Marc David Benathen Sells 75,000 Shares of LifeMD, Inc. (NASDAQ:LFMD) Stock

LifeMD, Inc. (NASDAQ:LFMD - Get Free Report) CFO Marc David Benathen sold 75,000 shares of the business's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $13.09, for a total transaction of $981,750.00. Following the completion of the transaction, the chief financial officer now directly owns 389,554 shares of the company's stock, valued at $5,099,261.86. This trade represents a 16.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Tuesday, June 17th, Marc David Benathen sold 50,000 shares of LifeMD stock. The shares were sold at an average price of $14.01, for a total transaction of $700,500.00.

LifeMD Price Performance

NASDAQ:LFMD traded up $1.48 on Thursday, hitting $15.06. 3,098,569 shares of the company's stock were exchanged, compared to its average volume of 1,046,482. The firm has a 50-day moving average price of $9.58 and a 200-day moving average price of $6.95. LifeMD, Inc. has a 52 week low of $3.99 and a 52 week high of $15.29. The company has a market cap of $684.48 million, a P/E ratio of -44.29 and a beta of 2.42.

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 the consensus estimate of $62.47 million. On average, research analysts expect that LifeMD, Inc. will post -0.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

LFMD has been the subject of several research analyst reports. Cantor Fitzgerald reissued an "overweight" rating and issued a $15.00 price target on shares of LifeMD in a report on Tuesday, March 11th. B. Riley raised shares of LifeMD to a "strong-buy" rating in a research note on Tuesday, March 11th. HC Wainwright reaffirmed a "buy" rating and issued a $14.00 target price on shares of LifeMD in a research note on Wednesday, April 30th. Finally, BTIG Research upped their target price on shares of LifeMD from $15.00 to $18.00 and gave the stock a "buy" rating in a research note on Wednesday. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, LifeMD has a consensus rating of "Buy" and an average target price of $12.00.

Institutional Investors Weigh In On LifeMD

Several institutional investors and hedge funds have recently added to or reduced their stakes in LFMD. Rhumbline Advisers raised its holdings in shares of LifeMD by 6.1% in the 4th quarter. Rhumbline Advisers now owns 48,689 shares of the company's stock valued at $241,000 after purchasing an additional 2,814 shares during the period. Los Angeles Capital Management LLC raised its holdings in shares of LifeMD by 4.8% in the 4th quarter. Los Angeles Capital Management LLC now owns 127,435 shares of the company's stock valued at $631,000 after purchasing an additional 5,850 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of LifeMD by 5.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 108,478 shares of the company's stock valued at $537,000 after purchasing an additional 6,034 shares during the period. Raymond James Financial Inc. bought a new stake in shares of LifeMD in the 4th quarter valued at about $473,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of LifeMD by 21.6% in the 4th 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. 35.52% of the stock is owned by institutional investors.

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.