Lake Street Capital Initiates Coverage on LifeMD (NASDAQ:LFMD)

Equities researchers at Lake Street Capital assumed coverage on shares of LifeMD (NASDAQ:LFMD) in a research report issued to clients and investors on Tuesday, Marketbeat reports. The brokerage set a “buy” rating and a $12.00 price target on the stock. Lake Street Capital’s price objective would indicate a potential upside of 113.90% from the stock’s previous close.

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

LifeMD Stock Performance

Shares of NASDAQ:LFMD opened at $5.61 on Tuesday. The firm’s 50 day simple moving average is $5.27 and its 200-day simple moving average is $5.91. The company has a debt-to-equity ratio of 10.83, a quick ratio of 0.78 and a current ratio of 0.83. LifeMD has a one year low of $3.99 and a one year high of $12.88. The firm has a market cap of $242.98 million, a PE ratio of -8.77 and a beta of 1.37.

Insider Buying and Selling

In related news, CEO Justin Schreiber sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $6.52, for a total transaction of $163,000.00. Following the completion of the transaction, the chief executive officer now owns 2,728,715 shares in the company, valued at $17,791,221.80. The trade was a 0.91 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 15.97% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On LifeMD

Several institutional investors and hedge funds have recently bought and sold shares of LFMD. Barclays PLC lifted its holdings in shares of LifeMD by 311.7% during the 3rd quarter. Barclays PLC now owns 49,017 shares of the company’s stock valued at $257,000 after purchasing an additional 37,112 shares during the last quarter. Geode Capital Management LLC increased its position in LifeMD by 11.4% during the 3rd quarter. Geode Capital Management LLC now owns 819,233 shares of the company’s stock valued at $4,293,000 after buying an additional 83,598 shares in the last quarter. XTX Topco Ltd raised its stake in LifeMD by 306.8% in the third quarter. XTX Topco Ltd now owns 55,738 shares of the company’s stock valued at $292,000 after buying an additional 42,037 shares during the last quarter. State Street Corp boosted its holdings in LifeMD by 20.0% in the third 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. Finally, Centiva Capital LP purchased a new stake in shares of LifeMD during the third quarter worth about $196,000. 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.