Analysts Set LifeMD, Inc. (NASDAQ:LFMD) PT at $12.00

Shares of LifeMD, Inc. (NASDAQ:LFMD) have received an average recommendation of “Buy” from the seven ratings firms that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $12.86.

Several analysts have recently weighed in on LFMD shares. BTIG Research lifted their target price on LifeMD from $15.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, June 18th. Lake Street Capital set a $18.00 price objective on shares of LifeMD and gave the company a “buy” rating in a research note on Thursday. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $14.00 target price on shares of LifeMD in a report on Wednesday, April 30th.

LifeMD Stock Performance

Shares of LifeMD stock opened at $11.26 on Thursday. The stock has a 50 day moving average of $11.79 and a 200 day moving average of $7.79. The firm has a market capitalization of $511.77 million, a price-to-earnings ratio of -33.12 and a beta of 2.40. LifeMD has a fifty-two week low of $3.99 and a fifty-two week high of $15.84.

LifeMD (NASDAQ:LFMD) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.01 earnings per share (EPS) 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. Analysts forecast that LifeMD will post -0.56 EPS for the current year.

Insider Buying and Selling at LifeMD

In other LifeMD news, insider Eric Harold Yecies sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $12.25, for a total value of $183,750.00. Following the completion of the transaction, the insider owned 16,100 shares in the company, valued at $197,225. This represents a 48.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stefan Galluppi sold 85,000 shares of the business’s stock in a transaction on Friday, June 13th. The stock was sold at an average price of $12.38, for a total transaction of $1,052,300.00. Following the completion of the transaction, the insider owned 80,449 shares in the company, valued at $995,958.62. This represents a 51.38% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 346,995 shares of company stock worth $4,119,172 in the last quarter. Company insiders own 18.40% of the company’s stock.

Hedge Funds Weigh In On LifeMD

Hedge funds have recently added to or reduced their stakes in the business. Marshall Wace LLP increased its holdings in shares of LifeMD by 522.9% during 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 during the period. Nuveen LLC bought a new position in shares of LifeMD in the first quarter valued at approximately $1,545,000. Royce & Associates LP increased its stake in shares of LifeMD by 23.9% during the fourth quarter. Royce & Associates LP now owns 1,115,991 shares of the company’s stock valued at $5,524,000 after acquiring an additional 214,950 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in LifeMD by 21.6% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 931,294 shares of the company’s stock worth $4,610,000 after purchasing an additional 165,378 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in LifeMD by 45.2% in the fourth quarter. Renaissance Technologies LLC now owns 510,000 shares of the company’s stock worth $2,524,000 after purchasing an additional 158,796 shares during the period. Institutional investors and hedge funds own 35.52% of the company’s stock.

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.