Medifast (NYSE:MED) Rating Lowered to Neutral at Dougherty & Co

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Medifast (NYSE:MED) was downgraded by research analysts at Dougherty & Co from a “buy” rating to a “neutral” rating in a research note issued to investors on Friday, Briefing.com Automated Import reports.

A number of other research analysts have also issued reports on MED. Zacks Investment Research lowered shares of Medifast from a “buy” rating to a “hold” rating in a research note on Thursday, October 3rd. ValuEngine raised shares of Medifast from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. DA Davidson lowered shares of Medifast from a “buy” rating to a “neutral” rating and reduced their target price for the company from $250.00 to $74.00 in a research note on Friday. Finally, Jefferies Financial Group assumed coverage on shares of Medifast in a research note on Thursday, July 25th. They set a “buy” rating and a $130.00 target price for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. Medifast presently has an average rating of “Hold” and an average price target of $134.00.

Medifast stock traded down $27.64 during midday trading on Friday, reaching $74.36. 3,379,003 shares of the stock traded hands, compared to its average volume of 294,247. The firm has a fifty day moving average price of $103.69 and a two-hundred day moving average price of $117.92. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of 16.10 and a beta of 0.71. Medifast has a fifty-two week low of $66.50 and a fifty-two week high of $165.70.

Medifast (NYSE:MED) last posted its earnings results on Thursday, November 7th. The specialty retailer reported $1.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.01). The firm had revenue of $190.10 million for the quarter, compared to analyst estimates of $194.70 million. Medifast had a net margin of 11.22% and a return on equity of 61.06%. The company’s revenue for the quarter was up 36.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.14 earnings per share. On average, research analysts expect that Medifast will post 6.86 EPS for the current year.

Large investors have recently modified their holdings of the company. Janney Montgomery Scott LLC acquired a new stake in shares of Medifast in the 2nd quarter worth approximately $329,000. Arizona State Retirement System lifted its stake in shares of Medifast by 0.8% in the 2nd quarter. Arizona State Retirement System now owns 18,456 shares of the specialty retailer’s stock worth $2,368,000 after acquiring an additional 145 shares during the period. Swiss National Bank lifted its stake in shares of Medifast by 6.8% in the 2nd quarter. Swiss National Bank now owns 22,100 shares of the specialty retailer’s stock worth $2,835,000 after acquiring an additional 1,400 shares during the period. BBT Capital Management LLC acquired a new stake in shares of Medifast in the 2nd quarter worth approximately $265,000. Finally, HighTower Advisors LLC lifted its stake in shares of Medifast by 4.4% in the 2nd quarter. HighTower Advisors LLC now owns 2,339 shares of the specialty retailer’s stock worth $299,000 after acquiring an additional 99 shares during the period. 97.24% of the stock is owned by institutional investors.

Medifast Company Profile

Medifast, Inc, through its subsidiaries, manufactures and distributes weight loss, weight management, healthy living products, and other consumable health and nutritional products. It offers bars, bites, pretzels, puffs, oatmeal and cereal crunch products, drinks, hearty choices, pancakes, puddings, soft serves, shakes, smoothies, soft bakes, and soups under the Medifast, OPTAVIA, Thrive by Medifast, Optimal Health by OPTAVIA, Flavors of Home, and Essential 1 brands.

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