95,557 Shares in LifeMD, Inc. (NASDAQ:LFMD) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new stake in LifeMD, Inc. (NASDAQ:LFMD - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 95,557 shares of the company's stock, valued at approximately $473,000. Raymond James Financial Inc. owned about 0.22% of LifeMD at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Magnus Financial Group LLC boosted its holdings in LifeMD by 31.1% in the fourth quarter. Magnus Financial Group LLC now owns 16,000 shares of the company's stock valued at $79,000 after purchasing an additional 3,792 shares in the last quarter. MetLife Investment Management LLC boosted its holdings in shares of LifeMD by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 21,138 shares of the company's stock valued at $111,000 after buying an additional 11,910 shares in the last quarter. Centiva Capital LP acquired a new position in shares of LifeMD in the 3rd quarter valued at $196,000. Rhumbline Advisers grew its position in shares of LifeMD by 6.1% in the 4th quarter. Rhumbline Advisers now owns 48,689 shares of the company's stock valued at $241,000 after buying an additional 2,814 shares during the last quarter. Finally, Barclays PLC raised its stake in LifeMD by 311.7% during the 3rd quarter. Barclays PLC now owns 49,017 shares of the company's stock worth $257,000 after acquiring an additional 37,112 shares in the last quarter. 35.52% of the stock is currently owned by institutional investors and hedge funds.

LifeMD Stock Performance

LifeMD stock traded up $0.05 during mid-day trading on Friday, reaching $5.03. 457,299 shares of the company were exchanged, compared to its average volume of 817,362. The firm has a market cap of $224.26 million, a PE ratio of -7.86 and a beta of 2.22. The firm's 50-day simple moving average is $5.76 and its two-hundred day simple moving average is $5.43. LifeMD, Inc. has a twelve month low of $3.99 and a twelve month high of $12.88.

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

Insider Activity

In other LifeMD news, CMO Jessica Friedeman sold 30,000 shares of the firm's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $5.66, for a total transaction of $169,800.00. Following the completion of the transaction, the chief marketing officer now directly owns 170,000 shares in the company, valued at approximately $962,200. This trade represents a 15.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Justin Schreiber sold 50,000 shares of the company's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $7.55, for a total transaction of $377,500.00. Following the completion of the sale, the chief executive officer now directly owns 2,653,715 shares in the company, valued at $20,035,548.25. This trade represents a 1.85 % decrease in their position. The disclosure for this sale can be found here. Insiders own 15.97% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $15.00 price objective on shares of LifeMD in a report on Tuesday, March 11th. KeyCorp dropped their price target on LifeMD from $10.00 to $7.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 8th. B. Riley upgraded LifeMD to a "strong-buy" rating in a research note on Tuesday, March 11th. Finally, HC Wainwright raised their target price on shares of LifeMD from $12.00 to $14.00 and gave the stock 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 assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $11.43.

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.