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

Connective Capital Management LLC acquired a new position in shares of LifeMD, Inc. (NASDAQ:LFMD - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 32,722 shares of the company's stock, valued at approximately $162,000. Connective Capital Management LLC owned approximately 0.08% of LifeMD as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LFMD. ProShare Advisors LLC purchased a new position in shares of LifeMD during the 4th quarter worth $51,000. Oxford Asset Management LLP acquired a new stake in LifeMD during the fourth quarter worth about $52,000. Balyasny Asset Management L.P. purchased a new position in LifeMD during the fourth quarter worth about $52,000. AXQ Capital LP purchased a new position in LifeMD during the fourth quarter worth about $57,000. Finally, Quantbot Technologies LP acquired a new position in LifeMD in the 4th quarter valued at about $59,000. Institutional investors and hedge funds own 35.52% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on LFMD. B. Riley upgraded shares of LifeMD to a "strong-buy" rating in a report on Tuesday, March 11th. Cantor Fitzgerald reissued an "overweight" rating and set a $15.00 target price on shares of LifeMD in a research note on Tuesday, March 11th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $14.00 price target on shares of LifeMD in a research note on Wednesday, April 30th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, LifeMD presently has an average rating of "Buy" and a consensus target price of $11.00.

LifeMD Stock Performance

Shares of LifeMD stock traded up $0.03 during trading hours on Monday, reaching $11.53. 1,345,122 shares of the company were exchanged, compared to its average volume of 974,988. The firm has a market cap of $524.02 million, a PE ratio of -18.02 and a beta of 2.22. LifeMD, Inc. has a 1 year low of $3.99 and a 1 year high of $11.65. The stock's fifty day moving average is $6.84 and its 200 day moving average is $6.10.

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 analysts' consensus estimates of ($0.04) by $0.05. The business had revenue of $65.70 million for the quarter, compared to analysts' expectations of $62.47 million. Research analysts expect that LifeMD, Inc. will post -0.56 earnings per share for the current year.

Insider Buying and Selling at LifeMD

In other LifeMD news, CEO Justin Schreiber sold 21,995 shares of LifeMD stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $7.53, for a total value of $165,622.35. Following the transaction, the chief executive officer now directly owns 2,553,726 shares in the company, valued at approximately $19,229,556.78. The trade was a 0.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CMO Jessica Friedeman sold 30,000 shares of the 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 of the company's stock, valued at $962,200. This trade represents a 15.00% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 101,995 shares of company stock worth $724,422. 15.97% of the stock is owned by 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.