Analysts Set LifeMD, Inc. (NASDAQ:LFMD) PT at $11.43

Shares of LifeMD, Inc. (NASDAQ:LFMD) have been given an average recommendation of “Buy” by the seven ratings firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $11.43.

Several equities research analysts have commented on the company. KeyCorp cut their price objective on LifeMD from $10.00 to $7.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Cantor Fitzgerald reissued an “overweight” rating and set a $15.00 price objective on shares of LifeMD in a research report on Tuesday, March 11th. Lake Street Capital began coverage on LifeMD in a research report on Tuesday, December 10th. They set a “buy” rating and a $12.00 price target for the company. HC Wainwright lifted their price objective on shares of LifeMD from $12.00 to $14.00 and gave the company a “buy” rating in a report on Wednesday, March 12th. Finally, B. Riley upgraded shares of LifeMD to a “strong-buy” rating in a report on Tuesday, March 11th.

Insider Transactions at LifeMD

In other news, CEO Justin Schreiber sold 50,000 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $7.55, for a total transaction of $377,500.00. Following the sale, the chief executive officer now owns 2,653,715 shares in the company, valued at $20,035,548.25. This trade represents a 1.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CMO Jessica Friedeman sold 30,000 shares of LifeMD stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $5.66, for a total value 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 $962,200. This trade represents a 15.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 15.97% of the company’s stock.

Hedge Funds Weigh In On LifeMD

Large investors have recently bought and sold shares of the stock. Marshall Wace LLP grew its holdings in shares of LifeMD by 522.9% during the 4th quarter. Marshall Wace LLP now owns 371,473 shares of the company’s stock worth $1,839,000 after purchasing an additional 311,841 shares during the period. Royce & Associates LP lifted its stake in shares of LifeMD by 23.9% in the fourth quarter. Royce & Associates LP now owns 1,115,991 shares of the company’s stock worth $5,524,000 after acquiring an additional 214,950 shares in the last quarter. State Street Corp boosted its stake in shares of LifeMD by 20.0% during the 3rd quarter. State Street Corp now owns 1,155,495 shares of the company’s stock valued at $6,055,000 after buying an additional 192,861 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in LifeMD by 21.6% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 931,294 shares of the company’s stock worth $4,610,000 after acquiring an additional 165,378 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in LifeMD by 45.2% in the fourth quarter. Renaissance Technologies LLC now owns 510,000 shares of the company’s stock valued at $2,524,000 after buying an additional 158,796 shares during the last quarter. Hedge funds and other institutional investors own 35.52% of the company’s stock.

LifeMD Stock Down 5.2 %

NASDAQ LFMD opened at $5.32 on Tuesday. The company has a fifty day moving average of $5.86 and a two-hundred day moving average of $5.44. The firm has a market capitalization of $237.19 million, a price-to-earnings ratio of -8.31 and a beta of 1.50. LifeMD has a 52 week low of $3.99 and a 52 week high of $12.88.

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

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.