LifeMD (NASDAQ:LFMD) Announces Earnings Results

LifeMD (NASDAQ:LFMD) issued its earnings results on Monday. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.42, FiscalAI reports. The firm had revenue of $46.87 million during the quarter, compared to the consensus estimate of $48.57 million.

LifeMD Price Performance

Shares of LifeMD stock traded up $0.12 during trading hours on Monday, reaching $3.12. The company had a trading volume of 2,229,817 shares, compared to its average volume of 987,546. The firm has a market cap of $150.18 million, a PE ratio of -18.35 and a beta of 1.92. LifeMD has a one year low of $2.56 and a one year high of $15.84. The business has a fifty day simple moving average of $3.30 and a 200 day simple moving average of $4.60.

Insider Buying and Selling

In other news, CMO Jessica Friedeman sold 15,000 shares of the company’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $3.61, for a total transaction of $54,150.00. Following the sale, the chief marketing officer directly owned 205,000 shares in the company, valued at $740,050. This represents a 6.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 18.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Virtu Financial LLC bought a new position in shares of LifeMD during the 4th quarter valued at about $155,000. Invesco Ltd. grew its position in LifeMD by 18.8% during the fourth quarter. Invesco Ltd. now owns 24,464 shares of the company’s stock valued at $83,000 after acquiring an additional 3,870 shares during the last quarter. XTX Topco Ltd lifted its holdings in shares of LifeMD by 9.0% in the 4th quarter. XTX Topco Ltd now owns 82,360 shares of the company’s stock worth $281,000 after acquiring an additional 6,814 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of LifeMD by 220.8% in the 4th quarter. Millennium Management LLC now owns 216,836 shares of the company’s stock worth $739,000 after acquiring an additional 149,234 shares during the last quarter. Finally, Bridgeway Capital Management LLC boosted its stake in shares of LifeMD by 74.4% in the 4th quarter. Bridgeway Capital Management LLC now owns 76,200 shares of the company’s stock valued at $260,000 after purchasing an additional 32,500 shares in the last quarter. Institutional investors own 35.52% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Wall Street Zen downgraded LifeMD from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. Mizuho dropped their price objective on shares of LifeMD from $8.00 to $6.00 and set a “neutral” rating on the stock in a report on Wednesday, November 19th. 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. Lake Street Capital reduced their target price on shares of LifeMD from $14.00 to $8.00 and set a “buy” rating for the company in a research note on Tuesday, November 18th. Finally, B. Riley Financial lowered their price target on shares of LifeMD from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, November 18th. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $9.25.

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.