Raymond James Financial Inc. Acquires Shares of 95,557 LifeMD, Inc. (NASDAQ:LFMD)

Raymond James Financial Inc. bought a new position in shares of LifeMD, Inc. (NASDAQ:LFMD) during the 4th quarter, Holdings Channel reports. The firm bought 95,557 shares of the company’s stock, valued at approximately $473,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Royce & Associates LP grew its holdings in LifeMD by 23.9% during the 4th quarter. Royce & Associates LP now owns 1,115,991 shares of the company’s stock worth $5,524,000 after acquiring an additional 214,950 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of LifeMD by 21.6% during 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 purchasing an additional 165,378 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of LifeMD by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 822,217 shares of the company’s stock valued at $4,071,000 after purchasing an additional 2,984 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of LifeMD by 45.2% in the fourth quarter. Renaissance Technologies LLC now owns 510,000 shares of the company’s stock valued at $2,524,000 after purchasing an additional 158,796 shares in the last quarter. Finally, Los Angeles Capital Management LLC raised its position in LifeMD by 4.8% in the 4th quarter. Los Angeles Capital Management LLC now owns 127,435 shares of the company’s stock worth $631,000 after purchasing an additional 5,850 shares during the last quarter. 35.52% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other LifeMD news, CMO Jessica Friedeman sold 30,000 shares of the stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $5.66, for a total value of $169,800.00. Following the completion of the sale, the chief marketing officer now directly owns 170,000 shares in the company, valued at $962,200. This 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 is available through the SEC website. Also, CEO Justin Schreiber sold 21,995 shares of the firm’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $7.53, for a total value of $165,622.35. Following the sale, the chief executive officer now directly owns 2,553,726 shares in the company, valued at approximately $19,229,556.78. This represents a 0.85 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 151,995 shares of company stock worth $1,101,922. Company insiders own 15.97% of the company’s stock.

LifeMD Stock Up 1.2 %

Shares of LifeMD stock opened at $8.26 on Friday. The business has a fifty day simple moving average of $5.86 and a 200 day simple moving average of $5.68. The stock has a market cap of $363.18 million, a PE ratio of -12.91 and a beta of 2.22. LifeMD, Inc. has a 12 month low of $3.99 and a 12 month high of $9.87.

LifeMD (NASDAQ:LFMD) last posted its earnings results on Tuesday, May 6th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate 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. Analysts expect that LifeMD, Inc. will post -0.56 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $15.00 target price on shares of LifeMD in a research note on Tuesday, March 11th. HC Wainwright reiterated a “buy” rating and issued a $14.00 price objective on shares of LifeMD in a research report on Wednesday, April 30th. Finally, B. Riley upgraded shares of LifeMD to a “strong-buy” rating in a research report on Tuesday, March 11th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, LifeMD has an average rating of “Buy” and an average target price of $11.00.

LifeMD Profile

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.