DA Davidson Cuts Medifast (NYSE:MED) Price Target to $16.50

Medifast (NYSE:MED) had its price objective lowered by DA Davidson from $17.00 to $16.50 in a research report sent to investors on Wednesday morning,Benzinga reports. DA Davidson currently has a neutral rating on the specialty retailer’s stock.

Medifast Stock Up 2.7 %

MED stock opened at $14.71 on Wednesday. The business’s fifty day simple moving average is $16.25 and its two-hundred day simple moving average is $17.97. Medifast has a twelve month low of $13.57 and a twelve month high of $42.68. The firm has a market cap of $160.96 million, a price-to-earnings ratio of 81.74 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 EPS for the quarter, topping the consensus estimate of ($0.16) by $0.26. The company had revenue of $119.00 million for the quarter, compared to the consensus estimate of $114.25 million. Medifast had a net margin of 0.35% and a return on equity of 10.64%. Research analysts expect that Medifast will post 0.51 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Wells Fargo & Company MN increased its stake in shares of Medifast by 23.5% during the fourth 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 period. Quarry LP increased its position in Medifast by 148.6% during 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 period. CWM LLC increased its position in Medifast by 70.9% during the 3rd quarter. CWM LLC now owns 8,006 shares of the specialty retailer’s stock valued at $153,000 after purchasing an additional 3,322 shares during the period. Public Employees Retirement System of Ohio increased 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 valued at $187,000 after purchasing an additional 8,992 shares during the period. Finally, SG Americas Securities LLC purchased a new position in Medifast during the 3rd quarter valued at about $206,000. 95.51% of the stock is currently owned by hedge funds and other 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.