Justin Schreiber Sells 50,000 Shares of LifeMD, Inc. (NASDAQ:LFMD) Stock

LifeMD, Inc. (NASDAQ:LFMD) CEO Justin Schreiber sold 50,000 shares of LifeMD stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $7.78, for a total value of $389,000.00. Following the completion of the sale, the chief executive officer now owns 2,575,721 shares in the company, valued at approximately $20,039,109.38. This represents a 1.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Friday, February 14th, Justin Schreiber sold 50,000 shares of LifeMD stock. The stock was sold at an average price of $7.55, for a total value of $377,500.00.

LifeMD Stock Performance

Shares of LFMD opened at $7.25 on Friday. LifeMD, Inc. has a fifty-two week low of $3.99 and a fifty-two week high of $12.88. The firm’s 50-day simple moving average is $5.56 and its two-hundred day simple moving average is $5.56. The stock has a market cap of $323.23 million, a PE ratio of -11.33 and a beta of 2.22.

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

Hedge Funds Weigh In On LifeMD

Large investors have recently modified their holdings of the stock. CWM LLC increased its stake in LifeMD by 17.5% during the 1st quarter. CWM LLC now owns 9,050 shares of the company’s stock valued at $49,000 after purchasing an additional 1,351 shares in the last quarter. Courier Capital LLC purchased a new stake in shares of LifeMD during the first quarter valued at approximately $653,000. Mirador Capital Partners LP increased its position in shares of LifeMD by 8.8% during the first quarter. Mirador Capital Partners LP now owns 115,342 shares of the company’s stock valued at $627,000 after acquiring an additional 9,283 shares in the last quarter. GAMMA Investing LLC purchased a new position in LifeMD in the 1st quarter worth approximately $35,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in LifeMD in the 4th quarter valued at approximately $56,000. Hedge funds and other institutional investors own 35.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. B. Riley upgraded shares of LifeMD to a “strong-buy” rating in a report on Tuesday, March 11th. HC Wainwright reissued a “buy” rating and issued a $14.00 price target on shares of LifeMD in a research note on Wednesday. KeyCorp reduced 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. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $15.00 target price on shares of LifeMD in a research note on Tuesday, March 11th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $11.00.

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.