LifeMD, Inc. (NASDAQ:LFMD) Stake Lifted by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. increased its position in shares of LifeMD, Inc. (NASDAQ:LFMD) by 6.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 765,916 shares of the company’s stock after purchasing an additional 48,201 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 1.78% of LifeMD worth $4,013,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. raised its stake in shares of LifeMD by 251.0% in the 1st quarter. Russell Investments Group Ltd. now owns 64,927 shares of the company’s stock worth $667,000 after buying an additional 46,428 shares in the last quarter. Vanguard Group Inc. lifted its holdings in LifeMD by 12.5% in the 1st quarter. Vanguard Group Inc. now owns 1,155,193 shares of the company’s stock valued at $11,875,000 after acquiring an additional 128,701 shares during the last quarter. Ancora Advisors LLC lifted its holdings in LifeMD by 97.8% in the 1st quarter. Ancora Advisors LLC now owns 137,760 shares of the company’s stock valued at $1,416,000 after acquiring an additional 68,110 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of LifeMD in the 1st quarter worth approximately $249,000. Finally, Calamos Advisors LLC bought a new stake in shares of LifeMD in the 2nd quarter worth approximately $394,000. Institutional investors own 35.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on LFMD shares. Cantor Fitzgerald restated an “overweight” rating and set a $15.00 target price on shares of LifeMD in a report on Friday, September 20th. B. Riley began coverage on LifeMD in a research note on Friday, August 23rd. They set a “buy” rating and a $11.00 price objective for the company. Finally, HC Wainwright reaffirmed a “buy” rating and set a $12.00 target price on shares of LifeMD in a research report on Monday, November 11th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $12.00.

LifeMD Price Performance

LFMD opened at $5.80 on Friday. The firm has a market capitalization of $251.21 million, a P/E ratio of -9.06 and a beta of 1.23. The stock has a fifty day moving average of $5.03 and a 200-day moving average of $6.14. The company has a quick ratio of 0.78, a current ratio of 0.83 and a debt-to-equity ratio of 10.83. LifeMD, Inc. has a 12-month low of $3.99 and a 12-month high of $12.88.

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.