LifeMD, Inc. (NASDAQ:LFMD) Given Consensus Recommendation of “Buy” by Brokerages

Shares of LifeMD, Inc. (NASDAQ:LFMD) have been given a consensus rating of “Buy” by the seven research firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $11.43.

Several analysts recently commented on LFMD shares. Lake Street Capital assumed coverage on shares of LifeMD in a report on Tuesday, December 10th. They set a “buy” rating and a $12.00 price target for the company. KeyCorp lowered their price target on shares of LifeMD from $10.00 to $7.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Mizuho started coverage on LifeMD in a research report on Wednesday, December 4th. They set a “neutral” rating and a $7.00 price objective for the company. B. Riley upgraded LifeMD to a “strong-buy” rating in a research note on Tuesday, March 11th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $15.00 price target on shares of LifeMD in a research note on Tuesday, March 11th.

LifeMD Stock Down 0.2 %

Shares of NASDAQ:LFMD opened at $5.44 on Tuesday. The company’s fifty day moving average is $5.84 and its two-hundred day moving average is $5.44. The company has a market cap of $242.54 million, a P/E ratio of -8.50 and a beta of 1.50. LifeMD has a 12-month low of $3.99 and a 12-month high of $12.88.

LifeMD (NASDAQ:LFMD) last announced its quarterly earnings data on Monday, March 10th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.02. The business had revenue of $64.26 million during the quarter, compared to analysts’ expectations of $57.43 million. Equities research analysts anticipate that LifeMD will post -0.56 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Justin Schreiber sold 50,000 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $7.55, for a total transaction of $377,500.00. Following the transaction, the chief executive officer now owns 2,653,715 shares of the company’s stock, valued at approximately $20,035,548.25. This represents a 1.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CMO Jessica Friedeman sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $5.66, for a total value of $169,800.00. Following the completion of the transaction, the chief marketing officer now directly owns 170,000 shares in the company, valued at $962,200. The trade was a 15.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 105,000 shares of company stock valued at $677,050 over the last three months. 15.97% of the stock is currently owned by insiders.

Institutional Investors Weigh In On LifeMD

A number of hedge funds have recently bought and sold shares of the company. ProShare Advisors LLC bought a new position in shares of LifeMD in the fourth quarter worth about $51,000. Oxford Asset Management LLP acquired a new position in shares of LifeMD during the fourth quarter worth approximately $52,000. Balyasny Asset Management L.P. bought a new stake in shares of LifeMD in the fourth quarter valued at approximately $52,000. Intech Investment Management LLC acquired a new stake in shares of LifeMD in the third quarter worth $54,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in LifeMD during the fourth quarter worth $56,000. 35.52% of the stock is currently owned by institutional investors.

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.