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

LifeMD, Inc. (NASDAQ:LFMD) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $11.18 and last traded at $11.14, with a volume of 1328403 shares traded. The stock had previously closed at $10.58.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $15.00 price objective on shares of LifeMD in a research note on Tuesday, March 11th. B. Riley raised shares of LifeMD to a “strong-buy” rating in a research note on Tuesday, March 11th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $14.00 target price on shares of LifeMD in a research report on Wednesday, April 30th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, LifeMD currently has a consensus rating of “Buy” and an average target price of $11.00.

LifeMD Price Performance

The firm has a market capitalization of $484.93 million, a PE ratio of -16.67 and a beta of 2.22. The stock’s 50-day moving average price is $6.41 and its 200 day moving average price is $5.92.

LifeMD (NASDAQ:LFMD) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.01 earnings per share (EPS) 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 analysts’ expectations of $62.47 million. Equities research analysts forecast that LifeMD, Inc. will post -0.56 earnings per share for the current fiscal year.

Insider Activity at LifeMD

In other LifeMD news, CEO Justin Schreiber sold 50,000 shares of LifeMD stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $7.78, for a total value of $389,000.00. Following the transaction, the chief executive officer now directly owns 2,575,721 shares of the company’s stock, valued at approximately $20,039,109.38. The trade was a 1.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Jessica Friedeman sold 30,000 shares of LifeMD stock in a transaction on Friday, March 14th. The stock was sold at an average price of $5.66, for a total transaction of $169,800.00. Following the completion of the transaction, the chief marketing officer now directly owns 170,000 shares in the company, valued at $962,200. This represents a 15.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 101,995 shares of company stock valued at $724,422 over the last ninety days. 15.97% of the stock is owned by company insiders.

Hedge Funds Weigh In On LifeMD

Institutional investors and hedge funds have recently bought and sold shares of the company. Barclays PLC lifted its stake in shares of LifeMD by 311.7% during the third quarter. Barclays PLC now owns 49,017 shares of the company’s stock worth $257,000 after buying an additional 37,112 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of LifeMD by 496.4% during the third quarter. JPMorgan Chase & Co. now owns 88,173 shares of the company’s stock worth $462,000 after buying an additional 73,389 shares during the period. Magnus Financial Group LLC lifted its stake in shares of LifeMD by 31.1% during the fourth quarter. Magnus Financial Group LLC now owns 16,000 shares of the company’s stock worth $79,000 after buying an additional 3,792 shares during the period. Rhumbline Advisers lifted its stake in shares of LifeMD by 6.1% during the fourth quarter. Rhumbline Advisers now owns 48,689 shares of the company’s stock worth $241,000 after buying an additional 2,814 shares during the period. Finally, Los Angeles Capital Management LLC lifted its stake in shares of LifeMD by 4.8% during the fourth quarter. Los Angeles Capital Management LLC now owns 127,435 shares of the company’s stock worth $631,000 after buying an additional 5,850 shares during the period. 35.52% of the stock is owned by hedge funds and other 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.