Marc David Benathen Sells 50,000 Shares of LifeMD, Inc. (NASDAQ:LFMD) Stock

LifeMD, Inc. (NASDAQ:LFMD - Get Free Report) CFO Marc David Benathen sold 50,000 shares of the firm's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $14.01, for a total value of $700,500.00. Following the completion of the transaction, the chief financial officer now owns 339,554 shares of the company's stock, valued at approximately $4,757,151.54. The trade was a 12.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Marc David Benathen also recently made the following trade(s):

• On Monday, June 16th, Marc David Benathen sold 75,000 shares of LifeMD stock. The stock was sold at an average price of $13.09, for a total value of $981,750.00.

LifeMD Stock Up 10.9%

LFMD traded up $1.48 during trading on Wednesday, hitting $15.06. The company's stock had a trading volume of 3,098,569 shares, compared to its average volume of 1,046,482. LifeMD, Inc. has a twelve month low of $3.99 and a twelve month high of $15.28. The business's fifty day simple moving average is $9.18 and its 200 day simple moving average is $6.83.

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, beating 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. Analysts predict that LifeMD, Inc. will post -0.56 earnings per share for the current fiscal year.

Institutional Trading of LifeMD

A number of institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC purchased a new stake in shares of LifeMD during the first quarter worth approximately $35,000. CWM LLC increased its position in shares of LifeMD by 17.5% during the first quarter. CWM LLC now owns 9,050 shares of the company's stock worth $49,000 after purchasing an additional 1,351 shares in the last quarter. ProShare Advisors LLC purchased a new stake in shares of LifeMD during the fourth quarter worth approximately $51,000. Oxford Asset Management LLP purchased a new stake in shares of LifeMD during the fourth quarter worth approximately $52,000. Finally, Balyasny Asset Management L.P. purchased a new stake in shares of LifeMD during the fourth quarter worth approximately $52,000. 35.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on LFMD. 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. BTIG Research lifted their price target on LifeMD from $15.00 to $18.00 and gave the company a "buy" rating in a research report on Wednesday. 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. Finally, B. Riley upgraded LifeMD to a "strong-buy" rating in a research report on Tuesday, March 11th. One 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, LifeMD currently has an average rating of "Buy" and an average price target of $12.00.

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.

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