Raymond James Financial Inc. Makes New Investment in LifeMD, Inc. (NASDAQ:LFMD)

Raymond James Financial Inc. purchased a new position in LifeMD, Inc. (NASDAQ:LFMD - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 95,557 shares of the company's stock, valued at approximately $473,000. Raymond James Financial Inc. owned about 0.22% of LifeMD as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC grew its position in 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 in the last quarter. Dynamic Technology Lab Private Ltd grew its position in LifeMD by 134.2% during the 4th quarter. Dynamic Technology Lab Private Ltd now owns 100,836 shares of the company's stock worth $499,000 after purchasing an additional 57,788 shares in the last quarter. Wells Fargo & Company MN grew its position in LifeMD by 44.7% during the 4th quarter. Wells Fargo & Company MN now owns 18,732 shares of the company's stock worth $93,000 after purchasing an additional 5,791 shares in the last quarter. Geode Capital Management LLC grew its position in LifeMD by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 822,217 shares of the company's stock worth $4,071,000 after purchasing an additional 2,984 shares in the last quarter. Finally, Prudential Financial Inc. grew its position in LifeMD by 19.3% during the 4th quarter. Prudential Financial Inc. now owns 13,605 shares of the company's stock worth $67,000 after purchasing an additional 2,200 shares in the last quarter. Institutional investors and hedge funds own 35.52% of the company's stock.

LifeMD Stock Up 4.5%

Shares of NASDAQ:LFMD traded up $0.43 during trading on Thursday, reaching $9.99. 1,528,917 shares of the company traded hands, compared to its average volume of 945,649. The firm has a fifty day simple moving average of $6.10 and a 200 day simple moving average of $5.77. The firm has a market cap of $453.89 million, a P/E ratio of -15.47 and a beta of 2.22. LifeMD, Inc. has a 1-year low of $3.99 and a 1-year high of $10.00.

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

Analyst Ratings Changes

Several research firms have weighed in on LFMD. HC Wainwright reiterated a "buy" rating and set a $14.00 price objective on shares of LifeMD in a research report on Wednesday, April 30th. B. Riley upgraded shares of LifeMD to a "strong-buy" rating in a research report on Tuesday, March 11th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $15.00 price objective on shares of LifeMD in a research report on Tuesday, March 11th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, LifeMD currently has an average rating of "Buy" and an average price target of $11.00.

Insider Activity at LifeMD

In related news, CMO Jessica Friedeman sold 30,000 shares of the company's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $5.66, for a total value of $169,800.00. Following the sale, the chief marketing officer now owns 170,000 shares of the company's stock, valued at $962,200. The trade was a 15.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Justin Schreiber sold 50,000 shares of the company's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $7.55, for a total transaction of $377,500.00. Following the completion of the sale, the chief executive officer now directly owns 2,653,715 shares in the company, valued at approximately $20,035,548.25. The trade was a 1.85% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 151,995 shares of company stock valued at $1,101,922. Insiders own 15.97% 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.