B. Riley Upgrades LifeMD (NASDAQ:LFMD) to Strong-Buy

LifeMD (NASDAQ:LFMD) was upgraded by investment analysts at B. Riley to a “strong-buy” rating in a report issued on Tuesday,Zacks.com reports.

A number of other brokerages have also issued reports on LFMD. Lake Street Capital began coverage on LifeMD in a research report on Tuesday, December 10th. They set a “buy” rating and a $12.00 target price on the stock. Mizuho assumed coverage on LifeMD in a research report on Wednesday, December 4th. They set a “neutral” rating and a $7.00 price target on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $15.00 price target on shares of LifeMD in a research report on Tuesday. KeyCorp dropped their price target on LifeMD from $10.00 to $7.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Finally, HC Wainwright upped their price target on LifeMD from $12.00 to $14.00 and gave the company a “buy” rating in a research report on Wednesday. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $11.43.

LifeMD Stock Up 3.6 %

Shares of LifeMD stock opened at $5.77 on Tuesday. The firm has a market cap of $249.91 million, a price-to-earnings ratio of -9.02 and a beta of 1.50. The business has a fifty day simple moving average of $5.67 and a 200-day simple moving average of $5.38. LifeMD has a fifty-two week low of $3.99 and a fifty-two week high of $12.88.

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

Insiders Place Their Bets

In other news, CEO Justin Schreiber sold 25,000 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 2,703,715 shares in the company, valued at approximately $14,032,280.85. This represents a 0.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 15.97% of the company’s stock.

Institutional Trading of LifeMD

Large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its stake in shares of LifeMD by 496.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 88,173 shares of the company’s stock worth $462,000 after acquiring an additional 73,389 shares in the last quarter. State Street Corp boosted its stake in shares of LifeMD by 20.0% during the 3rd quarter. State Street Corp now owns 1,155,495 shares of the company’s stock worth $6,055,000 after acquiring an additional 192,861 shares in the last quarter. Los Angeles Capital Management LLC boosted its stake in shares of LifeMD by 852.6% during the 3rd quarter. Los Angeles Capital Management LLC now owns 121,585 shares of the company’s stock worth $637,000 after acquiring an additional 108,822 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of LifeMD by 11.4% during the 3rd quarter. Geode Capital Management LLC now owns 819,233 shares of the company’s stock worth $4,293,000 after acquiring an additional 83,598 shares in the last quarter. Finally, Mirador Capital Partners LP boosted its stake in shares of LifeMD by 139.3% during the 4th quarter. Mirador Capital Partners LP now owns 106,059 shares of the company’s stock worth $525,000 after acquiring an additional 61,731 shares in the last quarter. Institutional investors own 35.52% of the company’s stock.

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.