Geode Capital Management LLC Increases Stock Holdings in LifeMD, Inc. (NASDAQ:LFMD)

Geode Capital Management LLC increased its stake in shares of LifeMD, Inc. (NASDAQ:LFMD) by 11.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 819,233 shares of the company’s stock after purchasing an additional 83,598 shares during the quarter. Geode Capital Management LLC owned approximately 1.89% of LifeMD worth $4,293,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the business. Quest Partners LLC acquired a new position in shares of LifeMD in the 2nd quarter valued at about $31,000. nVerses Capital LLC acquired a new stake in shares of LifeMD in the third quarter valued at about $46,000. Intech Investment Management LLC acquired a new stake in shares of LifeMD in the third quarter valued at about $54,000. CWM LLC purchased a new stake in shares of LifeMD during the 3rd quarter valued at about $59,000. Finally, Los Angeles Capital Management LLC acquired a new position in LifeMD during the 2nd quarter worth approximately $88,000. Hedge funds and other institutional investors own 35.52% of the company’s stock.

Insider Activity at LifeMD

In related news, CEO Justin Schreiber sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $6.52, for a total transaction of $163,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,728,715 shares in the company, valued at approximately $17,791,221.80. This trade represents a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 15.97% of the stock is currently owned by corporate insiders.

LifeMD Price Performance

Shares of NASDAQ:LFMD opened at $5.75 on Monday. The stock has a fifty day moving average of $5.50 and a 200-day moving average of $5.58. The company has a market capitalization of $249.04 million, a PE ratio of -8.98 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, Inc. has a one year low of $3.99 and a one year high of $12.88.

Analyst Upgrades and Downgrades

LFMD has been the topic of several analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $15.00 price target on shares of LifeMD in a research note on Friday, September 20th. Mizuho began coverage on shares of LifeMD in a report on Wednesday, December 4th. They issued a “neutral” rating and a $7.00 price objective for the company. Lake Street Capital assumed coverage on shares of LifeMD in a research report on Tuesday, December 10th. They set a “buy” rating and a $12.00 price target for the company. Finally, HC Wainwright restated a “buy” rating and set a $12.00 price objective 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 assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $11.57.

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.