Northern Trust Corp Raises Stock Position in LifeMD, Inc. (NASDAQ:LFMD)

Northern Trust Corp grew its stake in LifeMD, Inc. (NASDAQ:LFMD) by 2.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 323,974 shares of the company’s stock after buying an additional 6,634 shares during the period. Northern Trust Corp owned 0.75% of LifeMD worth $1,604,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its position in LifeMD by 496.4% in the third quarter. JPMorgan Chase & Co. now owns 88,173 shares of the company’s stock valued at $462,000 after acquiring an additional 73,389 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in LifeMD by 26.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,012 shares of the company’s stock valued at $70,000 after buying an additional 2,895 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of LifeMD in the fourth quarter valued at approximately $473,000. Charles Schwab Investment Management Inc. grew its position in shares of LifeMD by 5.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 108,478 shares of the company’s stock worth $537,000 after acquiring an additional 6,034 shares during the last quarter. Finally, Barclays PLC boosted its stake in shares of LifeMD by 15.8% during the fourth quarter. Barclays PLC now owns 56,773 shares of the company’s stock worth $281,000 after buying an additional 7,756 shares during the period. 35.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

LifeMD Stock Up 0.3%

Shares of LFMD stock opened at $11.53 on Tuesday. The stock has a market cap of $524.02 million, a price-to-earnings ratio of -18.02 and a beta of 2.22. LifeMD, Inc. has a fifty-two week low of $3.99 and a fifty-two week high of $11.65. The firm’s 50 day moving average price is $6.95 and its two-hundred day moving average price is $6.14.

LifeMD (NASDAQ:LFMD) last released its earnings results on Tuesday, May 6th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.05. The business had revenue of $65.70 million for the quarter, compared to analysts’ expectations of $62.47 million. On average, equities analysts forecast that LifeMD, Inc. will post -0.56 EPS for the current fiscal year.

Insider Transactions at LifeMD

In other news, CEO Justin Schreiber sold 50,000 shares of LifeMD stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $7.78, for a total transaction of $389,000.00. Following the transaction, the chief executive officer now directly owns 2,575,721 shares in the company, valued at approximately $20,039,109.38. This trade represents a 1.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Jessica Friedeman sold 30,000 shares of the business’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 transaction of $169,800.00. Following the completion of the sale, the chief marketing officer now owns 170,000 shares in the company, valued at $962,200. The trade was a 15.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 101,995 shares of company stock worth $724,422. 15.97% of the stock is currently owned by corporate insiders.

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.