LifeMD, Inc. (NASDAQ:LFMD) Shares Bought by State Street Corp

State Street Corp raised its position in LifeMD, Inc. (NASDAQ:LFMD) by 20.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,155,495 shares of the company’s stock after acquiring an additional 192,861 shares during the period. State Street Corp’s holdings in LifeMD were worth $6,055,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Los Angeles Capital Management LLC grew its position in LifeMD by 852.6% in the 3rd quarter. Los Angeles Capital Management LLC now owns 121,585 shares of the company’s stock valued at $637,000 after acquiring an additional 108,822 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new stake in LifeMD during the second quarter worth approximately $93,000. Centiva Capital LP acquired a new stake in shares of LifeMD during the third quarter worth about $196,000. Royce & Associates LP grew its position in shares of LifeMD by 14.6% during the third quarter. Royce & Associates LP now owns 901,041 shares of the company’s stock worth $4,721,000 after acquiring an additional 114,710 shares during the last quarter. Finally, Deerfield Management Company L.P. Series C grew its holdings in shares of LifeMD by 25.6% during the second quarter. Deerfield Management Company L.P. Series C now owns 40,289 shares of the company’s stock worth $276,000 after buying an additional 8,204 shares during the last quarter. Hedge funds and other institutional investors own 35.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on LFMD shares. Mizuho assumed coverage on LifeMD in a report on Wednesday, December 4th. They issued a “neutral” rating and a $7.00 price target for the company. Lake Street Capital started coverage on shares of LifeMD in a research note on Tuesday, December 10th. They set a “buy” rating and a $12.00 price objective on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $15.00 price target on shares of LifeMD in a research report on Friday, September 20th. Finally, HC Wainwright restated a “buy” rating and issued a $12.00 price target on shares of LifeMD in a report on Monday, November 11th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, LifeMD has an average rating of “Moderate Buy” and an average target price of $11.57.

Insider Buying and Selling at LifeMD

In other LifeMD news, CEO Justin Schreiber sold 25,000 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $6.52, for a total value of $163,000.00. Following the transaction, the chief executive officer now owns 2,728,715 shares of the company’s stock, valued at approximately $17,791,221.80. This represents a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 15.97% of the stock is owned by corporate insiders.

LifeMD Trading Down 1.7 %

Shares of NASDAQ:LFMD opened at $5.22 on Friday. The company has a quick ratio of 0.78, a current ratio of 0.83 and a debt-to-equity ratio of 10.83. The company’s 50-day moving average price is $5.42 and its 200 day moving average price is $5.69. The company has a market cap of $226.09 million, a PE ratio of -8.16 and a beta of 1.38. LifeMD, Inc. has a fifty-two week low of $3.99 and a fifty-two week high of $12.88.

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.