 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in LifeMD by 26.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,012 shares of the company’s stock worth $70,000 after acquiring an additional 2,895 shares during the period. Geode Capital Management LLC lifted its holdings in LifeMD by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 822,217 shares of the company’s stock worth $4,071,000 after acquiring an additional 2,984 shares during the period. Finally, Magnus Financial Group LLC raised its stake in shares of LifeMD by 31.1% in the fourth quarter. Magnus Financial Group LLC now owns 16,000 shares of the company’s stock valued at $79,000 after buying an additional 3,792 shares during the period. Institutional investors and hedge funds 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.