LifeMD (NASDAQ:LFMD) Trading 5.2% Higher – Time to Buy?

Shares of LifeMD, Inc. (NASDAQ:LFMD) were up 5.2% on Tuesday . The stock traded as high as $14.01 and last traded at $14.17. Approximately 629,177 shares were traded during mid-day trading, a decline of 39% from the average daily volume of 1,033,769 shares. The stock had previously closed at $13.47.

Wall Street Analyst Weigh In

Several research analysts have weighed in on LFMD shares. HC Wainwright reaffirmed a “buy” rating and issued a $14.00 target price on shares of LifeMD in a research report on Wednesday, April 30th. B. Riley raised LifeMD to a “strong-buy” rating in a research report on Tuesday, March 11th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $15.00 target price on shares of LifeMD in a research report on Tuesday, March 11th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $11.00.

LifeMD Trading Up 2.3%

The firm has a market cap of $626.00 million, a price-to-earnings ratio of -21.43 and a beta of 2.42. The stock has a fifty day moving average price of $9.02 and a 200 day moving average price of $6.79.

LifeMD (NASDAQ:LFMD) last announced its earnings results on Tuesday, May 6th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.05. The business had revenue of $65.70 million for the quarter, compared to the consensus estimate of $62.47 million. On average, sell-side analysts forecast that LifeMD, Inc. will post -0.56 EPS for the current year.

Insider Buying and Selling

In related news, CEO Justin Schreiber sold 25,000 shares of the firm’s stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $12.47, for a total transaction of $311,750.00. Following the completion of the sale, the chief executive officer now directly owns 2,525,721 shares of the company’s stock, valued at $31,495,740.87. This trade represents a 0.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold 96,995 shares of company stock worth $866,372 in the last 90 days. 18.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On LifeMD

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

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.