Bertrand Velge Acquires 60,000 Shares of LifeMD, Inc. (NASDAQ:LFMD) Stock

LifeMD, Inc. (NASDAQ:LFMD) Director Bertrand Velge bought 60,000 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The shares were bought at an average cost of $3.93 per share, with a total value of $235,800.00. Following the completion of the purchase, the director now directly owns 349,482 shares of the company’s stock, valued at approximately $1,373,464.26. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link.

Bertrand Velge also recently made the following trade(s):

• On Tuesday, August 29th, Bertrand Velge acquired 32,072 shares of LifeMD stock. The shares were purchased at an average price of $3.58 per share, with a total value of $114,817.76.
• On Tuesday, June 13th, Bertrand Velge bought 44,365 shares of LifeMD stock. The stock was purchased at an average price of $2.64 per share, for a total transaction of $117,123.60.
• On Wednesday, June 7th, Bertrand Velge acquired 24,500 shares of LifeMD stock. The stock was purchased at an average cost of $2.19 per share, for a total transaction of $53,655.00.
• On Monday, June 5th, Bertrand Velge purchased 10,383 shares of LifeMD stock. The stock was acquired at an average price of $2.17 per share, for a total transaction of $22,531.11.

LifeMD Trading Up 10.1 %

Shares of NASDAQ:LFMD opened at $4.25 on Friday. The company has a market capitalization of $153.14 million, a price-to-earnings ratio of -4.09 and a beta of 1.66. LifeMD, Inc. has a 12 month low of $1.14 and a 12 month high of $5.45. The firm’s 50-day moving average is $4.12 and its 200 day moving average is $2.68.

LifeMD (NASDAQ:LFMD) last issued its quarterly earnings results on Wednesday, August 9th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.14). LifeMD had a negative return on equity of 7,255.81% and a negative net margin of 23.30%. The business had revenue of $35.95 million during the quarter, compared to analysts’ expectations of $35.29 million. As a group, equities analysts forecast that LifeMD, Inc. will post -0.65 EPS for the current fiscal year.

Institutional Investors Weigh In On LifeMD

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LFMD. Cambridge Investment Research Advisors Inc. grew its stake in LifeMD by 32.9% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 20,200 shares of the company’s stock worth $88,000 after acquiring an additional 5,000 shares in the last quarter. BlackRock Inc. grew its stake in LifeMD by 1.4% in the second quarter. BlackRock Inc. now owns 385,793 shares of the company’s stock worth $1,678,000 after purchasing an additional 5,430 shares in the last quarter. State Street Corp increased its holdings in LifeMD by 8.2% during the 1st quarter. State Street Corp now owns 72,594 shares of the company’s stock worth $256,000 after purchasing an additional 5,471 shares during the period. Renaissance Technologies LLC increased its holdings in LifeMD by 50.0% during the 1st quarter. Renaissance Technologies LLC now owns 16,500 shares of the company’s stock worth $28,000 after purchasing an additional 5,500 shares during the period. Finally, Geode Capital Management LLC raised its position in LifeMD by 4.0% during the 4th quarter. Geode Capital Management LLC now owns 198,867 shares of the company’s stock valued at $385,000 after purchasing an additional 7,723 shares in the last quarter. Institutional investors own 17.57% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on LFMD. B. Riley increased their price target on shares of LifeMD from $3.50 to $7.00 in a report on Monday, July 10th. HC Wainwright reaffirmed a “buy” rating and issued a $9.00 price objective on shares of LifeMD in a research note on Friday, August 11th. Finally, Cantor Fitzgerald started coverage on LifeMD in a report on Friday, July 21st. They issued an “overweight” rating and a $7.00 target price for the company.

About LifeMD

LifeMD, Inc operates as a direct-to-patient telehealth company that connects consumers to healthcare professionals for care across various indications, including urgent and primary care, men's and women's health, and dermatology, chronic care management, and others in the United States. The company provides ShapiroMD, a telehealth platform brand that offers access to virtual medical treatment, prescription medications, patented doctor formulated OTC products, topical compounded medications, and food and drug administration approved medical device for male and female hair loss; RexMD, a men's telehealth brand that offers virtual medical treatment from licensed providers for a variety of men's health needs; LifeMD Primary Care, a virtual primary care platform that provides patients with primary care, urgent care, and chronic care needs, as well as offers a mobile first platform that incorporates virtual consultations and treatment, prescription medications, diagnostics, and imaging; Cleared, a telehealth brand that provides personalized treatments for allergy, asthma, and immunology; and NavaMD, a female-oriented and tele-dermatology brand that offers virtual medical treatment from dermatologists and other providers.