Brokerages Set LifeMD, Inc. (NASDAQ:LFMD) Target Price at $11.14

Shares of LifeMD, Inc. (NASDAQ:LFMD) have been given an average recommendation of “Moderate Buy” by the seven analysts that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $11.14.

LFMD has been the subject of several analyst reports. Mizuho assumed coverage on shares of LifeMD in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $7.00 price objective for the company. HC Wainwright reiterated a “buy” rating and set a $12.00 price target on shares of LifeMD in a research note on Monday, November 11th. KeyCorp cut their price objective on LifeMD from $10.00 to $7.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Finally, Lake Street Capital assumed coverage on LifeMD in a research report on Tuesday, December 10th. They set a “buy” rating and a $12.00 target price for the company.

Insider Buying and Selling

In other news, CEO Justin Schreiber sold 25,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $5.19, for a total transaction of $129,750.00. Following the completion of the transaction, the chief executive officer now owns 2,703,715 shares of the company’s stock, valued at approximately $14,032,280.85. This represents a 0.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 15.97% of the stock is owned by insiders.

Hedge Funds Weigh In On LifeMD

Several large investors have recently added to or reduced their stakes in LFMD. Prudential Financial Inc. lifted its holdings in shares of LifeMD by 19.3% during the 4th quarter. Prudential Financial Inc. now owns 13,605 shares of the company’s stock worth $67,000 after acquiring an additional 2,200 shares during the period. Rhumbline Advisers lifted its stake in LifeMD by 6.1% during the fourth quarter. Rhumbline Advisers now owns 48,689 shares of the company’s stock worth $241,000 after purchasing an additional 2,814 shares during the period. Geode Capital Management LLC boosted its holdings in LifeMD by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 822,217 shares of the company’s stock valued at $4,071,000 after purchasing an additional 2,984 shares in the last quarter. Magnus Financial Group LLC grew its stake in shares of LifeMD by 31.1% in the 4th quarter. Magnus Financial Group LLC now owns 16,000 shares of the company’s stock valued at $79,000 after purchasing an additional 3,792 shares during the period. Finally, Los Angeles Capital Management LLC raised its holdings in shares of LifeMD by 4.8% in the 4th quarter. Los Angeles Capital Management LLC now owns 127,435 shares of the company’s stock worth $631,000 after buying an additional 5,850 shares in the last quarter. Institutional investors and hedge funds own 35.52% of the company’s stock.

LifeMD Stock Up 4.7 %

NASDAQ LFMD opened at $6.86 on Monday. The stock has a market capitalization of $297.12 million, a PE ratio of -10.72 and a beta of 1.50. LifeMD has a 12-month low of $3.99 and a 12-month high of $12.88. The company has a 50 day moving average price of $5.45 and a two-hundred day moving average price of $5.36.

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.