Brokerages Set LifeMD, Inc. (NASDAQ:LFMD) PT at $11.14

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

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

LifeMD Trading Down 3.3 %

NASDAQ:LFMD traded down $0.16 during midday trading on Friday, reaching $4.67. The company had a trading volume of 1,867,035 shares, compared to its average volume of 770,638. The firm has a market capitalization of $202.27 million, a price-to-earnings ratio of -7.30 and a beta of 1.50. The stock's fifty day simple moving average is $5.66 and its 200-day simple moving average is $5.38. LifeMD has a 12-month low of $3.99 and a 12-month high of $12.88.

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Insider Transactions at LifeMD

In other news, CEO Justin Schreiber sold 50,000 shares of LifeMD 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 sale, the chief executive officer now owns 2,653,715 shares in the company, valued at approximately $20,035,548.25. The trade was a 1.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 15.97% of the company's stock.

Hedge Funds Weigh In On LifeMD

Several institutional investors have recently added to or reduced their stakes in the stock. State Street Corp increased its position in LifeMD by 20.0% in the 3rd quarter. State Street Corp now owns 1,155,495 shares of the company's stock valued at $6,055,000 after acquiring an additional 192,861 shares during the period. Royce & Associates LP increased its position in LifeMD by 23.9% in the 4th quarter. Royce & Associates LP now owns 1,115,991 shares of the company's stock valued at $5,524,000 after acquiring an additional 214,950 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in LifeMD by 21.6% in 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 acquiring an additional 165,378 shares during the period. Millennium Management LLC increased its position in LifeMD by 17.1% in the 4th quarter. Millennium Management LLC now owns 885,987 shares of the company's stock valued at $4,386,000 after acquiring an additional 129,327 shares during the period. Finally, Geode Capital Management LLC increased its position in LifeMD by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 822,217 shares of the company's stock valued at $4,071,000 after acquiring an additional 2,984 shares during the period. Institutional investors and hedge funds own 35.52% of the company's stock.

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.