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

Medifast (NYSE:MED) had its price objective cut by investment analysts at DA Davidson from $17.00 to $16.50 in a report released on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the specialty retailer’s stock. DA Davidson’s price target would suggest a potential upside of 15.01% from the stock’s previous close.

Medifast Stock Performance

Shares of MED traded down $1.78 during trading hours on Wednesday, reaching $14.35. 682,403 shares of the company traded hands, compared to its average volume of 226,522. The company has a quick ratio of 2.55, a current ratio of 3.11 and a debt-to-equity ratio of 0.06. The business has a fifty day moving average price of $16.49 and a 200-day moving average price of $18.02. Medifast has a 12-month low of $14.16 and a 12-month high of $49.90. The stock has a market capitalization of $156.96 million, a P/E ratio of 21.74 and a beta of 1.14.

Medifast (NYSE:MED) last posted its quarterly earnings results on Tuesday, February 18th. The specialty retailer reported $0.10 earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.26. Medifast had a return on equity of 15.98% and a net margin of 1.09%. The business had revenue of $119.00 million for the quarter, compared to the consensus estimate of $114.25 million. Equities analysts anticipate that Medifast will post 1.68 EPS for the current fiscal year.

Institutional Trading of Medifast

Institutional investors and hedge funds have recently bought and sold shares of the business. Exchange Traded Concepts LLC raised its holdings in shares of Medifast by 4.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 17,106 shares of the specialty retailer’s stock worth $301,000 after purchasing an additional 674 shares during the last quarter. Northern Trust Corp grew its position in Medifast by 0.9% during the 4th quarter. Northern Trust Corp now owns 101,775 shares of the specialty retailer’s stock worth $1,793,000 after purchasing an additional 871 shares during the period. Centiva Capital LP grew its position in Medifast by 6.3% during the 3rd quarter. Centiva Capital LP now owns 15,238 shares of the specialty retailer’s stock worth $292,000 after purchasing an additional 898 shares during the period. Wells Fargo & Company MN raised its stake in shares of Medifast by 23.5% during the 4th quarter. Wells Fargo & Company MN now owns 6,459 shares of the specialty retailer’s stock valued at $114,000 after buying an additional 1,227 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Medifast by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 245,929 shares of the specialty retailer’s stock valued at $4,335,000 after buying an additional 1,447 shares during the period. 95.51% of the stock is currently owned by institutional investors and hedge funds.

About Medifast

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.