Royce & Associates LP Raises Stock Position in LifeMD, Inc. (NASDAQ:LFMD)

Royce & Associates LP grew its position in shares of LifeMD, Inc. (NASDAQ:LFMD - Free Report) by 23.9% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,115,991 shares of the company's stock after acquiring an additional 214,950 shares during the period. Royce & Associates LP owned about 2.58% of LifeMD worth $5,524,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. State Street Corp grew its stake in shares of LifeMD by 20.0% in the 3rd quarter. State Street Corp now owns 1,155,495 shares of the company's stock worth $6,055,000 after buying an additional 192,861 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of LifeMD by 21.6% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 931,294 shares of the company's stock worth $4,610,000 after buying an additional 165,378 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of LifeMD in the 4th quarter worth approximately $473,000. Geode Capital Management LLC grew its stake in shares of LifeMD by 11.4% in the 3rd quarter. Geode Capital Management LLC now owns 819,233 shares of the company's stock worth $4,293,000 after buying an additional 83,598 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of LifeMD by 496.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 88,173 shares of the company's stock worth $462,000 after buying an additional 73,389 shares during the last quarter. Hedge funds and other institutional investors own 35.52% of the company's stock.

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LifeMD Trading Down 0.9 %

LFMD stock traded down $0.05 during midday trading on Friday, hitting $5.60. The company's stock had a trading volume of 643,014 shares, compared to its average volume of 799,603. The firm's 50-day moving average is $5.72 and its 200-day moving average is $5.40. The company has a market cap of $249.67 million, a PE ratio of -8.75 and a beta of 1.50. LifeMD, Inc. has a 12 month low of $3.99 and a 12 month high of $12.88.

LifeMD (NASDAQ:LFMD - Get Free Report) last released its quarterly earnings results on Monday, March 10th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.02. The firm had revenue of $64.26 million for the quarter, compared to the consensus estimate of $57.43 million. Analysts expect that LifeMD, Inc. will post -0.56 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on the company. KeyCorp cut 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. Mizuho assumed coverage on LifeMD in a research note on Wednesday, December 4th. They issued a "neutral" rating and a $7.00 price target on the stock. B. Riley upgraded LifeMD to a "strong-buy" rating in a research note on Tuesday, March 11th. HC Wainwright upped their price objective on LifeMD from $12.00 to $14.00 and gave the company a "buy" rating in a research report on Wednesday, March 12th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $15.00 price objective on shares of LifeMD in a research report on Tuesday, March 11th. One 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 company's stock. According to data from MarketBeat, LifeMD currently has a consensus rating of "Buy" and a consensus price target of $11.43.

Insider Activity

In other news, CMO Jessica Friedeman sold 30,000 shares of the company'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 completion of the sale, the chief marketing officer now directly owns 170,000 shares in the company, valued at $962,200. This represents a 15.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Justin Schreiber sold 25,000 shares of the company's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $5.19, for a total value of $129,750.00. Following the completion of the sale, the chief executive officer now owns 2,703,715 shares of the company's stock, valued at $14,032,280.85. This trade represents a 0.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 105,000 shares of company stock valued at $677,050 in the last ninety days. 15.97% of the stock is currently owned by company insiders.

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.