DA Davidson Lowers Medifast (NYSE:MED) Price Target to $25.00

Medifast (NYSE:MED) had its price target decreased by investment analysts at DA Davidson from $40.00 to $25.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the specialty retailer’s stock. DA Davidson’s target price indicates a potential downside of 5.14% from the company’s previous close.

Separately, TheStreet downgraded Medifast from a “c” rating to a “d+” rating in a research note on Wednesday, February 21st.

Medifast Price Performance

Medifast stock opened at $26.36 on Tuesday. The company’s 50 day simple moving average is $35.52 and its 200 day simple moving average is $53.93. The firm has a market capitalization of $288.32 million, a price-to-earnings ratio of 4.25 and a beta of 1.14. Medifast has a fifty-two week low of $25.92 and a fifty-two week high of $109.52.

Medifast (NYSE:MED) last issued its quarterly earnings data on Monday, April 29th. The specialty retailer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.12). The business had revenue of $174.74 million during the quarter, compared to analyst estimates of $168.90 million. Medifast had a net margin of 7.55% and a return on equity of 37.47%. Medifast’s revenue for the quarter was down 49.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.67 earnings per share. As a group, analysts predict that Medifast will post 1.91 EPS for the current fiscal year.

Insider Transactions at Medifast

In related news, Director Scott Schlackman sold 4,053 shares of the stock in a transaction on Friday, March 8th. The shares were sold at an average price of $39.44, for a total transaction of $159,850.32. Following the completion of the transaction, the director now owns 7,785 shares in the company, valued at $307,040.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.06% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Medifast

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. CWM LLC raised its holdings in Medifast by 223.8% during the third quarter. CWM LLC now owns 531 shares of the specialty retailer’s stock worth $40,000 after acquiring an additional 367 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Medifast during the 3rd quarter worth approximately $531,000. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Medifast by 54.0% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 34,880 shares of the specialty retailer’s stock valued at $2,611,000 after buying an additional 12,230 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Medifast by 2.1% in the third quarter. Bank of New York Mellon Corp now owns 194,369 shares of the specialty retailer’s stock valued at $14,549,000 after buying an additional 4,005 shares in the last quarter. Finally, Rowlandmiller & PARTNERS.ADV grew its stake in shares of Medifast by 38.5% in the third quarter. Rowlandmiller & PARTNERS.ADV now owns 8,087 shares of the specialty retailer’s stock valued at $605,000 after buying an additional 2,250 shares in the last quarter. 95.51% of the stock is owned by 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.