Price T Rowe Associates Inc. MD Grows Position in LifeMD, Inc. (NASDAQ:LFMD)

Price T Rowe Associates Inc. MD grew its position in LifeMD, Inc. (NASDAQ:LFMD) by 26.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,012 shares of the company’s stock after buying an additional 2,895 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in LifeMD were worth $70,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LFMD. Marshall Wace LLP grew its holdings in LifeMD by 522.9% in the 4th quarter. Marshall Wace LLP now owns 371,473 shares of the company’s stock valued at $1,839,000 after buying an additional 311,841 shares during the period. Royce & Associates LP raised its position in shares of LifeMD by 23.9% in the 4th quarter. Royce & Associates LP now owns 1,115,991 shares of the company’s stock valued at $5,524,000 after purchasing an additional 214,950 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased 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 acquiring an additional 165,378 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of LifeMD by 45.2% in the 4th quarter. Renaissance Technologies LLC now owns 510,000 shares of the company’s stock valued at $2,524,000 after acquiring an additional 158,796 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in LifeMD during the 4th quarter worth $473,000. Hedge funds and other institutional investors own 35.52% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. B. Riley upgraded LifeMD to a “strong-buy” rating in a research note on Tuesday, March 11th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $15.00 target price on shares of LifeMD in a report on Tuesday, March 11th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $14.00 target price on shares of LifeMD in a report 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’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $11.00.

LifeMD Price Performance

LFMD opened at $10.72 on Monday. LifeMD, Inc. has a fifty-two week low of $3.99 and a fifty-two week high of $10.99. The business has a 50-day moving average of $6.31 and a 200-day moving average of $5.88. The company has a market capitalization of $487.20 million, a PE ratio of -16.75 and a beta of 2.22.

LifeMD (NASDAQ:LFMD) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.01 earnings per share for the quarter, beating 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. On average, equities research analysts expect that LifeMD, Inc. will post -0.56 earnings per share for the current fiscal year.

Insider Activity at LifeMD

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 stock was 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. This trade represents a 15.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Justin Schreiber sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $7.78, for a total value of $389,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,575,721 shares in the company, valued at $20,039,109.38. This trade represents a 1.90% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 101,995 shares of company stock valued at $724,422. Corporate insiders own 15.97% of the company’s stock.

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.