Insider Selling: LifeMD, Inc. (NASDAQ:LFMD) CEO Sells 50,000 Shares of Stock

LifeMD, Inc. (NASDAQ:LFMD - Get Free Report) CEO Justin Schreiber sold 50,000 shares of the business's stock in a transaction that occurred on 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Justin Schreiber also recently made the following trade(s):

• On Thursday, January 2nd, Justin Schreiber sold 25,000 shares of LifeMD stock. The stock was sold at an average price of $5.19, for a total value of $129,750.00.
• On Monday, December 2nd, Justin Schreiber sold 25,000 shares of LifeMD stock. The shares were sold at an average price of $6.52, for a total value of $163,000.00.

LifeMD Trading Down 11.2 %

Shares of LifeMD stock traded down $0.64 on Tuesday, hitting $5.08. The stock had a trading volume of 1,628,352 shares, compared to its average volume of 932,472. The stock has a market cap of $220.02 million, a price-to-earnings ratio of -7.89 and a beta of 1.50. LifeMD, Inc. has a 52-week low of $3.99 and a 52-week high of $12.88. The company's 50 day moving average price is $5.69 and its 200 day moving average price is $5.40.

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Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on LFMD shares. Mizuho began coverage on LifeMD in a report on Wednesday, December 4th. They set a "neutral" rating and a $7.00 price target on the stock. HC Wainwright restated a "buy" rating and issued a $12.00 price objective on shares of LifeMD in a report on Monday, November 11th. Lake Street Capital initiated coverage on shares of LifeMD in a research report on Tuesday, December 10th. They set a "buy" rating and a $12.00 price objective for the company. Finally, KeyCorp dropped their target price on LifeMD from $10.00 to $7.00 and set an "overweight" rating on the stock in a report on Wednesday, January 8th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $11.14.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Prudential Financial Inc. lifted its stake in shares of LifeMD by 19.3% in the 4th quarter. Prudential Financial Inc. now owns 13,605 shares of the company's stock worth $67,000 after acquiring an additional 2,200 shares during the period. Rhumbline Advisers lifted its stake in 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 in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in LifeMD by 26.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,012 shares of the company's stock valued at $70,000 after purchasing an additional 2,895 shares in the last quarter. Geode Capital Management LLC grew its holdings in LifeMD by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 822,217 shares of the company's stock valued at $4,071,000 after buying an additional 2,984 shares during the period. Finally, Magnus Financial Group LLC increased its position in LifeMD by 31.1% during the 4th quarter. Magnus Financial Group LLC now owns 16,000 shares of the company's stock worth $79,000 after purchasing an additional 3,792 shares in the last quarter. 35.52% of the stock is currently owned by institutional investors and hedge funds.

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.