LifeMD (NASDAQ:LFMD) Upgraded at B. Riley

B. Riley upgraded shares of LifeMD (NASDAQ:LFMD) to a strong-buy rating in a report issued on Tuesday morning,Zacks.com reports.

A number of other equities research analysts also recently weighed in on LFMD. HC Wainwright upped their target price on LifeMD from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Wednesday. Cantor Fitzgerald restated an “overweight” rating and set a $15.00 target price on shares of LifeMD in a report on Tuesday. Mizuho started coverage on LifeMD in a report on Wednesday, December 4th. They issued a “neutral” rating and a $7.00 target price for the company. Lake Street Capital assumed coverage on LifeMD in a report on Tuesday, December 10th. They issued a “buy” rating and a $12.00 target price on the stock. Finally, KeyCorp cut their price objective on LifeMD from $10.00 to $7.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $11.43.

LifeMD Price Performance

NASDAQ:LFMD opened at $5.66 on Tuesday. The firm has a market capitalization of $245.15 million, a P/E ratio of -8.84 and a beta of 1.50. The business has a 50 day simple moving average of $5.68 and a 200 day simple moving average of $5.38. LifeMD has a 12-month low of $3.99 and a 12-month high of $12.88.

LifeMD (NASDAQ:LFMD) last released 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 firm had revenue of $64.26 million for the quarter, compared to the consensus estimate of $57.43 million. Research analysts anticipate that LifeMD will post -0.56 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Justin Schreiber sold 50,000 shares of the business’s 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 transaction, the chief executive officer now directly owns 2,653,715 shares in the company, valued at $20,035,548.25. The trade was a 1.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 15.97% of the stock is owned by insiders.

Institutional Trading of LifeMD

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. State Street Corp lifted its holdings 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 during the last quarter. Royce & Associates LP raised its holdings in shares of LifeMD by 23.9% in the fourth quarter. Royce & Associates LP now owns 1,115,991 shares of the company’s stock valued at $5,524,000 after buying an additional 214,950 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings 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 worth $4,610,000 after acquiring an additional 165,378 shares during the last quarter. Millennium Management LLC raised its stake in shares of LifeMD by 17.1% in the fourth quarter. Millennium Management LLC now owns 885,987 shares of the company’s stock worth $4,386,000 after acquiring an additional 129,327 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of LifeMD by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 822,217 shares of the company’s stock worth $4,071,000 after purchasing an additional 2,984 shares in the last quarter. 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.