Courier Capital LLC Takes Position in LifeMD, Inc. (NASDAQ:LFMD)

Courier Capital LLC purchased a new stake in LifeMD, Inc. (NASDAQ:LFMD) in the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 120,000 shares of the company’s stock, valued at approximately $653,000. Courier Capital LLC owned 0.27% of LifeMD as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. GAMMA Investing LLC acquired a new position in shares of LifeMD in the 1st quarter valued at about $35,000. ProShare Advisors LLC acquired a new position in shares of LifeMD in the 4th quarter valued at about $51,000. Oxford Asset Management LLP acquired a new position in shares of LifeMD in the 4th quarter valued at about $52,000. Balyasny Asset Management L.P. acquired a new position in shares of LifeMD in the 4th quarter valued at about $52,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in shares of LifeMD in the 4th quarter valued at about $56,000. 35.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. B. Riley raised shares of LifeMD to a “strong-buy” rating in a report on Tuesday, March 11th. HC Wainwright reiterated a “buy” rating and issued a $14.00 price objective on shares of LifeMD in a research report on Wednesday, April 30th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $15.00 price objective on shares of LifeMD in a research report on Tuesday, March 11th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $11.00.

LifeMD Stock Down 2.1%

Shares of NASDAQ:LFMD opened at $12.45 on Tuesday. The company has a market cap of $565.83 million, a PE ratio of -19.45 and a beta of 2.42. The company’s 50-day moving average price is $8.25 and its 200 day moving average price is $6.57. LifeMD, Inc. has a fifty-two week low of $3.99 and a fifty-two week high of $13.25.

LifeMD (NASDAQ:LFMD) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.05. The company had revenue of $65.70 million for the quarter, compared to the consensus estimate of $62.47 million. As a group, equities analysts anticipate that LifeMD, Inc. will post -0.56 EPS for the current year.

Insiders Place Their Bets

In other LifeMD news, CEO Justin Schreiber sold 50,000 shares of the business’s stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $7.78, for a total transaction of $389,000.00. Following the sale, the chief executive officer now directly owns 2,575,721 shares in the company, valued at approximately $20,039,109.38. The trade was a 1.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Jessica Friedeman sold 30,000 shares of the business’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $5.66, for a total transaction of $169,800.00. Following the sale, the chief marketing officer now owns 170,000 shares in the company, valued at $962,200. This trade represents a 15.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 126,995 shares of company stock worth $1,036,172. 18.40% of the stock is owned by corporate insiders.

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.