LifeMD, Inc. (NASDAQ:LFMD) Receives Average Rating of "Moderate Buy" from Brokerages

Shares of LifeMD, Inc. (NASDAQ:LFMD - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the seven brokerages that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $11.14.

LFMD has been the topic of a number of research reports. Mizuho initiated coverage on LifeMD in a research report on Wednesday, December 4th. They set a "neutral" rating and a $7.00 price target on the stock. HC Wainwright reiterated a "buy" rating and set a $12.00 price target on shares of LifeMD in a research report on Monday, November 11th. KeyCorp dropped their price target on LifeMD from $10.00 to $7.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 8th. Finally, Lake Street Capital initiated coverage on LifeMD in a research report on Tuesday, December 10th. They set a "buy" rating and a $12.00 price target on the stock.

LifeMD Trading Up 6.0 %

NASDAQ LFMD traded up $0.41 on Monday, hitting $7.27. 1,154,750 shares of the stock traded hands, compared to its average volume of 699,766. The stock has a 50-day moving average of $5.49 and a 200 day moving average of $5.37. The company has a market capitalization of $314.86 million, a P/E ratio of -11.36 and a beta of 1.50. LifeMD has a twelve month low of $3.99 and a twelve month high of $12.88.

Insider Buying and Selling

In related news, CEO Justin Schreiber sold 25,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $5.19, for a total value of $129,750.00. Following the completion of the transaction, the chief executive officer now directly owns 2,703,715 shares of the company's stock, valued at $14,032,280.85. This represents a 0.92 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 15.97% of the company's stock.

Hedge Funds Weigh In On LifeMD

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp boosted its stake in LifeMD by 20.0% during the 3rd quarter. State Street Corp now owns 1,155,495 shares of the company's stock valued at $6,055,000 after purchasing an additional 192,861 shares in the last quarter. Royce & Associates LP boosted its stake in LifeMD by 23.9% during the 4th quarter. Royce & Associates LP now owns 1,115,991 shares of the company's stock valued at $5,524,000 after purchasing an additional 214,950 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in LifeMD by 21.6% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 931,294 shares of the company's stock valued at $4,610,000 after purchasing an additional 165,378 shares in the last quarter. Geode Capital Management LLC boosted its stake in LifeMD by 0.4% during the 4th 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. Finally, Renaissance Technologies LLC boosted its stake in LifeMD by 45.2% during the 4th quarter. Renaissance Technologies LLC now owns 510,000 shares of the company's stock valued at $2,524,000 after purchasing an additional 158,796 shares in the last quarter. 35.52% of the stock is owned by institutional investors.

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.