Millennium Management LLC Boosts Holdings in LifeMD, Inc. (NASDAQ:LFMD)

Millennium Management LLC raised its position in LifeMD, Inc. (NASDAQ:LFMD - Free Report) by 17.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 885,987 shares of the company's stock after acquiring an additional 129,327 shares during the quarter. Millennium Management LLC owned approximately 2.05% of LifeMD worth $4,386,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Balyasny Asset Management L.P. purchased a new position in LifeMD in the fourth quarter valued at $52,000. Oxford Asset Management LLP purchased a new position in shares of LifeMD in the 4th quarter valued at about $52,000. AXQ Capital LP purchased a new position in shares of LifeMD in the 4th quarter valued at about $57,000. Quantbot Technologies LP acquired a new position in shares of LifeMD during the fourth quarter worth about $59,000. Finally, Mariner LLC purchased a new stake in shares of LifeMD during the fourth quarter worth approximately $67,000. 35.52% of the stock is currently owned by hedge funds and other institutional investors.

LifeMD Trading Up 0.9%

Shares of NASDAQ LFMD traded up $0.11 during mid-day trading on Tuesday, reaching $12.96. The company had a trading volume of 516,657 shares, compared to its average volume of 992,481. The firm has a 50 day simple moving average of $7.56 and a two-hundred day simple moving average of $6.33. LifeMD, Inc. has a 52-week low of $3.99 and a 52-week high of $13.22. The stock has a market cap of $589.01 million, a P/E ratio of -20.25 and a beta of 2.22.

LifeMD (NASDAQ:LFMD - Get Free Report) last issued its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $62.47 million. On average, equities analysts expect that LifeMD, Inc. will post -0.56 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on LFMD shares. B. Riley upgraded shares of LifeMD to a "strong-buy" rating in a research note on Tuesday, March 11th. HC Wainwright reiterated a "buy" rating and set a $14.00 target price on shares of LifeMD in a research note on Wednesday, April 30th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $15.00 target price on shares of LifeMD in a report on Tuesday, March 11th. One investment 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. Based on data from MarketBeat, LifeMD currently has a consensus rating of "Buy" and an average price target of $11.00.

Insiders Place Their Bets

In other news, CEO Justin Schreiber sold 21,995 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $7.53, for a total transaction 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. This trade represents a 0.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CMO Jessica Friedeman sold 30,000 shares of the company's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $5.66, for a total transaction of $169,800.00. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders have sold a total of 101,995 shares of company stock valued at $724,422 over the last quarter. Company insiders own 15.97% of the company's stock.

LifeMD 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.