Medifast (NYSE:MED) Given New $25.00 Price Target at DA Davidson

Medifast (NYSE:MED) had its price target decreased by DA Davidson from $40.00 to $25.00 in a research note released on Tuesday, Benzinga reports. DA Davidson currently has a neutral rating on the specialty retailer’s stock.

Separately, TheStreet lowered shares of Medifast from a c rating to a d+ rating in a research report on Wednesday, February 21st.

Medifast Stock Performance

MED stock opened at $27.55 on Tuesday. The firm has a market cap of $300.30 million, a PE ratio of 3.02 and a beta of 1.14. The firm’s fifty day moving average is $35.80 and its 200 day moving average is $54.13. Medifast has a one year low of $26.02 and a one year high of $109.52.

Medifast (NYSE:MED) last released its quarterly earnings results on Monday, April 29th. The specialty retailer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.12). The firm had revenue of $174.74 million for the quarter, compared to analyst estimates of $168.90 million. Medifast had a net margin of 9.27% and a return on equity of 56.06%. The firm’s quarterly revenue was down 49.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.67 EPS. Research analysts predict that Medifast will post 1.91 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Scott Schlackman sold 4,053 shares of Medifast stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $39.44, for a total value of $159,850.32. Following the sale, the director now owns 7,785 shares in the company, valued at $307,040.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 2.06% of the company’s stock.

Hedge Funds Weigh In On Medifast

Several hedge funds and other institutional investors have recently modified their holdings of MED. Pacer Advisors Inc. lifted its stake in shares of Medifast by 62.9% in the fourth quarter. Pacer Advisors Inc. now owns 522,732 shares of the specialty retailer’s stock worth $35,138,000 after buying an additional 201,752 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of Medifast by 67.3% in the fourth quarter. First Trust Advisors LP now owns 397,443 shares of the specialty retailer’s stock worth $26,716,000 after buying an additional 159,817 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Medifast by 7.2% in the fourth quarter. Vanguard Group Inc. now owns 1,686,957 shares of the specialty retailer’s stock worth $113,397,000 after buying an additional 113,734 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in shares of Medifast by 110.1% in the third quarter. Jacobs Levy Equity Management Inc. now owns 129,650 shares of the specialty retailer’s stock worth $9,704,000 after buying an additional 67,951 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of Medifast by 327.3% in the third quarter. American Century Companies Inc. now owns 64,761 shares of the specialty retailer’s stock worth $4,847,000 after buying an additional 49,605 shares in the last quarter. 95.51% of the stock is owned by hedge funds and other institutional investors.

Medifast Company Profile

Medifast, Inc, through its subsidiaries, engages in the manufacture and sale of weight loss, weight management, and healthy living products in the United States and the Asia-Pacific. It offers bars, puffs, cereal, crunchers, drinks, hearty choices, oatmeal, pancakes, pudding, soft serve, shakes, smoothies, soft bakes, and soups under the OPTAVIA, OPTAVIA ACTIVE, and Optimal Health brand names.