Insider Selling: LifeMD, Inc. (NASDAQ:LFMD) CMO Sells 30,000 Shares of Stock

LifeMD, Inc. (NASDAQ:LFMD) CMO Jessica Friedeman sold 30,000 shares of LifeMD stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $5.66, for a total transaction of $169,800.00. Following the transaction, the chief marketing officer now directly owns 170,000 shares of the company’s stock, valued at $962,200. This represents a 15.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

LifeMD Stock Performance

Shares of NASDAQ LFMD traded down $0.23 during trading hours on Monday, reaching $5.71. 1,491,039 shares of the stock were exchanged, compared to its average volume of 798,587. The stock’s fifty day simple moving average is $5.68 and its 200 day simple moving average is $5.39. The firm has a market capitalization of $254.57 million, a price-to-earnings ratio of -8.92 and a beta of 1.50. LifeMD, Inc. has a 52 week low of $3.99 and a 52 week high of $12.88.

LifeMD (NASDAQ:LFMD) last issued its earnings results on Monday, March 10th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.02. The firm had revenue of $64.26 million during the quarter, compared to analyst estimates of $57.43 million. Research analysts predict that LifeMD, Inc. will post -0.56 EPS for the current fiscal year.

Analyst Ratings Changes

LFMD has been the subject of several research reports. Cantor Fitzgerald restated an “overweight” rating and issued a $15.00 price objective on shares of LifeMD in a research report on Tuesday, March 11th. Mizuho assumed coverage on LifeMD in a research report on Wednesday, December 4th. They set a “neutral” rating and a $7.00 target price for the company. KeyCorp lowered their price objective on LifeMD from $10.00 to $7.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. HC Wainwright raised their target price on shares of LifeMD from $12.00 to $14.00 and gave the company a “buy” rating in a research note on Wednesday, March 12th. Finally, Lake Street Capital began coverage on LifeMD in a research note on Tuesday, December 10th. They issued a “buy” rating and a $12.00 price target on the stock. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $11.43.

Hedge Funds Weigh In On LifeMD

Several hedge funds and other institutional investors have recently bought and sold shares of the company. ProShare Advisors LLC bought a new position in shares of LifeMD in the fourth quarter valued at approximately $51,000. Oxford Asset Management LLP purchased a new position in shares of LifeMD in the fourth quarter worth about $52,000. Balyasny Asset Management L.P. purchased a new stake in shares of LifeMD during the fourth quarter worth $52,000. Intech Investment Management LLC bought a new position in LifeMD in the 3rd quarter worth about $54,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in LifeMD during the fourth quarter valued at approximately $56,000. 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.