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

LifeMD, Inc. (NASDAQ:LFMD - Get Free Report) CMO Jessica Friedeman sold 30,000 shares of the business's stock in a transaction 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 transaction, the chief marketing officer now owns 170,000 shares in the company, valued at approximately $962,200. This trade represents a 15.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

LifeMD Price Performance

Shares of NASDAQ LFMD traded down $0.05 during mid-day trading on Friday, hitting $5.60. The company had a trading volume of 430,039 shares, compared to its average volume of 799,509. The company has a market capitalization of $249.58 million, a PE ratio of -8.75 and a beta of 1.50. LifeMD, Inc. has a 1-year low of $3.99 and a 1-year high of $12.88. The business's 50-day simple moving average is $5.71 and its 200 day simple moving average is $5.40.

LifeMD (NASDAQ:LFMD - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $64.26 million during the quarter, compared to analyst estimates of $57.43 million. On average, analysts expect that LifeMD, Inc. will post -0.56 EPS for the current year.

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Hedge Funds Weigh In On LifeMD

Several hedge funds have recently made changes to their positions in the company. Marshall Wace LLP grew its holdings in shares of LifeMD by 522.9% during the fourth quarter. Marshall Wace LLP now owns 371,473 shares of the company's stock worth $1,839,000 after buying an additional 311,841 shares during the last quarter. Royce & Associates LP boosted its holdings in LifeMD by 23.9% in the 4th 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 in the last quarter. State Street Corp lifted its position 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 during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of LifeMD by 21.6% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 931,294 shares of the company's stock valued at $4,610,000 after acquiring an additional 165,378 shares during the period. Finally, Renaissance Technologies LLC lifted its position in shares of LifeMD by 45.2% during the 4th quarter. Renaissance Technologies LLC now owns 510,000 shares of the company's stock valued at $2,524,000 after acquiring an additional 158,796 shares during the period. Hedge funds and other institutional investors own 35.52% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on LFMD shares. Mizuho started coverage on LifeMD in a research note on Wednesday, December 4th. They set a "neutral" rating and a $7.00 target price on the stock. Lake Street Capital initiated coverage on LifeMD in a report on Tuesday, December 10th. They issued a "buy" rating and a $12.00 price target for the company. HC Wainwright increased their target price on LifeMD from $12.00 to $14.00 and gave the company a "buy" rating in a report on Wednesday, March 12th. Cantor Fitzgerald restated an "overweight" rating and issued a $15.00 price target on shares of LifeMD in a research report on Tuesday, March 11th. Finally, KeyCorp lowered their price objective on LifeMD from $10.00 to $7.00 and set an "overweight" rating for the company in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target 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.