Medifast (MED) Lowered to “Hold” at ValuEngine

Medifast (NYSE:MED) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a report issued on Wednesday.

Several other analysts have also issued reports on MED. Zacks Investment Research lowered shares of Medifast from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 25th. DA Davidson boosted their price target on shares of Medifast to $249.00 and gave the company a “buy” rating in a research report on Friday, August 3rd.

Shares of NYSE MED traded down $61.57 during midday trading on Wednesday, hitting $153.31. The company’s stock had a trading volume of 978,100 shares, compared to its average volume of 208,905. Medifast has a one year low of $61.96 and a one year high of $260.98. The firm has a market cap of $2.53 billion, a P/E ratio of 66.95, a price-to-earnings-growth ratio of 2.35 and a beta of 0.54.

Medifast (NYSE:MED) last posted its quarterly earnings results on Tuesday, November 6th. The specialty retailer reported $1.14 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.14. Medifast had a net margin of 10.87% and a return on equity of 37.25%. The company had revenue of $139.20 million for the quarter, compared to analyst estimates of $125.20 million. During the same quarter in the previous year, the firm posted $0.55 earnings per share. The company’s quarterly revenue was up 80.3% compared to the same quarter last year. As a group, equities research analysts expect that Medifast will post 4.5 earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the stock. Centaurus Financial Inc. bought a new stake in Medifast during the 2nd quarter worth approximately $103,000. Meadow Creek Investment Management LLC bought a new stake in Medifast during the 2nd quarter worth approximately $110,000. Neuburgh Advisers LLC bought a new stake in Medifast during the 2nd quarter worth approximately $152,000. Creative Planning bought a new stake in Medifast during the 3rd quarter worth approximately $262,000. Finally, Tyers Asset Management LLC bought a new stake in Medifast during the 2nd quarter worth approximately $193,000. 88.07% of the stock is currently owned by institutional investors and hedge funds.

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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