LifeMD (NASDAQ:LFMD) Sets New 1-Year High – Time to Buy?

LifeMD, Inc. (NASDAQ:LFMD)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $12.19 and last traded at $12.01, with a volume of 767917 shares trading hands. The stock had previously closed at $11.53.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on LFMD. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $15.00 price target on shares of LifeMD in a report on Tuesday, March 11th. B. Riley upgraded LifeMD to a “strong-buy” rating in a research report on Tuesday, March 11th. Finally, HC Wainwright reissued a “buy” rating and issued a $14.00 price target on shares of LifeMD in a research note on Wednesday, April 30th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $11.00.

LifeMD Stock Performance

The company has a 50 day moving average of $6.95 and a 200 day moving average of $6.14. The stock has a market capitalization of $527.11 million, a price-to-earnings ratio of -18.18 and a beta of 2.22.

LifeMD (NASDAQ:LFMD) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.05. The company had revenue of $65.70 million during the quarter, compared to analyst estimates of $62.47 million. On average, equities analysts predict that LifeMD, Inc. will post -0.56 EPS for the current fiscal year.

Insider Buying and Selling at LifeMD

In other LifeMD news, CEO Justin Schreiber sold 21,995 shares of the company’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $7.53, for a total transaction of $165,622.35. Following the transaction, the chief executive officer now directly owns 2,553,726 shares in the company, valued at $19,229,556.78. This represents a 0.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Jessica Friedeman sold 30,000 shares of LifeMD stock in a transaction on Friday, March 14th. The shares were sold at an average price of $5.66, for a total value of $169,800.00. Following the completion of the sale, the chief marketing officer now directly owns 170,000 shares of the company’s stock, valued at $962,200. The trade was a 15.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 101,995 shares of company stock worth $724,422 over the last quarter. 15.97% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On LifeMD

Several institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC acquired a new stake in LifeMD during the 1st quarter worth approximately $35,000. CWM LLC grew its stake in LifeMD by 17.5% during the 1st quarter. CWM LLC now owns 9,050 shares of the company’s stock worth $49,000 after purchasing an additional 1,351 shares in the last quarter. ProShare Advisors LLC acquired a new position in LifeMD during the 4th quarter worth $51,000. Oxford Asset Management LLP acquired a new stake in LifeMD in the 4th quarter valued at about $52,000. Finally, Balyasny Asset Management L.P. purchased a new position in shares of LifeMD in the 4th quarter valued at about $52,000. 35.52% of the stock is owned by institutional investors and hedge funds.

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.