LifeMD (NASDAQ:LFMD) Releases Quarterly Earnings Results, Beats Expectations By $0.42 EPS

LifeMD (NASDAQ:LFMD) released its quarterly earnings data on Monday. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.42, FiscalAI reports. The company had revenue of $46.87 million during the quarter, compared to the consensus estimate of $48.57 million.

LifeMD Stock Up 4.0%

NASDAQ:LFMD traded up $0.12 during trading hours on Monday, hitting $3.12. 2,229,817 shares of the company traded hands, compared to its average volume of 987,546. The firm’s 50-day simple moving average is $3.30 and its 200-day simple moving average is $4.60. LifeMD has a one year low of $2.56 and a one year high of $15.84. The company has a market cap of $150.18 million, a PE ratio of -18.35 and a beta of 1.92.

Analyst Ratings Changes

Several equities research analysts have weighed in on LFMD shares. Wall Street Zen downgraded shares of LifeMD from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. HC Wainwright dropped their price target on LifeMD from $13.00 to $9.00 and set a “buy” rating on the stock in a research note on Wednesday, November 19th. B. Riley Financial cut their price target on LifeMD from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, November 18th. Zacks Research raised LifeMD from a “strong sell” rating to a “hold” rating in a research report on Friday, December 19th. Finally, Loop Capital set a $8.00 price target on shares of LifeMD in a research report on Monday, November 24th. Six investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $9.25.

Insider Activity

In other news, CMO Jessica Friedeman sold 15,000 shares of the company’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $3.61, for a total value of $54,150.00. Following the completion of the sale, the chief marketing officer owned 205,000 shares in the company, valued at $740,050. This represents a 6.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 18.40% of the stock is currently owned by insiders.

Institutional Trading of LifeMD

Hedge funds have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd bought a new position in LifeMD during the fourth quarter valued at about $36,000. Jain Global LLC bought a new position in shares of LifeMD during the 4th quarter valued at approximately $45,000. Quarry LP purchased a new stake in shares of LifeMD during the 3rd quarter worth approximately $52,000. Tower Research Capital LLC TRC increased its stake in shares of LifeMD by 110.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,674 shares of the company’s stock worth $64,000 after purchasing an additional 2,452 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in shares of LifeMD by 18.8% in the 4th quarter. Invesco Ltd. now owns 24,464 shares of the company’s stock worth $83,000 after purchasing an additional 3,870 shares during the period. 35.52% of the stock is currently owned by institutional investors.

About LifeMD

LifeMD (NASDAQ: LFMD) is a U.S.-based telehealth company that delivers on-demand, membership-based virtual healthcare services. Through its digital platform and mobile applications, LifeMD connects patients with board-certified healthcare providers for diagnosis, treatment and ongoing management of a range of acute and chronic conditions. The company’s core offering centers on personalized care plans supported by prescription fulfillment, lab testing and prescription delivery services.

LifeMD’s service portfolio spans several specialty areas, including men’s health, hormonal therapy, weight management and primary care.