LifeMD (NASDAQ:LFMD) Releases Earnings Results, Beats Expectations By $0.42 EPS

LifeMD (NASDAQ:LFMD) issued its quarterly earnings results on Monday. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.42, FiscalAI reports. The company had revenue of $46.87 million during the quarter, compared to analysts’ expectations of $48.57 million.

LifeMD Stock Performance

Shares of NASDAQ LFMD traded up $0.12 during trading on Monday, hitting $3.12. 2,279,222 shares of the company were exchanged, compared to its average volume of 987,546. LifeMD has a 12-month low of $2.56 and a 12-month high of $15.84. The company has a fifty day moving average price of $3.30 and a 200-day moving average price of $4.60. The firm has a market capitalization of $150.18 million, a PE ratio of -18.35 and a beta of 1.92.

Insider Activity

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of LifeMD by 6.7% during the third quarter. Vanguard Group Inc. now owns 2,226,871 shares of the company’s stock valued at $15,120,000 after acquiring an additional 140,749 shares during the last quarter. Federated Hermes Inc. lifted its holdings in shares of LifeMD by 278.1% in the 4th quarter. Federated Hermes Inc. now owns 980,285 shares of the company’s stock worth $3,343,000 after acquiring an additional 721,018 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of LifeMD by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 959,700 shares of the company’s stock worth $3,273,000 after purchasing an additional 11,324 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in LifeMD by 1,767.8% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 434,937 shares of the company’s stock valued at $5,924,000 after purchasing an additional 411,651 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in LifeMD by 581.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 412,571 shares of the company’s stock valued at $5,619,000 after purchasing an additional 352,004 shares during the last quarter. Hedge funds and other institutional investors own 35.52% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Weiss Ratings restated a “sell (e+)” rating on shares of LifeMD in a research report on Monday, December 29th. Wall Street Zen lowered LifeMD from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. Loop Capital set a $8.00 target price on shares of LifeMD in a report on Monday, November 24th. KeyCorp decreased their price target on shares of LifeMD from $12.00 to $8.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 19th. Finally, B. Riley Financial lowered their price target on shares of LifeMD from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, November 18th. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, LifeMD has an average rating of “Moderate Buy” and a consensus target price of $9.25.

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.