BNP Paribas Financial Markets Makes New $279,000 Investment in LifeMD, Inc. (NASDAQ:LFMD)

BNP Paribas Financial Markets purchased a new stake in LifeMD, Inc. (NASDAQ:LFMD - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 56,331 shares of the company's stock, valued at approximately $279,000. BNP Paribas Financial Markets owned 0.13% of LifeMD at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Prudential Financial Inc. increased its stake in shares of LifeMD by 19.3% in the fourth quarter. Prudential Financial Inc. now owns 13,605 shares of the company's stock valued at $67,000 after buying an additional 2,200 shares during the period. Rhumbline Advisers increased its stake in shares of LifeMD by 6.1% in the fourth quarter. Rhumbline Advisers now owns 48,689 shares of the company's stock valued at $241,000 after buying an additional 2,814 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of LifeMD by 26.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,012 shares of the company's stock valued at $70,000 after buying an additional 2,895 shares during the period. Geode Capital Management LLC increased its stake in shares of LifeMD by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 822,217 shares of the company's stock valued at $4,071,000 after buying an additional 2,984 shares during the period. Finally, Wells Fargo & Company MN increased its stake in shares of LifeMD by 44.7% in the fourth quarter. Wells Fargo & Company MN now owns 18,732 shares of the company's stock valued at $93,000 after buying an additional 5,791 shares during the period. Institutional investors and hedge funds own 35.52% of the company's stock.

LifeMD Stock Up 0.2%

NASDAQ:LFMD traded up $0.02 on Thursday, hitting $11.49. The stock had a trading volume of 1,218,222 shares, compared to its average volume of 985,057. The business's fifty day moving average is $7.19 and its 200 day moving average is $6.21. The company has a market cap of $522.20 million, a PE ratio of -17.95 and a beta of 2.22. LifeMD, Inc. has a 52 week low of $3.99 and a 52 week high of $12.19.

LifeMD (NASDAQ:LFMD - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.05. The firm had revenue of $65.70 million during the quarter, compared to the consensus estimate of $62.47 million. Equities analysts predict that LifeMD, Inc. will post -0.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on LFMD. 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. HC Wainwright restated a "buy" rating and set a $14.00 target price on shares of LifeMD in a research report on Wednesday, April 30th. Finally, B. Riley upgraded LifeMD to a "strong-buy" rating in a research report on Tuesday, March 11th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $11.00.

Insiders Place Their Bets

In related news, CEO Justin Schreiber sold 50,000 shares of the stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $7.78, for a total transaction of $389,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,575,721 shares of the company's stock, valued at approximately $20,039,109.38. This trade represents a 1.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CMO Jessica Friedeman sold 30,000 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $5.66, for a total value of $169,800.00. Following the sale, the chief marketing officer now directly owns 170,000 shares of the company's stock, valued at $962,200. The trade was a 15.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 101,995 shares of company stock worth $724,422. Corporate insiders own 15.97% 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.