LifeMD (NASDAQ:LFMD) Price Target Raised to $18.00

LifeMD (NASDAQ:LFMD) had its target price increased by BTIG Research from $15.00 to $18.00 in a research note issued to investors on Wednesday morning, MarketBeat Ratings reports. They currently have a buy rating on the stock.

Several other research analysts have also recently weighed in on LFMD. HC Wainwright reaffirmed a “buy” rating and issued a $14.00 price target on shares of LifeMD in a report on Wednesday, April 30th. Cantor Fitzgerald restated an “overweight” rating and set a $15.00 target price on shares of LifeMD in a research report on Tuesday, March 11th. Finally, B. Riley upgraded LifeMD to a “strong-buy” rating in a research note on Tuesday, March 11th. One analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $12.00.

LifeMD Trading Down 2.0%

Shares of LifeMD stock opened at $14.76 on Wednesday. The business’s fifty day simple moving average is $9.78 and its 200 day simple moving average is $7.01. LifeMD has a 12 month low of $3.99 and a 12 month high of $15.34. The firm has a market capitalization of $670.84 million, a P/E ratio of -43.41 and a beta of 2.42.

LifeMD (NASDAQ:LFMD) last posted its quarterly earnings data 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 company had revenue of $65.70 million for the quarter, compared to analysts’ expectations of $62.47 million. Analysts predict that LifeMD will post -0.56 EPS for the current fiscal year.

Insider Buying and Selling

In other LifeMD news, insider Eric Harold Yecies sold 15,000 shares of LifeMD stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $12.25, for a total transaction of $183,750.00. Following the transaction, the insider now directly owns 16,100 shares of the company’s stock, valued at approximately $197,225. This trade represents a 48.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Justin Schreiber sold 21,995 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $7.53, for a total transaction of $165,622.35. Following the completion of the sale, the chief executive officer now owns 2,553,726 shares of the company’s stock, valued at approximately $19,229,556.78. The trade was a 0.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 321,995 shares of company stock worth $3,784,672. Corporate insiders own 18.40% of the company’s stock.

Hedge Funds Weigh In On LifeMD

Several institutional investors and hedge funds have recently made changes to their positions in the business. Uniplan Investment Counsel Inc. lifted its stake in LifeMD by 0.8% in the first quarter. Uniplan Investment Counsel Inc. now owns 388,288 shares of the company’s stock worth $2,112,000 after purchasing an additional 3,035 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of LifeMD by 4.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,647 shares of the company’s stock worth $270,000 after buying an additional 2,235 shares during the period. Ieq Capital LLC bought a new stake in shares of LifeMD in the 1st quarter valued at about $114,000. Virtus Advisers LLC bought a new stake in shares of LifeMD in the 1st quarter valued at about $213,000. Finally, Jump Financial LLC boosted its holdings in LifeMD by 69.9% during the 1st quarter. Jump Financial LLC now owns 168,881 shares of the company’s stock valued at $919,000 after acquiring an additional 69,502 shares during the period. Institutional investors 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.