Courier Capital LLC Invests $653,000 in LifeMD, Inc. (NASDAQ:LFMD)

Courier Capital LLC purchased a new stake in shares of LifeMD, Inc. (NASDAQ:LFMD - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (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 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of LFMD. Prudential Financial Inc. raised its stake in LifeMD by 19.3% during 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 in the last quarter. Rhumbline Advisers raised its position in shares of LifeMD by 6.1% during the 4th quarter. Rhumbline Advisers now owns 48,689 shares of the company's stock worth $241,000 after purchasing an additional 2,814 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of LifeMD by 26.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,012 shares of the company's stock worth $70,000 after purchasing an additional 2,895 shares during the period. Geode Capital Management LLC raised its position in shares of LifeMD by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 822,217 shares of the company's stock worth $4,071,000 after purchasing an additional 2,984 shares during the period. Finally, Wells Fargo & Company MN raised its position in shares of LifeMD by 44.7% during the 4th quarter. Wells Fargo & Company MN now owns 18,732 shares of the company's stock worth $93,000 after purchasing an additional 5,791 shares during the period. Hedge funds and other institutional investors own 35.52% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on LFMD shares. HC Wainwright reiterated a "buy" rating and set a $14.00 price target on shares of LifeMD in a research report on Wednesday, April 30th. B. Riley upgraded LifeMD to a "strong-buy" rating in a research report on Tuesday, March 11th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $15.00 price target on shares of LifeMD in a research report on Tuesday, March 11th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $11.00.

LifeMD Trading Down 1.9%

LFMD traded down $0.24 during trading hours on Friday, hitting $12.46. The company's stock had a trading volume of 1,283,198 shares, compared to its average volume of 1,029,436. LifeMD, Inc. has a fifty-two week low of $3.99 and a fifty-two week high of $13.25. The firm has a market capitalization of $566.28 million, a PE ratio of -19.47 and a beta of 2.42. The company has a 50-day simple moving average of $8.84 and a 200 day simple moving average of $6.73.

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

Insider Activity

In other news, CEO Justin Schreiber sold 50,000 shares of LifeMD stock in a transaction 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 transaction, the chief executive officer now directly owns 2,575,721 shares in the company, valued at approximately $20,039,109.38. This trade represents a 1.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last ninety days, insiders have sold 96,995 shares of company stock worth $866,372. 18.40% of the stock is owned by company insiders.

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.