LifeMD (NASDAQ:LFMD – Free Report) had its price target boosted by BTIG Research from $15.00 to $18.00 in a report issued on Wednesday morning, Marketbeat.com reports. BTIG Research currently has a buy rating on the stock.
Other analysts have also recently issued reports about the stock. HC Wainwright reaffirmed a “buy” rating and issued a $14.00 target price on shares of LifeMD in a research note on Wednesday, April 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $15.00 target price on shares of LifeMD in a research report on Tuesday, March 11th. Finally, B. Riley upgraded LifeMD to a “strong-buy” rating in a report on Tuesday, March 11th. One analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $12.00.
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LifeMD Price Performance
LifeMD (NASDAQ:LFMD – Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.05. The business had revenue of $65.70 million for the quarter, compared to analysts’ expectations of $62.47 million. On average, equities analysts expect that LifeMD will post -0.56 earnings per share for the current fiscal year.
Insider Activity at LifeMD
In other LifeMD news, CEO Justin Schreiber sold 21,995 shares of the firm’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $7.53, for a total value of $165,622.35. Following the transaction, the chief executive officer now directly owns 2,553,726 shares of the company’s stock, valued at $19,229,556.78. This trade represents a 0.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Eric Harold Yecies sold 15,000 shares of the firm’s stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $12.25, for a total value of $183,750.00. Following the completion of the transaction, the insider now directly owns 16,100 shares in the company, valued at $197,225. This trade represents a 48.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 321,995 shares of company stock worth $3,784,672. 18.40% of the stock is owned by insiders.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC purchased a new position in LifeMD in the first quarter valued at about $35,000. CWM LLC raised its position in LifeMD by 17.5% in the first quarter. CWM LLC now owns 9,050 shares of the company’s stock valued at $49,000 after purchasing an additional 1,351 shares during the period. ProShare Advisors LLC purchased a new position in LifeMD in the fourth quarter valued at about $51,000. Balyasny Asset Management L.P. purchased a new position in LifeMD in the fourth quarter valued at about $52,000. Finally, Oxford Asset Management LLP purchased a new position in LifeMD in the fourth quarter valued at about $52,000. 35.52% of the stock is owned by hedge funds and other institutional investors.
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.
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