LifeMD (NASDAQ:LFMD) Trading 2.3% Higher – Here’s Why

Shares of LifeMD, Inc. (NASDAQ:LFMD) were up 2.3% on Thursday . The stock traded as high as $3.72 and last traded at $3.62. Approximately 963,188 shares were traded during trading, a decline of 6% from the average daily volume of 1,024,055 shares. The stock had previously closed at $3.54.

Analyst Ratings Changes

A number of research firms have issued reports on LFMD. B. Riley decreased their target price on LifeMD from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, November 18th. Wall Street Zen downgraded shares of LifeMD from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. Lake Street Capital lowered their price objective on shares of LifeMD from $14.00 to $8.00 and set a “buy” rating for the company in a research report on Tuesday, November 18th. HC Wainwright dropped their price objective on shares of LifeMD from $13.00 to $9.00 and set a “buy” rating for the company in a research note on Wednesday, November 19th. Finally, BTIG Research cut their target price on shares of LifeMD from $18.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, November 18th. Six investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $9.25.

LifeMD Trading Up 2.3%

The firm has a market capitalization of $174.27 million, a price-to-earnings ratio of -21.29 and a beta of 1.45. The firm’s 50-day moving average is $3.72 and its 200 day moving average is $6.08.

LifeMD (NASDAQ:LFMD) last announced its quarterly earnings results on Monday, November 17th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.04). The business had revenue of $60.17 million for the quarter, compared to analysts’ expectations of $62.07 million. During the same period in the prior year, the business posted $0.09 EPS. Analysts predict that LifeMD, Inc. will post -0.56 EPS for the current year.

Insiders Place Their Bets

In related news, CMO Jessica Friedeman sold 15,000 shares of the firm’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $3.61, for a total transaction of $54,150.00. Following the completion of the transaction, the chief marketing officer directly owned 205,000 shares of the company’s stock, valued at $740,050. This trade represents a 6.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 18.40% of the stock is owned by insiders.

Institutional Investors Weigh In On LifeMD

Institutional investors and hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC lifted its stake in shares of LifeMD by 13.8% in the fourth quarter. SG Americas Securities LLC now owns 25,298 shares of the company’s stock worth $86,000 after acquiring an additional 3,061 shares during the period. Magnus Financial Group LLC bought a new position in LifeMD during the 4th quarter worth approximately $41,000. Connective Capital Management LLC bought a new position in LifeMD during the 3rd quarter worth approximately $566,000. PharVision Advisers LLC acquired a new position in shares of LifeMD in the 3rd quarter worth approximately $292,000. Finally, XTX Topco Ltd boosted its stake in shares of LifeMD by 100.6% in the 3rd quarter. XTX Topco Ltd now owns 75,546 shares of the company’s stock valued at $513,000 after purchasing an additional 37,886 shares during the last quarter. Institutional investors and hedge funds own 35.52% of the company’s stock.

LifeMD Company Profile

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.