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

LifeMD, Inc. (NASDAQ:LFMD) has received a consensus recommendation of “Buy” from the seven brokerages that are covering the firm, Marketbeat reports. One 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 1-year price target among brokers that have updated their coverage on the stock in the last year is $11.43.

A number of research firms recently weighed in on LFMD. Lake Street Capital initiated coverage on shares of LifeMD in a research report on Tuesday, December 10th. They issued a “buy” rating and a $12.00 price objective on the stock. B. Riley upgraded shares of LifeMD to a “strong-buy” rating in a research note on Tuesday, March 11th. Cantor Fitzgerald restated an “overweight” rating and issued a $15.00 price objective on shares of LifeMD in a research report on Tuesday, March 11th. KeyCorp reduced their target price on LifeMD from $10.00 to $7.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Finally, HC Wainwright raised their price objective on shares of LifeMD from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Wednesday, March 12th.

Insider Buying and Selling at LifeMD

In other news, CMO Jessica Friedeman sold 30,000 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $5.66, for a total transaction of $169,800.00. Following the transaction, the chief marketing officer now directly owns 170,000 shares in the company, valued at $962,200. This represents a 15.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Justin Schreiber sold 50,000 shares of LifeMD stock in a transaction on Friday, February 14th. The shares were sold at an average price of $7.55, for a total value of $377,500.00. Following the completion of the transaction, the chief executive officer now owns 2,653,715 shares in the company, valued at $20,035,548.25. The trade was a 1.85 % decrease in their position. The disclosure for this sale can be found here. 15.97% of the stock is owned by insiders.

Hedge Funds Weigh In On LifeMD

Several hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp boosted its position in LifeMD by 20.0% during the 3rd quarter. State Street Corp now owns 1,155,495 shares of the company’s stock worth $6,055,000 after purchasing an additional 192,861 shares during the period. Royce & Associates LP grew 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 valued at $5,524,000 after buying an additional 214,950 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of LifeMD by 21.6% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 931,294 shares of the company’s stock valued at $4,610,000 after buying an additional 165,378 shares during the period. Millennium Management LLC lifted its position in LifeMD by 17.1% during the 4th quarter. Millennium Management LLC now owns 885,987 shares of the company’s stock worth $4,386,000 after acquiring an additional 129,327 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in LifeMD by 0.4% in the 4th 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. 35.52% of the stock is owned by institutional investors and hedge funds.

LifeMD Stock Performance

NASDAQ LFMD opened at $5.16 on Tuesday. LifeMD has a one year low of $3.99 and a one year high of $12.88. The firm has a market cap of $230.05 million, a PE ratio of -8.06 and a beta of 2.22. The firm’s fifty day moving average is $5.86 and its two-hundred day moving average is $5.44.

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