LifeMD, Inc. (NASDAQ:LFMD) CEO Justin Schreiber Sells 25,000 Shares

LifeMD, Inc. (NASDAQ:LFMD - Get Free Report) CEO Justin Schreiber sold 25,000 shares of LifeMD stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $12.47, for a total value of $311,750.00. Following the completion of the transaction, the chief executive officer now directly owns 2,525,721 shares in the company, valued at approximately $31,495,740.87. This represents a 0.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Justin Schreiber also recently made the following trade(s):

• On Thursday, May 1st, Justin Schreiber sold 21,995 shares of LifeMD stock. The shares were sold at an average price of $7.53, for a total transaction of $165,622.35.
• On Tuesday, April 29th, Justin Schreiber sold 50,000 shares of LifeMD stock. The shares were sold at an average price of $7.78, for a total value of $389,000.00.

LifeMD Price Performance

Shares of NASDAQ:LFMD traded up $0.64 during midday trading on Friday, reaching $12.72. The company's stock had a trading volume of 1,770,312 shares, compared to its average volume of 1,009,342. The business's fifty day simple moving average is $8.11 and its 200-day simple moving average is $6.52. LifeMD, Inc. has a fifty-two week low of $3.99 and a fifty-two week high of $13.25. The company has a market capitalization of $578.10 million, a P/E ratio of -19.88 and a beta of 2.42.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of LFMD. Northern Trust Corp raised its position in shares of LifeMD by 2.1% during the fourth quarter. Northern Trust Corp now owns 323,974 shares of the company's stock worth $1,604,000 after acquiring an additional 6,634 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in LifeMD by 17.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,412 shares of the company's stock worth $235,000 after purchasing an additional 7,001 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in 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 last quarter. Raymond James Financial Inc. acquired a new position in LifeMD during the 4th quarter valued at about $473,000. Finally, Barclays PLC boosted its stake in shares of LifeMD by 15.8% in the 4th quarter. Barclays PLC now owns 56,773 shares of the company's stock valued at $281,000 after purchasing an additional 7,756 shares during the last quarter. Institutional investors and hedge funds own 35.52% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on LFMD. B. Riley raised shares of LifeMD to a "strong-buy" rating in a report on Tuesday, March 11th. Cantor Fitzgerald restated an "overweight" rating and issued 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 target price on shares of LifeMD in a report on Wednesday, April 30th. One equities 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 company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $11.00.

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.