LifeMD (NASDAQ:LFMD) Earns “Overweight” Rating from Cantor Fitzgerald

LifeMD (NASDAQ:LFMD)‘s stock had its “overweight” rating reaffirmed by equities research analysts at Cantor Fitzgerald in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $15.00 price objective on the stock. Cantor Fitzgerald’s price target indicates a potential upside of 180.48% from the company’s current price.

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

LifeMD Stock Performance

LFMD stock traded up $1.08 during trading on Tuesday, reaching $5.35. 2,518,478 shares of the company were exchanged, compared to its average volume of 789,544. The company has a market cap of $231.63 million, a P/E ratio of -8.39 and a beta of 1.50. LifeMD has a 52-week low of $3.99 and a 52-week high of $12.88. The stock’s 50 day moving average price is $5.64 and its 200 day moving average price is $5.37.

LifeMD (NASDAQ:LFMD) last issued its quarterly earnings data on Monday, March 10th. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.02. The business had revenue of $64.26 million during the quarter, compared to analyst estimates of $57.43 million. As a group, equities research analysts forecast that LifeMD will post -0.56 EPS for the current year.

Insider Transactions at LifeMD

In other news, CEO Justin Schreiber sold 50,000 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $7.55, for a total transaction of $377,500.00. Following the completion of the sale, the chief executive officer now owns 2,653,715 shares in the company, valued at approximately $20,035,548.25. This represents a 1.85 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 15.97% of the company’s stock.

Institutional Investors Weigh In On LifeMD

Several hedge funds have recently made changes to their positions in the company. State Street Corp lifted its stake in LifeMD by 20.0% in 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. Royce & Associates LP boosted its holdings in shares of LifeMD by 23.9% during the fourth quarter. Royce & Associates LP now owns 1,115,991 shares of the company’s stock worth $5,524,000 after purchasing an additional 214,950 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in LifeMD by 21.6% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 931,294 shares of the company’s stock worth $4,610,000 after buying an additional 165,378 shares in the last quarter. Millennium Management LLC boosted its stake in shares of LifeMD by 17.1% during the 4th quarter. Millennium Management LLC now owns 885,987 shares of the company’s stock valued at $4,386,000 after buying an additional 129,327 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of LifeMD by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 822,217 shares of the company’s stock worth $4,071,000 after acquiring an additional 2,984 shares during the last quarter. Hedge funds and other 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.