Geode Capital Management LLC Has $4.29 Million Holdings in LifeMD, Inc. (NASDAQ:LFMD)

Geode Capital Management LLC increased its stake in shares of LifeMD, Inc. (NASDAQ:LFMD) by 11.4% during the third quarter, HoldingsChannel.com reports. The fund owned 819,233 shares of the company’s stock after purchasing an additional 83,598 shares during the period. Geode Capital Management LLC’s holdings in LifeMD were worth $4,293,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Los Angeles Capital Management LLC boosted its position in LifeMD by 852.6% during the third quarter. Los Angeles Capital Management LLC now owns 121,585 shares of the company’s stock worth $637,000 after purchasing an additional 108,822 shares during the period. State Street Corp grew its holdings in shares of LifeMD by 20.0% during the 3rd quarter. State Street Corp now owns 1,155,495 shares of the company’s stock worth $6,055,000 after purchasing an additional 192,861 shares in the last quarter. The Manufacturers Life Insurance Company bought a new stake in shares of LifeMD during the second quarter valued at approximately $93,000. Centiva Capital LP acquired a new position in shares of LifeMD in the third quarter valued at $196,000. Finally, Royce & Associates LP lifted its position in LifeMD by 14.6% in the third quarter. Royce & Associates LP now owns 901,041 shares of the company’s stock worth $4,721,000 after purchasing an additional 114,710 shares during the period. 35.52% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on LFMD shares. HC Wainwright reissued a “buy” rating and issued a $12.00 price target on shares of LifeMD in a report on Monday, November 11th. Mizuho initiated coverage on LifeMD in a report on Wednesday, December 4th. They issued a “neutral” rating and a $7.00 target price on the stock. Lake Street Capital began coverage on LifeMD in a research report on Tuesday, December 10th. They set a “buy” rating and a $12.00 price target on the stock. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $15.00 price objective on shares of LifeMD in a research report on Friday, September 20th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $11.57.

Insider Activity

In related news, CEO Justin Schreiber sold 25,000 shares of LifeMD 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 transaction, the chief executive officer now owns 2,728,715 shares of the company’s stock, valued at $17,791,221.80. This trade represents a 0.91 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 15.97% of the company’s stock.

LifeMD Price Performance

LifeMD stock opened at $5.75 on Monday. The business’s 50-day simple moving average is $5.50 and its 200 day simple moving average is $5.58. 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 stock has a market cap of $249.04 million, a price-to-earnings ratio of -8.98 and a beta of 1.38. LifeMD, Inc. has a 12-month low of $3.99 and a 12-month high of $12.88.

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.