LifeMD (NASDAQ:LFMD) Now Covered by Lake Street Capital

Lake Street Capital initiated coverage on shares of LifeMD (NASDAQ:LFMD - Free Report) in a report published on Tuesday, Marketbeat reports. The brokerage issued a buy rating and a $12.00 price objective on the stock.

Other equities research analysts have also issued reports about the company. Mizuho started coverage on LifeMD in a research report on Wednesday, December 4th. They issued a "neutral" rating and a $7.00 price target for the company. B. Riley started coverage on shares of LifeMD in a research note on Friday, August 23rd. They issued a "buy" rating and a $11.00 target price for the company. Cantor Fitzgerald reissued an "overweight" rating and set a $15.00 price target on shares of LifeMD in a research report on Friday, September 20th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $12.00 price objective on shares of LifeMD in a research report on Monday, November 11th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $11.57.

LifeMD Stock Up 1.2 %

LFMD traded up $0.07 during midday trading on Tuesday, reaching $5.97. 596,842 shares of the company were exchanged, compared to its average volume of 742,794. The company has a market cap of $258.57 million, a price-to-earnings ratio of -9.22 and a beta of 1.37. LifeMD has a one year low of $3.99 and a one year high of $12.88. The company's fifty day moving average price is $5.24 and its 200 day moving average price is $5.93. The company has a debt-to-equity ratio of 10.83, a quick ratio of 0.78 and a current ratio of 0.83.

Insider Buying and Selling

In other LifeMD news, CEO Justin Schreiber sold 25,000 shares of the firm's stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $6.52, for a total value of $163,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,728,715 shares of the company's stock, valued at $17,791,221.80. This trade represents a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 15.97% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in LifeMD by 12.5% during the first quarter. Vanguard Group Inc. now owns 1,155,193 shares of the company's stock valued at $11,875,000 after purchasing an additional 128,701 shares during the last quarter. Calamos Advisors LLC purchased a new stake in shares of LifeMD during the 2nd quarter valued at approximately $394,000. Bank of New York Mellon Corp boosted its holdings in LifeMD by 63.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 234,583 shares of the company's stock worth $1,609,000 after buying an additional 91,183 shares during the period. Rhumbline Advisers purchased a new position in LifeMD in the 2nd quarter valued at approximately $326,000. Finally, Los Angeles Capital Management LLC bought a new stake in LifeMD during the 2nd quarter valued at $88,000. Institutional investors 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.