LifeMD (NASDAQ:LFMD) Given New $14.00 Price Target at HC Wainwright

LifeMD (NASDAQ:LFMD) had its price target increased by HC Wainwright from $12.00 to $14.00 in a report issued on Wednesday, MarketBeat reports. The firm currently has a buy rating on the stock.

A number of other research analysts have also issued reports on LFMD. Lake Street Capital began coverage on shares of LifeMD in a research note on Tuesday, December 10th. They issued a “buy” rating and a $12.00 target price on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $15.00 target price on shares of LifeMD in a research note on Tuesday. Mizuho began coverage on shares of LifeMD in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $7.00 target price on the stock. Finally, KeyCorp lowered their target price on shares of LifeMD from $10.00 to $7.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $11.43.

LifeMD Stock Up 3.6 %

Shares of LFMD opened at $5.77 on Wednesday. The company’s fifty day moving average is $5.67 and its 200-day moving average is $5.38. LifeMD has a 12 month low of $3.99 and a 12 month high of $12.88. The firm has a market cap of $249.91 million, a price-to-earnings ratio of -9.02 and a beta of 1.50.

LifeMD (NASDAQ:LFMD) last announced its quarterly earnings results on Monday, March 10th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.02. The business had revenue of $64.26 million for the quarter, compared to analyst estimates of $57.43 million. As a group, research analysts predict that LifeMD will post -0.56 earnings per share for the current fiscal year.

Insider Buying and Selling at LifeMD

In other LifeMD news, CEO Justin Schreiber sold 50,000 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $7.55, for a total value of $377,500.00. Following the completion of the sale, the chief executive officer now directly owns 2,653,715 shares of the company’s stock, valued at $20,035,548.25. This represents a 1.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 15.97% of the company’s stock.

Hedge Funds Weigh In On LifeMD

A number of hedge funds and other institutional investors have recently made changes to their positions in LFMD. Los Angeles Capital Management LLC lifted its holdings in shares of LifeMD by 852.6% during the 3rd quarter. Los Angeles Capital Management LLC now owns 121,585 shares of the company’s stock worth $637,000 after acquiring an additional 108,822 shares during the period. Royce & Associates LP lifted its holdings in shares of LifeMD by 14.6% during the 3rd quarter. Royce & Associates LP now owns 901,041 shares of the company’s stock worth $4,721,000 after acquiring an additional 114,710 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of LifeMD by 6.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 765,916 shares of the company’s stock worth $4,013,000 after acquiring an additional 48,201 shares during the period. Intech Investment Management LLC bought a new position in shares of LifeMD during the 3rd quarter worth about $54,000. Finally, Integrated Investment Consultants LLC bought a new position in shares of LifeMD during the 3rd quarter worth about $129,000. 35.52% of the stock is owned by institutional investors.

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.