Medifast (NYSE:MED) Price Target Cut to $16.50 by Analysts at DA Davidson

Medifast (NYSE:MED) had its price target reduced by DA Davidson from $17.00 to $16.50 in a research report report published on Wednesday,Benzinga reports. They currently have a neutral rating on the specialty retailer’s stock.

Medifast Price Performance

MED opened at $14.71 on Wednesday. The business’s 50-day moving average is $16.25 and its two-hundred day moving average is $17.97. Medifast has a 1 year low of $13.57 and a 1 year high of $42.68. The firm has a market capitalization of $160.96 million, a PE ratio of 81.74 and a beta of 1.14.

Medifast (NYSE:MED) last issued its quarterly earnings data on Tuesday, February 18th. The specialty retailer reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.26. Medifast had a net margin of 0.35% and a return on equity of 10.64%. The firm had revenue of $119.00 million for the quarter, compared to the consensus estimate of $114.25 million. As a group, sell-side analysts expect that Medifast will post 0.51 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Wells Fargo & Company MN boosted its holdings in Medifast by 23.5% in the fourth quarter. Wells Fargo & Company MN now owns 6,459 shares of the specialty retailer’s stock worth $114,000 after acquiring an additional 1,227 shares in the last quarter. Quarry LP raised its position in shares of Medifast by 148.6% in the 3rd quarter. Quarry LP now owns 6,629 shares of the specialty retailer’s stock valued at $127,000 after purchasing an additional 3,962 shares during the last quarter. CWM LLC boosted its stake in Medifast by 70.9% in the 3rd quarter. CWM LLC now owns 8,006 shares of the specialty retailer’s stock worth $153,000 after purchasing an additional 3,322 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in Medifast by 1,161.8% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 9,766 shares of the specialty retailer’s stock worth $187,000 after purchasing an additional 8,992 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Medifast during the 3rd quarter worth approximately $206,000. 95.51% of the stock is owned by institutional investors and hedge funds.

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.