LifeMD, Inc. $LFMD Shares Sold by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. lessened its holdings in shares of LifeMD, Inc. (NASDAQ:LFMD - Free Report) by 59.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 165,404 shares of the company's stock after selling 244,145 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.36% of LifeMD worth $900,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LFMD. Royce & Associates LP raised its holdings in shares of LifeMD by 3.5% during the 1st quarter. Royce & Associates LP now owns 1,155,231 shares of the company's stock worth $6,284,000 after acquiring an additional 39,240 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in LifeMD by 5.4% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 981,894 shares of the company's stock worth $5,342,000 after purchasing an additional 50,600 shares during the period. Millennium Management LLC grew its position in shares of LifeMD by 17.1% during the fourth quarter. Millennium Management LLC now owns 885,987 shares of the company's stock worth $4,386,000 after buying an additional 129,327 shares in the last quarter. Nuveen Asset Management LLC grew its position in shares of LifeMD by 45.6% during the fourth quarter. Nuveen Asset Management LLC now owns 413,501 shares of the company's stock worth $2,047,000 after buying an additional 129,470 shares in the last quarter. Finally, Uniplan Investment Counsel Inc. grew its position in shares of LifeMD by 0.8% during the first quarter. Uniplan Investment Counsel Inc. now owns 388,288 shares of the company's stock worth $2,112,000 after buying an additional 3,035 shares in the last quarter. Institutional investors and hedge funds own 35.52% of the company's stock.

Insider Buying and Selling

In other LifeMD news, CEO Justin Schreiber sold 25,000 shares of the business's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $13.38, for a total transaction of $334,500.00. Following the completion of the transaction, the chief executive officer owned 2,500,721 shares in the company, valued at approximately $33,459,646.98. The trade was a 0.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Nicholas P. Alvarez sold 75,000 shares of the business's stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $5.92, for a total value of $444,000.00. Following the transaction, the insider owned 605,000 shares of the company's stock, valued at $3,581,600. This trade represents a 11.03% decrease in their position. The disclosure for this sale can be found here. Insiders own 18.40% of the company's stock.

LifeMD Price Performance

Shares of NASDAQ LFMD opened at $6.55 on Tuesday. LifeMD, Inc. has a twelve month low of $3.99 and a twelve month high of $15.84. The company has a current ratio of 0.77, a quick ratio of 0.72 and a debt-to-equity ratio of 9.21. The company has a market capitalization of $310.60 million, a price-to-earnings ratio of -31.19 and a beta of 1.57. The business has a 50 day simple moving average of $7.74 and a 200-day simple moving average of $8.58.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. BTIG Research upped their price target on LifeMD from $15.00 to $18.00 and gave the company a "buy" rating in a report on Wednesday, June 18th. Lake Street Capital reduced their price objective on LifeMD from $18.00 to $14.00 and set a "buy" rating for the company in a research note on Wednesday, August 6th. HC Wainwright cut their price objective on LifeMD from $14.00 to $13.00 and set a "buy" rating for the company in a research report on Thursday, August 7th. Wall Street Zen lowered LifeMD from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, KeyCorp decreased their price objective on LifeMD from $14.00 to $12.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $13.17.

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.

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