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

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

Other equities analysts have also issued reports about the company. Cantor Fitzgerald reissued an “overweight” rating and set a $15.00 price target on shares of LifeMD in a research report on Tuesday. Mizuho initiated 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. KeyCorp reduced 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. HC Wainwright boosted their price target on LifeMD from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Lake Street Capital initiated coverage on LifeMD in a report on Tuesday, December 10th. They set a “buy” rating and a $12.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $11.43.

LifeMD Price Performance

NASDAQ LFMD opened at $5.77 on Tuesday. The firm has a market capitalization of $249.91 million, a P/E ratio of -9.02 and a beta of 1.50. LifeMD has a 1-year low of $3.99 and a 1-year high of $12.88. The business’s 50-day simple moving average is $5.67 and its 200-day simple moving average is $5.38.

LifeMD (NASDAQ:LFMD) last released its quarterly earnings results on Monday, March 10th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.02. The company had revenue of $64.26 million for the quarter, compared to analyst estimates of $57.43 million. On average, equities research analysts expect that LifeMD will post -0.56 EPS for the current fiscal year.

Insider Activity

In related news, CEO Justin Schreiber sold 50,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 2,653,715 shares in the company, valued at $20,035,548.25. The trade was a 1.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 15.97% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp boosted its position in 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 purchasing an additional 192,861 shares during the period. Royce & Associates LP boosted its position in LifeMD by 23.9% during the 4th quarter. Royce & Associates LP now owns 1,115,991 shares of the company’s stock worth $5,524,000 after acquiring an additional 214,950 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in LifeMD by 21.6% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 931,294 shares of the company’s stock worth $4,610,000 after acquiring an additional 165,378 shares during the period. Millennium Management LLC boosted its position in LifeMD by 17.1% during the 4th quarter. Millennium Management LLC now owns 885,987 shares of the company’s stock worth $4,386,000 after acquiring an additional 129,327 shares during the period. Finally, Geode Capital Management LLC boosted its position in LifeMD by 0.4% during the 4th 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 period. Institutional investors and hedge funds own 35.52% of the company’s stock.

LifeMD Company Profile

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.