Medifast (NYSE:MED) Trading Down 7.1%

Medifast, Inc. (NYSE:MEDGet Free Report) shares dropped 7.1% during trading on Tuesday . The stock traded as low as $56.75 and last traded at $56.80. Approximately 154,894 shares changed hands during trading, a decline of 43% from the average daily volume of 272,905 shares. The stock had previously closed at $61.17.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on MED shares. Stephens assumed coverage on Medifast in a research report on Friday, October 13th. They set an “equal weight” rating and a $82.00 price target on the stock. StockNews.com lowered shares of Medifast from a “buy” rating to a “hold” rating in a research report on Tuesday, November 7th.

Check Out Our Latest Research Report on Medifast

Medifast Trading Down 0.6 %

The company has a debt-to-equity ratio of 0.09, a current ratio of 2.04 and a quick ratio of 1.51. The business has a 50-day simple moving average of $66.73 and a two-hundred day simple moving average of $77.72. The stock has a market cap of $601.56 million, a price-to-earnings ratio of 5.04 and a beta of 1.20.

Medifast (NYSE:MEDGet Free Report) last issued its earnings results on Monday, November 6th. The specialty retailer reported $2.12 EPS for the quarter, topping the consensus estimate of $1.02 by $1.10. Medifast had a return on equity of 76.08% and a net margin of 9.84%. The company had revenue of $235.87 million during the quarter, compared to the consensus estimate of $232.10 million. During the same period in the previous year, the company posted $3.32 EPS. The firm’s revenue for the quarter was down 39.6% compared to the same quarter last year. Equities analysts forecast that Medifast, Inc. will post 9.35 EPS for the current fiscal year.

Hedge Funds Weigh In On Medifast

Large investors have recently modified their holdings of the stock. Raymond James & Associates grew its stake in Medifast by 437.5% in the 1st quarter. Raymond James & Associates now owns 14,550 shares of the specialty retailer’s stock valued at $2,485,000 after buying an additional 11,843 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in shares of Medifast by 4.5% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 1,488 shares of the specialty retailer’s stock valued at $254,000 after purchasing an additional 64 shares during the last quarter. HighTower Advisors LLC increased its stake in shares of Medifast by 3.4% during the first quarter. HighTower Advisors LLC now owns 2,600 shares of the specialty retailer’s stock worth $443,000 after purchasing an additional 86 shares during the period. Cetera Advisor Networks LLC lifted its holdings in Medifast by 7.0% during the 1st quarter. Cetera Advisor Networks LLC now owns 3,077 shares of the specialty retailer’s stock worth $526,000 after purchasing an additional 200 shares during the last quarter. Finally, Citigroup Inc. boosted its stake in Medifast by 19.1% in the 1st quarter. Citigroup Inc. now owns 13,490 shares of the specialty retailer’s stock valued at $2,304,000 after purchasing an additional 2,166 shares during the period. 87.83% of the stock is owned by institutional investors.

About Medifast

(Get Free Report)

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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