NEW YORK—Justin Schreiber, the Chief Executive Officer of LifeMD, Inc. (NASDAQ:LFMD), has sold a significant portion of his holdings in the company. According to a recent SEC filing, Schreiber disposed of 25,000 shares of LifeMD common stock on January 2, 2025. The shares were sold at a weighted average price of $5.1867, resulting in a total transaction value of approximately $129,667. The sale comes as LifeMD, currently valued at $250 million, demonstrates strong momentum with a 13% gain in the past week. InvestingPro analysis indicates the stock is currently trading below its Fair Value.
The sales were executed in multiple transactions, with prices ranging from $4.995 to $5.350 per share. Following this transaction, Schreiber now holds 2,703,715 shares indirectly through Schreiber Holdings LLC and 200,000 shares directly.
LifeMD, a company previously known as Conversion Labs, Inc., operates in the healthcare sector, providing telemedicine services and products. The company is headquartered in New York, NY.
In other recent news, LifeMD has announced significant developments in its financial performance and leadership compensation. The healthcare company has reported a 38% increase in total revenues, reaching $53.4 million, with a significant surge in telehealth revenue by 65%. LifeMD now caters to nearly 270,000 patient subscribers and has launched a new National Pharmacy in Pennsylvania. Additionally, effective January 1, 2025, Chairman and CEO Justin Schreiber's annual base salary will increase to $500,000, following an amendment to his employment agreement.
The company has also been the focus of analyst attention. Lake Street Capital Markets initiated coverage with a Buy rating and a price target of $12.00, highlighting the company's expansion and the potential of its weight management offering. Meanwhile, Mizuho (NYSE:MFG) started coverage with a Neutral rating and a price target of $7.00, acknowledging the company's growth while also considering potential risks.
LifeMD is actively expanding its capabilities and infrastructure, with a new 22,000 square foot pharmacy and broadening commercial insurance coverage for its patients. The company has also expanded its RexMD men's health offering to include hormone therapy. These recent developments indicate a strong trajectory for the company's growth and profitability.
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