State Street Corp Buys 192,861 Shares of LifeMD, Inc. (NASDAQ:LFMD)

State Street Corp boosted its position in LifeMD, Inc. (NASDAQ:LFMD) by 20.0% during the third quarter, according to its most recent 13F filing with the SEC. 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 owned 2.67% of LifeMD worth $6,055,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Quest Partners LLC purchased a new position in LifeMD in the 2nd quarter worth approximately $31,000. nVerses Capital LLC purchased a new position in LifeMD during the 3rd quarter valued at $46,000. Intech Investment Management LLC bought a new position in shares of LifeMD in the 3rd quarter worth approximately $54,000. CWM LLC purchased a new stake in shares of LifeMD in the 3rd quarter worth about $59,000. Finally, Los Angeles Capital Management LLC bought a new stake in shares of LifeMD in the 2nd quarter worth approximately $88,000. 35.52% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Lake Street Capital started coverage on shares of LifeMD in a report on Tuesday, December 10th. They issued a “buy” rating and a $12.00 price objective for the company. Mizuho started coverage on shares of LifeMD in a report on Wednesday, December 4th. They set a “neutral” rating and a $7.00 price target on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $15.00 price target on shares of LifeMD in a report on Friday, September 20th. Finally, HC Wainwright reiterated a “buy” rating and issued a $12.00 price target on shares of LifeMD in a research note on Monday, November 11th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.57.

Insider Buying and Selling

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

LifeMD Trading Down 1.7 %

NASDAQ LFMD opened at $5.22 on Friday. LifeMD, Inc. has a one year low of $3.99 and a one year high of $12.88. The company’s 50-day simple moving average is $5.42 and its two-hundred day simple moving average is $5.69. The company has a market capitalization of $226.09 million, a price-to-earnings ratio of -8.16 and a beta of 1.38. The company has a debt-to-equity ratio of 10.83, a quick ratio of 0.78 and a current ratio of 0.83.

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.