LifeMD (NASDAQ:LFMD) Now Covered by Analysts at Lake Street Capital

Lake Street Capital began coverage on shares of LifeMD (NASDAQ:LFMD) in a research note published on Tuesday morning, Marketbeat reports. The brokerage issued a buy rating and a $12.00 target price on the stock.

A number of other research analysts have also recently weighed in on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $15.00 target price on shares of LifeMD in a research note on Friday, September 20th. HC Wainwright reaffirmed a “buy” rating and issued a $12.00 price objective on shares of LifeMD in a research note on Monday, November 11th. Mizuho began coverage on LifeMD in a research note on Wednesday, December 4th. They set a “neutral” rating and a $7.00 target price on the stock. Finally, B. Riley began coverage on LifeMD in a research note on Friday, August 23rd. They issued a “buy” rating and a $11.00 price target for the company. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $11.57.

LifeMD Price Performance

Shares of NASDAQ:LFMD opened at $5.97 on Tuesday. The company has a market capitalization of $258.57 million, a P/E ratio of -9.33 and a beta of 1.37. LifeMD has a 1-year low of $3.99 and a 1-year high of $12.88. The firm’s 50 day simple moving average is $5.26 and its two-hundred day simple moving average is $5.91. The company has a debt-to-equity ratio of 10.83, a current ratio of 0.83 and a quick ratio of 0.78.

Insiders Place Their Bets

In related news, CEO Justin Schreiber sold 25,000 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $6.52, for a total value of $163,000.00. Following the sale, the chief executive officer now owns 2,728,715 shares in the company, valued at approximately $17,791,221.80. The trade was a 0.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 15.97% of the company’s stock.

Hedge Funds Weigh In On LifeMD

Institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp raised its position 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 valued at $6,055,000 after buying an additional 192,861 shares in the last quarter. Vanguard Group Inc. raised its position in LifeMD by 12.5% during the first quarter. Vanguard Group Inc. now owns 1,155,193 shares of the company’s stock valued at $11,875,000 after purchasing an additional 128,701 shares during the period. Royce & Associates LP lifted its stake in shares of LifeMD by 14.6% in the 3rd quarter. Royce & Associates LP now owns 901,041 shares of the company’s stock valued at $4,721,000 after purchasing an additional 114,710 shares during the last quarter. Los Angeles Capital Management LLC boosted its holdings in shares of LifeMD by 852.6% in the 3rd quarter. Los Angeles Capital Management LLC now owns 121,585 shares of the company’s stock worth $637,000 after purchasing an additional 108,822 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of LifeMD by 63.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 234,583 shares of the company’s stock valued at $1,609,000 after purchasing an additional 91,183 shares during the last quarter. 35.52% of the stock is 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.