LifeMD’s (LFMD) “Overweight” Rating Reiterated at Cantor Fitzgerald

LifeMD (NASDAQ:LFMD)‘s stock had its “overweight” rating reiterated by research analysts at Cantor Fitzgerald in a research note issued on Tuesday,Benzinga reports. They currently have a $15.00 price objective on the stock. Cantor Fitzgerald’s price target would indicate a potential upside of 180.48% from the stock’s current price.

Several other research analysts also recently weighed in on the stock. Lake Street Capital assumed coverage on shares of LifeMD in a research report on Tuesday, December 10th. They set a “buy” rating and a $12.00 price target for the company. Mizuho started coverage on shares of LifeMD in a research note on Wednesday, December 4th. They set a “neutral” rating and a $7.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and issued a $12.00 price target on shares of LifeMD in a report on Monday, November 11th. Finally, KeyCorp lowered their price objective on LifeMD from $10.00 to $7.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, LifeMD currently has an average rating of “Moderate Buy” and an average price target of $11.14.

LifeMD Trading Up 25.2 %

Shares of LFMD stock traded up $1.08 during trading hours on Tuesday, reaching $5.35. 2,518,478 shares of the company’s stock were exchanged, compared to its average volume of 789,544. LifeMD has a fifty-two week low of $3.99 and a fifty-two week high of $12.88. The stock’s 50 day moving average is $5.64 and its 200-day moving average is $5.37. The company has a market cap of $231.63 million, a price-to-earnings ratio of -8.39 and a beta of 1.50.

LifeMD (NASDAQ:LFMD) last announced its quarterly earnings results on Monday, March 10th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.02. The company had revenue of $64.26 million during the quarter, compared to analyst estimates of $57.43 million. Equities analysts anticipate that LifeMD will post -0.56 EPS for the current year.

Insider Buying and Selling

In other news, CEO Justin Schreiber sold 25,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $5.19, for a total transaction of $129,750.00. Following the completion of the transaction, the chief executive officer now directly owns 2,703,715 shares in the company, valued at $14,032,280.85. This trade represents a 0.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 15.97% of the company’s stock.

Hedge Funds Weigh In On LifeMD

Several hedge funds have recently added to or reduced their stakes in the stock. Prudential Financial Inc. lifted its holdings in shares of LifeMD by 19.3% in the 4th quarter. Prudential Financial Inc. now owns 13,605 shares of the company’s stock valued at $67,000 after purchasing an additional 2,200 shares during the last quarter. Rhumbline Advisers grew its position in LifeMD by 6.1% during the 4th quarter. Rhumbline Advisers now owns 48,689 shares of the company’s stock worth $241,000 after purchasing an additional 2,814 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of LifeMD by 26.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,012 shares of the company’s stock valued at $70,000 after buying an additional 2,895 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of LifeMD by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 822,217 shares of the company’s stock worth $4,071,000 after buying an additional 2,984 shares during the period. Finally, Magnus Financial Group LLC grew its holdings 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 last quarter. 35.52% of the stock is currently owned by hedge funds and other institutional investors.

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.