LifeMD (NASDAQ:LFMD) Trading Down 3.2% After Insider Selling

LifeMD, Inc. (NASDAQ:LFMD - Get Free Report)'s share price fell 3.2% during mid-day trading on Thursday following insider selling activity. The stock traded as low as $12.51 and last traded at $12.52. 275,849 shares were traded during mid-day trading, a decline of 74% from the average session volume of 1,070,438 shares. The stock had previously closed at $12.93.

Specifically, CEO Justin Schreiber sold 25,000 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $13.38, for a total value of $334,500.00. Following the completion of the sale, the chief executive officer owned 2,500,721 shares in the company, valued at approximately $33,459,646.98. This trade represents a 0.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on LFMD shares. BTIG Research raised their price objective on shares of LifeMD from $15.00 to $18.00 and gave the company a "buy" rating in a research report on Wednesday, June 18th. B. Riley upgraded shares of LifeMD to a "strong-buy" rating in a research report on Tuesday, March 11th. 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. 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 equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $12.00.

LifeMD Stock Performance

The firm's 50-day moving average price is $11.34 and its 200 day moving average price is $7.55. The company has a market cap of $570.17 million, a price-to-earnings ratio of -36.90 and a beta of 2.40.

LifeMD (NASDAQ:LFMD - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.05. The business had revenue of $65.70 million for the quarter, compared to analyst estimates of $62.47 million. As a group, equities research analysts predict that LifeMD, Inc. will post -0.56 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of LFMD. Marshall Wace LLP grew its holdings in LifeMD by 522.9% during the fourth quarter. Marshall Wace LLP now owns 371,473 shares of the company's stock valued at $1,839,000 after purchasing an additional 311,841 shares during the period. Nuveen LLC acquired a new position in LifeMD during the first quarter valued at approximately $1,545,000. Royce & Associates LP grew its holdings in LifeMD by 23.9% during the fourth quarter. Royce & Associates LP now owns 1,115,991 shares of the company's stock valued at $5,524,000 after purchasing an additional 214,950 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in LifeMD by 21.6% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 931,294 shares of the company's stock valued at $4,610,000 after purchasing an additional 165,378 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in LifeMD by 45.2% during the fourth quarter. Renaissance Technologies LLC now owns 510,000 shares of the company's stock valued at $2,524,000 after purchasing an additional 158,796 shares during the period. Institutional investors and hedge funds own 35.52% of the company's stock.

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.