LifeMD, Inc. (NASDAQ:LFMD) Receives Average Rating of “Buy” from Analysts

Shares of LifeMD, Inc. (NASDAQ:LFMD) have received an average rating of “Buy” from the six research firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $11.00.

A number of research analysts have commented on LFMD shares. HC Wainwright reiterated a “buy” rating and issued a $14.00 price objective on shares of LifeMD in a research report on Wednesday, April 30th. Cantor Fitzgerald restated an “overweight” rating and issued a $15.00 price target on shares of LifeMD in a research report on Tuesday, March 11th. Finally, B. Riley upgraded LifeMD to a “strong-buy” rating in a research report on Tuesday, March 11th.

LifeMD Stock Performance

Shares of LFMD opened at $10.64 on Wednesday. The firm has a market capitalization of $483.57 million, a price-to-earnings ratio of -16.63 and a beta of 2.22. The business’s fifty day moving average price is $6.51 and its two-hundred day moving average price is $5.95. LifeMD has a 52 week low of $3.99 and a 52 week high of $11.18.

LifeMD (NASDAQ:LFMD) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.05. The firm had revenue of $65.70 million during the quarter, compared to the consensus estimate of $62.47 million. As a group, research analysts forecast that LifeMD will post -0.56 EPS for the current year.

Insider Buying and Selling

In related news, CMO Jessica Friedeman sold 30,000 shares of the firm’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $5.66, for a total transaction of $169,800.00. Following the sale, the chief marketing officer now owns 170,000 shares of the company’s stock, valued at approximately $962,200. This trade represents a 15.00% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Justin Schreiber sold 21,995 shares of the firm’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $7.53, for a total value of $165,622.35. Following the sale, the chief executive officer now directly owns 2,553,726 shares in the company, valued at $19,229,556.78. The trade was a 0.85% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 101,995 shares of company stock valued at $724,422. 15.97% of the stock is owned by company insiders.

Institutional Trading of LifeMD

Hedge funds and other institutional investors have recently modified their holdings of the company. Marshall Wace LLP lifted its holdings in shares of LifeMD by 522.9% in the fourth quarter. Marshall Wace LLP now owns 371,473 shares of the company’s stock valued at $1,839,000 after purchasing an additional 311,841 shares in the last quarter. Nuveen LLC bought a new stake in shares of LifeMD in the first quarter valued at about $1,545,000. Royce & Associates LP lifted its holdings 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 valued at $5,524,000 after purchasing an additional 214,950 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of 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 purchasing an additional 165,378 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of 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 purchasing an additional 158,796 shares in the last quarter. 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.