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 firm'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 owns 389,554 shares in the company, valued at $5,099,261.86. The trade was a 16.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available 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 Trading Down 2.0%

LFMD stock traded down $0.30 during trading on Friday, hitting $14.76. 2,834,496 shares of the stock traded hands, compared to its average volume of 1,053,583. LifeMD, Inc. has a one year low of $3.99 and a one year high of $15.34. The stock has a market cap of $670.84 million, a price-to-earnings ratio of -43.41 and a beta of 2.42. The company has a 50 day simple moving average of $9.78 and a 200 day simple moving average of $7.01.

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. BTIG Research raised their target price on shares of LifeMD from $15.00 to $18.00 and gave the company a "buy" rating in a research note on Wednesday. B. Riley upgraded shares of LifeMD to a "strong-buy" rating in a research report on Tuesday, March 11th. HC Wainwright restated a "buy" rating and issued a $14.00 price target on shares of LifeMD in a research report on Wednesday, April 30th. Finally, Cantor Fitzgerald restated an "overweight" rating and issued 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 issued a strong buy rating to the company's stock. According to MarketBeat, LifeMD presently has an average rating of "Buy" and a consensus price target of $12.00.

Institutional Investors Weigh In On LifeMD

A number of institutional investors and hedge funds have recently modified their holdings of the business. Rhumbline Advisers grew its holdings in LifeMD by 6.1% during the fourth 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 boosted its holdings in shares of LifeMD by 4.8% in the fourth quarter. Los Angeles Capital Management LLC now owns 127,435 shares of the company's stock valued at $631,000 after buying an additional 5,850 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of LifeMD by 5.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 108,478 shares of the company's stock valued at $537,000 after buying an additional 6,034 shares during the period. Raymond James Financial Inc. acquired a new position in shares of LifeMD in the fourth quarter valued at approximately $473,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of LifeMD by 21.6% in 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 buying 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.