Insider Selling: LifeMD, Inc. (NASDAQ:LFMD) CEO Sells 21,995 Shares of Stock

LifeMD, Inc. (NASDAQ:LFMD) CEO Justin Schreiber sold 21,995 shares of the business’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $7.53, for a total value of $165,622.35. Following the sale, the chief executive officer now owns 2,553,726 shares of the company’s stock, valued at $19,229,556.78. The trade was a 0.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Tuesday, April 29th, Justin Schreiber sold 50,000 shares of LifeMD stock. The shares were sold at an average price of $7.78, for a total transaction of $389,000.00.
• 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 transaction of $377,500.00.

LifeMD Stock Up 4.0 %

Shares of NASDAQ LFMD opened at $7.54 on Tuesday. LifeMD, Inc. has a fifty-two week low of $3.99 and a fifty-two week high of $12.88. The business has a 50 day moving average price of $5.61 and a two-hundred day moving average price of $5.59. The firm has a market cap of $331.52 million, a PE ratio of -11.78 and a beta of 2.22.

LifeMD (NASDAQ:LFMD) last released its quarterly earnings results on Monday, March 10th. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02. The company had revenue of $64.26 million for the quarter, compared to analyst estimates of $57.43 million. On average, analysts anticipate that LifeMD, Inc. will post -0.56 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on LFMD shares. B. Riley upgraded LifeMD to a “strong-buy” rating in a report on Tuesday, March 11th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $15.00 target price on shares of LifeMD in a research note on Tuesday, March 11th. HC Wainwright reissued a “buy” rating and set a $14.00 price target on shares of LifeMD in a research report on Wednesday, April 30th. Finally, KeyCorp lowered their price objective on shares of LifeMD from $10.00 to $7.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $11.00.

Institutional Investors Weigh In On LifeMD

A number of institutional investors have recently modified their holdings of the stock. Marshall Wace LLP increased its holdings in LifeMD by 522.9% in the fourth quarter. Marshall Wace LLP now owns 371,473 shares of the company’s stock valued at $1,839,000 after buying an additional 311,841 shares during the last quarter. Royce & Associates LP increased its holdings in shares of 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 acquiring an additional 214,950 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised 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 in the last quarter. Renaissance Technologies LLC raised 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 in the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its stake in LifeMD by 825.6% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 158,423 shares of the company’s stock worth $784,000 after purchasing an additional 141,307 shares during the last quarter. Institutional investors and hedge funds own 35.52% of the company’s stock.

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.