Connective Capital Management LLC Purchases Shares of 52,899 LifeMD, Inc. (NASDAQ:LFMD)

Connective Capital Management LLC acquired a new position in shares of LifeMD, Inc. (NASDAQ:LFMD) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 52,899 shares of the company’s stock, valued at approximately $363,000. LifeMD comprises approximately 0.7% of Connective Capital Management LLC’s portfolio, making the stock its 22nd biggest holding.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in LifeMD by 12.5% during the first quarter. Vanguard Group Inc. now owns 1,155,193 shares of the company’s stock worth $11,875,000 after buying an additional 128,701 shares during the last quarter. G2 Investment Partners Management LLC raised its position in shares of LifeMD by 23.9% in the 4th quarter. G2 Investment Partners Management LLC now owns 688,050 shares of the company’s stock worth $5,704,000 after acquiring an additional 132,850 shares in the last quarter. Cubist Systematic Strategies LLC lifted its stake in shares of LifeMD by 15.1% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 551,344 shares of the company’s stock valued at $3,782,000 after purchasing an additional 72,203 shares during the period. Bank of New York Mellon Corp boosted its position in shares of LifeMD by 63.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 234,583 shares of the company’s stock valued at $1,609,000 after purchasing an additional 91,183 shares in the last quarter. Finally, Squarepoint Ops LLC grew its stake in LifeMD by 23.8% during the second quarter. Squarepoint Ops LLC now owns 154,390 shares of the company’s stock worth $1,059,000 after purchasing an additional 29,692 shares during the period. 35.52% of the stock is owned by institutional investors and hedge funds.

LifeMD Stock Performance

LFMD opened at $5.21 on Monday. LifeMD, Inc. has a 1-year low of $4.65 and a 1-year high of $12.88. The company has a market cap of $217.55 million, a price-to-earnings ratio of -7.04 and a beta of 1.19. The company’s fifty day moving average price is $5.55 and its two-hundred day moving average price is $7.72. The company has a current ratio of 0.87, a quick ratio of 0.83 and a debt-to-equity ratio of 10.83.

LifeMD (NASDAQ:LFMD) last posted its earnings results on Wednesday, August 7th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.06). The company had revenue of $50.66 million for the quarter, compared to the consensus estimate of $48.47 million. During the same quarter in the previous year, the company earned ($0.23) EPS. On average, analysts expect that LifeMD, Inc. will post -0.49 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

LFMD has been the topic of several recent analyst reports. KeyCorp dropped their price target on LifeMD from $12.00 to $10.00 and set an “overweight” rating on the stock in a research note on Thursday, July 11th. Cantor Fitzgerald reiterated an “overweight” rating and set a $15.00 target price on shares of LifeMD in a research report on Friday, September 20th. Finally, B. Riley started coverage on shares of LifeMD in a report on Friday, August 23rd. They issued a “buy” rating and a $11.00 price target for the company. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $12.00.

LifeMD Company 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.