LifeMD (NASDAQ:LFMD) Hits New 1-Year High – Time to Buy?

LifeMD, Inc. (NASDAQ:LFMD)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $11.18 and last traded at $11.14, with a volume of 1328403 shares traded. The stock had previously closed at $10.58.

Analysts Set New Price Targets

LFMD has been the subject of several research reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $15.00 target price on shares of LifeMD in a research report on Tuesday, March 11th. HC Wainwright reiterated a “buy” rating and issued a $14.00 target price on shares of LifeMD in a research report on Wednesday, April 30th. Finally, B. Riley raised shares of LifeMD to a “strong-buy” rating in a research note on Tuesday, March 11th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, LifeMD presently has a consensus rating of “Buy” and an average price target of $11.00.

LifeMD Price Performance

The stock has a 50 day moving average price of $6.41 and a 200-day moving average price of $5.92. The stock has a market capitalization of $484.93 million, a P/E ratio of -16.67 and a beta of 2.22.

LifeMD (NASDAQ:LFMD) last posted its earnings results 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 firm had revenue of $65.70 million for the quarter, compared to analysts’ expectations of $62.47 million. Research analysts predict that LifeMD, Inc. will post -0.56 earnings per share for the current fiscal year.

Insider Activity

In other LifeMD news, CMO Jessica Friedeman sold 30,000 shares of the business’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $5.66, for a total transaction of $169,800.00. Following the completion of the sale, the chief marketing officer now directly owns 170,000 shares in the company, valued at approximately $962,200. The trade was a 15.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Justin Schreiber sold 50,000 shares of the company’s stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $7.78, for a total transaction of $389,000.00. Following the sale, the chief executive officer now directly owns 2,575,721 shares of the company’s stock, valued at $20,039,109.38. The trade was a 1.90% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 101,995 shares of company stock worth $724,422 in the last quarter. 15.97% of the stock is owned by company insiders.

Institutional Investors Weigh In On LifeMD

Several hedge funds and other institutional investors have recently modified their holdings of LFMD. CWM LLC increased its stake in LifeMD by 17.5% in the 1st quarter. CWM LLC now owns 9,050 shares of the company’s stock worth $49,000 after buying an additional 1,351 shares in the last quarter. Prudential Financial Inc. grew its position in shares of LifeMD by 19.3% during the fourth quarter. Prudential Financial Inc. now owns 13,605 shares of the company’s stock valued at $67,000 after purchasing an additional 2,200 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of LifeMD by 4.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,647 shares of the company’s stock valued at $270,000 after acquiring an additional 2,235 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of LifeMD by 6.1% in the 4th quarter. Rhumbline Advisers now owns 48,689 shares of the company’s stock valued at $241,000 after acquiring an additional 2,814 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of LifeMD by 26.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,012 shares of the company’s stock valued at $70,000 after acquiring an additional 2,895 shares during the last quarter. 35.52% of the stock is currently owned by hedge funds and other 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.