Raymond James Financial Inc. Purchases New Position in LifeMD, Inc. (NASDAQ:LFMD)

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

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. AXQ Capital LP bought a new stake in LifeMD in the 4th quarter valued at $57,000. Quantbot Technologies LP acquired a new stake in shares of LifeMD during the 4th quarter valued at about $59,000. Prudential Financial Inc. increased its stake in LifeMD by 19.3% in the fourth quarter. Prudential Financial Inc. now owns 13,605 shares of the company's stock valued at $67,000 after acquiring an additional 2,200 shares during the period. Magnus Financial Group LLC raised its position in LifeMD by 31.1% in the fourth quarter. Magnus Financial Group LLC now owns 16,000 shares of the company's stock worth $79,000 after purchasing an additional 3,792 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its stake in LifeMD by 44.7% during the fourth 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 during the period. 35.52% of the stock is owned by institutional investors.

LifeMD Price Performance

Shares of LFMD stock traded down $0.03 during trading hours on Tuesday, hitting $8.52. 1,542,901 shares of the company's stock were exchanged, compared to its average volume of 930,416. LifeMD, Inc. has a 52 week low of $3.99 and a 52 week high of $9.87. The stock has a market cap of $387.22 million, a price-to-earnings ratio of -13.31 and a beta of 2.22. The stock's 50-day moving average is $5.93 and its 200-day moving average is $5.73.

LifeMD (NASDAQ:LFMD - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.05. The company 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 earnings per share for the current fiscal year.

Insider Buying and Selling

In other LifeMD news, 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 transaction, the chief marketing officer now directly owns 170,000 shares of the company's stock, valued at approximately $962,200. This trade represents a 15.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Justin Schreiber sold 21,995 shares of the company's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $7.53, for a total transaction of $165,622.35. Following the sale, the chief executive officer now owns 2,553,726 shares of the company's stock, valued at $19,229,556.78. The trade was a 0.85% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 151,995 shares of company stock worth $1,101,922 over the last three months. 15.97% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

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.