LifeMD (NASDAQ:LFMD) Trading Down 4.6% - Should You Sell?

LifeMD, Inc. (NASDAQ:LFMD - Get Free Report)'s share price dropped 4.6% during mid-day trading on Monday . The stock traded as low as $12.24 and last traded at $12.14. Approximately 620,984 shares were traded during mid-day trading, a decline of 38% from the average daily volume of 1,008,130 shares. The stock had previously closed at $12.72.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on LFMD. HC Wainwright reissued a "buy" rating and set a $14.00 target price on shares of LifeMD in a report on Wednesday, April 30th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $15.00 price target on shares of LifeMD in a research report on Tuesday, March 11th. Finally, B. Riley upgraded shares of LifeMD to a "strong-buy" rating in a report on Tuesday, March 11th. One 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. According to MarketBeat, LifeMD currently has a consensus rating of "Buy" and a consensus target price of $11.00.

LifeMD Stock Up 3.9%

The firm's 50-day moving average price is $8.39 and its two-hundred day moving average price is $6.61. The firm has a market capitalization of $574.01 million, a PE ratio of -19.73 and a beta of 2.42.

LifeMD (NASDAQ:LFMD - Get Free Report) last issued its 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 during the quarter, compared to analyst estimates of $62.47 million. Equities research analysts forecast that LifeMD, Inc. will post -0.56 EPS for the current year.

Insider Buying and Selling at LifeMD

In other news, CEO Justin Schreiber sold 21,995 shares of the stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $7.53, for a total transaction of $165,622.35. Following the transaction, the chief executive officer now owns 2,553,726 shares of the company's stock, valued at approximately $19,229,556.78. This represents a 0.85% decrease in their position. 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 firm's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $5.66, for a total value of $169,800.00. Following the completion of the transaction, the chief marketing officer now directly owns 170,000 shares in the company, valued at $962,200. The trade was a 15.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 126,995 shares of company stock valued at $1,036,172 in the last quarter. Company insiders own 18.40% of the company's stock.

Hedge Funds Weigh In On LifeMD

A number of institutional investors have recently modified their holdings of the company. Marshall Wace LLP grew its stake in LifeMD by 522.9% in the 4th quarter. Marshall Wace LLP now owns 371,473 shares of the company's stock valued at $1,839,000 after buying an additional 311,841 shares during the last quarter. Nuveen LLC acquired a new position in LifeMD during the 1st quarter valued at $1,545,000. Royce & Associates LP boosted its holdings in LifeMD by 23.9% in the 4th 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 position in LifeMD by 21.6% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 931,294 shares of the company's stock worth $4,610,000 after purchasing an additional 165,378 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of LifeMD by 45.2% during the 4th quarter. Renaissance Technologies LLC now owns 510,000 shares of the company's stock worth $2,524,000 after purchasing an additional 158,796 shares during the period. Institutional investors 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.