LifeMD (NASDAQ:LFMD) Shares Up 2.3% – Still a Buy?

LifeMD, Inc. (NASDAQ:LFMD) rose 2.3% during mid-day trading on Thursday . The company traded as high as $3.72 and last traded at $3.62. Approximately 963,188 shares changed hands during trading, a decline of 6% from the average daily volume of 1,024,055 shares. The stock had previously closed at $3.54.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on LFMD shares. Lake Street Capital dropped their price target on LifeMD from $14.00 to $8.00 and set a “buy” rating on the stock in a research report on Tuesday, November 18th. HC Wainwright dropped their price objective on shares of LifeMD from $13.00 to $9.00 and set a “buy” rating on the stock in a report on Wednesday, November 19th. Loop Capital set a $8.00 price objective on shares of LifeMD in a research report on Monday, November 24th. BTIG Research reduced their target price on shares of LifeMD from $18.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, November 18th. Finally, Zacks Research raised LifeMD from a “strong sell” rating to a “hold” rating in a research note on Friday, December 19th. Six research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $9.25.

LifeMD Trading Up 2.3%

The company has a market cap of $174.27 million, a P/E ratio of -21.29 and a beta of 1.45. The business has a 50 day moving average price of $3.72 and a 200-day moving average price of $6.08.

LifeMD (NASDAQ:LFMD) last issued its earnings results on Monday, November 17th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.04). The company had revenue of $60.17 million for the quarter, compared to analyst estimates of $62.07 million. During the same period in the prior year, the business earned $0.09 EPS. On average, sell-side analysts expect that LifeMD, Inc. will post -0.56 earnings per share for the current year.

Insider Transactions at LifeMD

In other LifeMD news, CMO Jessica Friedeman sold 15,000 shares of the stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $3.61, for a total transaction of $54,150.00. Following the transaction, the chief marketing officer owned 205,000 shares in the company, valued at $740,050. This trade represents a 6.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 18.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On LifeMD

Several hedge funds have recently bought and sold shares of LFMD. Vanguard Group Inc. lifted its holdings in shares of LifeMD by 6.7% during the 3rd quarter. Vanguard Group Inc. now owns 2,226,871 shares of the company’s stock worth $15,120,000 after acquiring an additional 140,749 shares during the period. Geode Capital Management LLC lifted its stake in LifeMD by 7.9% during the second quarter. Geode Capital Management LLC now owns 925,173 shares of the company’s stock worth $12,603,000 after purchasing an additional 67,440 shares during the last quarter. Royce & Associates LP boosted its holdings in shares of LifeMD by 5.7% in the 3rd quarter. Royce & Associates LP now owns 814,451 shares of the company’s stock valued at $5,530,000 after purchasing an additional 44,000 shares in the last quarter. Jump Financial LLC boosted its holdings in shares of LifeMD by 205.0% in the 2nd quarter. Jump Financial LLC now owns 515,052 shares of the company’s stock valued at $7,015,000 after purchasing an additional 346,171 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of LifeMD by 1,767.8% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 434,937 shares of the company’s stock valued at $5,924,000 after purchasing an additional 411,651 shares during the last quarter. 35.52% of the stock is owned by institutional investors.

About LifeMD

LifeMD (NASDAQ: LFMD) is a U.S.-based telehealth company that delivers on-demand, membership-based virtual healthcare services. Through its digital platform and mobile applications, LifeMD connects patients with board-certified healthcare providers for diagnosis, treatment and ongoing management of a range of acute and chronic conditions. The company’s core offering centers on personalized care plans supported by prescription fulfillment, lab testing and prescription delivery services.

LifeMD’s service portfolio spans several specialty areas, including men’s health, hormonal therapy, weight management and primary care.