Jessica Friedeman Sells 30,000 Shares of LifeMD, Inc. (NASDAQ:LFMD) Stock

LifeMD, Inc. (NASDAQ:LFMD) CMO Jessica Friedeman sold 30,000 shares of the company’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 transaction, the chief marketing officer now owns 170,000 shares of the company’s stock, valued at approximately $962,200. This trade represents a 15.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

LifeMD Price Performance

LifeMD stock opened at $5.65 on Wednesday. The stock has a market cap of $251.90 million, a price-to-earnings ratio of -8.83 and a beta of 1.50. The firm has a 50 day simple moving average of $5.68 and a 200-day simple moving average of $5.40. LifeMD, Inc. has a 1-year low of $3.99 and a 1-year high of $12.88.

LifeMD (NASDAQ:LFMD) last posted its quarterly earnings data 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 analysts’ expectations of $57.43 million. Equities analysts expect that LifeMD, Inc. will post -0.56 earnings per share for the current fiscal year.

Institutional Investors Weigh In On LifeMD

A number of hedge funds have recently added to or reduced their stakes in LFMD. ProShare Advisors LLC acquired a new stake in LifeMD during the 4th quarter worth approximately $51,000. Oxford Asset Management LLP acquired a new stake in LifeMD during the 4th quarter worth approximately $52,000. Balyasny Asset Management L.P. acquired a new stake in shares of LifeMD in the 4th quarter valued at $52,000. Intech Investment Management LLC acquired a new stake in shares of LifeMD in the 3rd quarter valued at $54,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of LifeMD in the 4th quarter valued at $56,000. 35.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on LFMD. Lake Street Capital began coverage on shares of LifeMD in a research note on Tuesday, December 10th. They set a “buy” rating and a $12.00 price objective for the company. Mizuho began coverage on shares of LifeMD in a research note on Wednesday, December 4th. They set a “neutral” rating and a $7.00 price objective for the company. HC Wainwright upped their price objective 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. Cantor Fitzgerald reissued an “overweight” rating and issued a $15.00 price target on shares of LifeMD in a research note on Tuesday, March 11th. Finally, B. Riley raised shares of LifeMD to a “strong-buy” rating in a research note on Tuesday, March 11th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $11.43.

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.