LifeMD (NASDAQ:LFMD) Shares Down 4.6% – Time to Sell?

Shares of LifeMD, Inc. (NASDAQ:LFMD) dropped 4.6% during mid-day trading on Monday . The company traded as low as $12.24 and last traded at $12.14. Approximately 620,984 shares changed hands during mid-day trading, a decline of 38% from the average daily volume of 1,008,130 shares. The stock had previously closed at $12.72.

Analyst Ratings Changes

LFMD has been the subject of several research reports. B. Riley raised shares of LifeMD to a “strong-buy” rating in a report on Tuesday, March 11th. Cantor Fitzgerald restated 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 price objective on shares of LifeMD in a research report on Wednesday, April 30th. One 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 data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $11.00.

LifeMD Price Performance

The stock has a market cap of $543.79 million, a price-to-earnings ratio of -18.69 and a beta of 2.42. The company’s 50 day moving average is $8.11 and its 200 day moving average is $6.52.

LifeMD (NASDAQ:LFMD) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.05. The business had revenue of $65.70 million for the quarter, compared to analyst estimates of $62.47 million. Sell-side analysts predict that LifeMD, Inc. will post -0.56 earnings per share for the current year.

Insider Transactions at LifeMD

In other news, CEO Justin Schreiber sold 25,000 shares of LifeMD stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $12.47, for a total transaction of $311,750.00. Following the sale, the chief executive officer now directly owns 2,525,721 shares in the company, valued at approximately $31,495,740.87. The trade was a 0.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Jessica Friedeman sold 30,000 shares of the firm’s 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 transaction, the chief marketing officer now owns 170,000 shares in the company, valued at approximately $962,200. This trade represents a 15.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 126,995 shares of company stock valued at $1,036,172 over the last ninety days. Corporate insiders own 18.40% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Royce & Associates LP raised its position in shares of LifeMD by 3.5% in the first quarter. Royce & Associates LP now owns 1,155,231 shares of the company’s stock valued at $6,284,000 after purchasing an additional 39,240 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of LifeMD by 5.4% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 981,894 shares of the company’s stock valued at $5,342,000 after purchasing an additional 50,600 shares during the period. Millennium Management LLC boosted its position in shares of LifeMD by 17.1% during the 4th quarter. Millennium Management LLC now owns 885,987 shares of the company’s stock valued at $4,386,000 after purchasing an additional 129,327 shares in the last quarter. Geode Capital Management LLC increased its holdings in LifeMD by 0.4% in the fourth 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, Renaissance Technologies LLC increased its stake 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 in the last quarter. Institutional investors and hedge funds own 35.52% 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.