Insider Selling: LifeMD, Inc. (NASDAQ:LFMD) CMO Sells $169,800.00 in Stock

LifeMD, Inc. (NASDAQ:LFMD) CMO Jessica Friedeman sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $5.66, for a total value of $169,800.00. Following the sale, the chief marketing officer now owns 170,000 shares of the company’s stock, valued at approximately $962,200. This represents a 15.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

LifeMD Stock Up 1.2 %

Shares of LFMD stock opened at $5.72 on Thursday. The business has a fifty day simple moving average of $5.70 and a 200 day simple moving average of $5.40. The company has a market cap of $255.02 million, a P/E ratio of -8.94 and a beta of 1.50. LifeMD, Inc. has a twelve month low of $3.99 and a twelve month high of $12.88.

LifeMD (NASDAQ:LFMD) last posted its earnings results on Monday, March 10th. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02. The company had revenue of $64.26 million during the quarter, compared to the consensus estimate of $57.43 million. As a group, equities research analysts anticipate that LifeMD, Inc. will post -0.56 earnings per share for the current fiscal year.

Institutional Trading of LifeMD

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp boosted its holdings in shares of 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 acquiring an additional 192,861 shares in the last quarter. Royce & Associates LP raised its position in LifeMD by 23.9% in the fourth quarter. Royce & Associates LP now owns 1,115,991 shares of the company’s stock valued at $5,524,000 after purchasing an additional 214,950 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of LifeMD by 21.6% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 931,294 shares of the company’s stock valued at $4,610,000 after purchasing an additional 165,378 shares in the last quarter. Millennium Management LLC grew its holdings in shares of LifeMD by 17.1% during the fourth quarter. Millennium Management LLC now owns 885,987 shares of the company’s stock worth $4,386,000 after purchasing an additional 129,327 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of LifeMD by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 822,217 shares of the company’s stock worth $4,071,000 after purchasing an additional 2,984 shares during the last quarter. Institutional investors own 35.52% of the company’s stock.

Analysts Set New Price Targets

LFMD has been the subject of several research reports. Lake Street Capital initiated coverage on LifeMD in a report on Tuesday, December 10th. They set a “buy” rating and a $12.00 price target for the company. KeyCorp reduced their target price on shares of LifeMD from $10.00 to $7.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. B. Riley raised shares of LifeMD to a “strong-buy” rating in a research report on Tuesday, March 11th. Cantor Fitzgerald reissued an “overweight” rating and issued a $15.00 price objective on shares of LifeMD in a report on Tuesday, March 11th. Finally, HC Wainwright lifted their price target on shares of LifeMD from $12.00 to $14.00 and gave the company a “buy” rating in a research report on Wednesday, March 12th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $11.43.

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.