Medifast (NYSE:MED) PT Raised to $352.00 at DA Davidson

Medifast (NYSE:MEDGet Rating) had its target price lifted by research analysts at DA Davidson from $341.00 to $352.00 in a research report issued on Thursday, Stock Target Advisor reports. The brokerage presently has a “buy” rating on the specialty retailer’s stock. DA Davidson’s price objective suggests a potential upside of 101.36% from the stock’s previous close.

Separately, StockNews.com lowered shares of Medifast from a “buy” rating to a “hold” rating in a research note on Wednesday, May 4th.

Shares of Medifast stock opened at $174.81 on Thursday. Medifast has a 12-month low of $154.67 and a 12-month high of $329.32. The firm has a market capitalization of $2.01 billion, a price-to-earnings ratio of 12.47 and a beta of 1.31. The firm’s 50 day simple moving average is $176.04 and its two-hundred day simple moving average is $190.23.

Medifast (NYSE:MEDGet Rating) last posted its quarterly earnings data on Monday, May 2nd. The specialty retailer reported $3.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.56 by $0.03. The business had revenue of $417.60 million for the quarter, compared to the consensus estimate of $415.20 million. Medifast had a net margin of 10.28% and a return on equity of 81.42%. Equities research analysts anticipate that Medifast will post 15.49 EPS for the current fiscal year.

In other Medifast news, CEO Daniel R. Chard acquired 431 shares of the firm’s stock in a transaction that occurred on Thursday, May 5th. The shares were acquired at an average cost of $183.25 per share, for a total transaction of $78,980.75. Following the transaction, the chief executive officer now directly owns 108,598 shares of the company’s stock, valued at $19,900,583.50. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Andrea B. Thomas sold 1,150 shares of the business’s stock in a transaction dated Thursday, March 10th. The shares were sold at an average price of $174.31, for a total transaction of $200,456.50. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Gladius Capital Management LP increased its position in Medifast by 18.4% in the first quarter. Gladius Capital Management LP now owns 541 shares of the specialty retailer’s stock worth $93,000 after buying an additional 84 shares during the period. Captrust Financial Advisors boosted its position in Medifast by 114.6% during the 1st quarter. Captrust Financial Advisors now owns 648 shares of the specialty retailer’s stock worth $112,000 after acquiring an additional 346 shares during the period. Macquarie Group Ltd. boosted its position in Medifast by 20.1% during the 3rd quarter. Macquarie Group Ltd. now owns 634 shares of the specialty retailer’s stock worth $122,000 after acquiring an additional 106 shares during the period. Islay Capital Management LLC purchased a new stake in shares of Medifast during the 4th quarter worth about $133,000. Finally, PEAK6 Investments LLC raised its stake in shares of Medifast by 111.9% during the 4th quarter. PEAK6 Investments LLC now owns 959 shares of the specialty retailer’s stock worth $201,000 after purchasing an additional 9,015 shares in the last quarter. Hedge funds and other institutional investors own 84.78% of the company’s stock.

Medifast Company Profile (Get Rating)

Medifast, Inc, through its subsidiaries, manufactures and distributes weight loss, weight management, healthy living products, and other consumable health and nutritional products in the United States and the Asia-Pacific. The company offers bars, bites, pretzels, puffs, cereal crunch, drinks, hearty choices, oatmeal, pancakes, pudding, soft serves, shakes, smoothies, soft bakes, and soups under the OPTAVIA, Optimal Health by Take Shape for Life, and Flavors of Home brands.

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