Royce & Associates LP recently announced the acquisition of new stake in LifeMD Inc. (NASDAQ:LFMD). The institutional investor has increased its shareholding in the Healthcare company by 43.89% to 0.85 million shares with purchase of 0.26 million shares. This fresh investment now brings its stake to 2.71% valued currently at $1.65 million. In addition, Shah Capital Management, Inc. raised its holdings by 0.15 million to 0.56 million shares. And Geode Capital Management LLC has lifted its position by 0.49% or 939.0 shares – to 0.19 million shares.
With over 0.13 million LifeMD Inc. (LFMD) shares trading Friday and a closing price of $2.01 on the day, the dollar volume was approximately $0.27 million. The shares have shown a negative half year performance of -3.37% and its price on 01/13/23 gained nearly 4.15%. Currently, there are 30.94M common shares owned by the public and among those 23.45M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for LFMD have a consensus price objective of $8.00. The analysts have set the share’s price value over the next 12 months at a high of $8.00 and a low of $8.00. The average price target is 74.88% above its recent price level and an upside to the estimated low will see the stock gain 74.88% over that period. But an upside of 74.88% will see the stock hit the forecast high price target while median target price for the stock is $8.00.
Insiders at the company have transacted a total of 10 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 9 of these insider trades were purchases, accounting for 309,500 shares. Insider sales of the common stock occurred on 1 occasions, with total insider shares sold totaling 60,000 shares.
The top 3 mutual fund holders in LifeMD Inc. are Royce Small-Cap Opportunity Fund, Vanguard Total Stock Market Index, and Legg Mason Global Funds Plc – Roy. Royce Small-Cap Opportunity Fund owns 0.56 million shares of the company’s stock, all valued at over $1.08 million. The company bought an additional 0.18 million shares recently to bring their total holdings to about 1.77% of the shares outstanding. Legg Mason Global Funds Plc – Roy bought 75411.0 shares to bring its total holdings to over 0.27 million shares at a value of $0.52 million. Legg Mason Global Funds Plc – Roy now owns shares totaling to 0.86% of the shares outstanding.
Shares of LifeMD Inc. (NASDAQ: LFMD) opened at $1.94, up $0.01 from a prior closing price of $1.93. However, the script later moved the day high at 2.0100, up 4.15%. The company’s stock has a 5-day price change of 4.15% and -7.80% over the past three months. LFMD shares are trading 3.61% year to date (YTD), with the 12-month market performance down to -45.68% lower. It has a 12-month low price of $1.72 and touched a high of $4.32 over the same period. LFMD has an average intraday trading volume of 98.52K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -0.12%, -10.19%, and -15.14% respectively.
Institutional ownership of LifeMD Inc. (NASDAQ: LFMD) shares accounts for 18.50% of the company’s 30.94M shares outstanding. Mutual fund holders own 28.79%, while other institutional holders and individual stakeholders account for 6.36% and 11.50% respectively.
It has a market capitalization of $60.70M and a beta (3y monthly) value of 1.34. The earnings-per-share (ttm) stands at -$1.79. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.40% over the week and 8.27% over the month.
Analysts forecast that LifeMD Inc. (LFMD) will achieve an EPS of -$0.28 for the current quarter, -$0.22 for the next quarter and -$0.43 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.3 while analysts give the company a high EPS estimate of -$0.27. Comparatively, EPS for the current quarter was -$0.54 a year ago. Earnings per share for the fiscal year are expected to increase by 48.50%, and 57.50% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 1 brokerage firm advisors rate LifeMD Inc. (LFMD) as a “Strong Buy” at a consensus score of 1.00. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 0 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the LFMD, a number of firms have released research notes about the stock. Colliers Securities stated their Buy rating for the stock in a research note on March 10, 2022, with the firm’s price target at $14. B. Riley Securities coverage for the LifeMD Inc. (LFMD) stock in a research note released on October 04, 2021 offered a Buy rating with a price target of $16.