LifeMD (NASDAQ:LFMD) Announces Quarterly Earnings Results

LifeMD (NASDAQ:LFMD) announced its quarterly earnings results on Monday. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.02, Zacks reports.

LifeMD Stock Down 8.6 %

Shares of NASDAQ LFMD traded down $0.40 during midday trading on Monday, hitting $4.27. The stock had a trading volume of 3,029,758 shares, compared to its average volume of 779,761. LifeMD has a 1-year low of $3.99 and a 1-year high of $12.88. The company has a market capitalization of $184.94 million, a price-to-earnings ratio of -6.67 and a beta of 1.50. The company has a fifty day moving average price of $5.66 and a 200 day moving average price of $5.38.

Analysts Set New Price Targets

LFMD has been the subject of several research reports. HC Wainwright reaffirmed a “buy” rating and set a $12.00 price objective on shares of LifeMD in a report on Monday, November 11th. 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 target price on the stock. Mizuho assumed coverage on LifeMD in a report on Wednesday, December 4th. They issued a “neutral” rating and a $7.00 price target for the company. Finally, KeyCorp cut their price objective on shares of LifeMD from $10.00 to $7.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, LifeMD currently has an average rating of “Moderate Buy” and a consensus price target of $11.14.

Insider Buying and Selling

In related news, CEO Justin Schreiber sold 50,000 shares of the company’s stock in a transaction on Friday, February 14th. The shares were 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 directly owns 2,653,715 shares of the company’s stock, valued at approximately $20,035,548.25. This represents a 1.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 15.97% 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.