Medifast (NYSE:MED) Lowered to Sell at ValuEngine

Medifast (NYSE:MED) was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating in a note issued to investors on Friday, ValuEngine reports.

Other analysts also recently issued reports about the company. DA Davidson downgraded Medifast from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $250.00 to $74.00 in a report on Friday. Zacks Investment Research downgraded Medifast from a “buy” rating to a “hold” rating in a report on Thursday, October 3rd. Dougherty & Co cut shares of Medifast from a “buy” rating to a “neutral” rating in a research report on Friday. Finally, Jefferies Financial Group assumed coverage on shares of Medifast in a research report on Thursday, July 25th. They set a “buy” rating and a $130.00 price objective on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. Medifast has a consensus rating of “Hold” and a consensus target price of $134.00.

Medifast stock traded down $27.64 during trading hours on Friday, reaching $74.36. 3,379,003 shares of the company’s stock were exchanged, compared to its average volume of 294,247. The firm’s 50 day simple moving average is $103.69 and its 200 day simple moving average is $117.92. Medifast has a twelve month low of $66.50 and a twelve month high of $165.70. The firm has a market capitalization of $1.33 billion, a PE ratio of 16.10 and a beta of 0.71.

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

Several hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC bought a new position in shares of Medifast during the 3rd quarter worth about $160,000. SG Americas Securities LLC boosted its position in shares of Medifast by 6.6% during the 3rd quarter. SG Americas Securities LLC now owns 4,305 shares of the specialty retailer’s stock worth $446,000 after purchasing an additional 266 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Medifast by 58.2% during the 3rd quarter. First Trust Advisors LP now owns 16,046 shares of the specialty retailer’s stock worth $1,663,000 after purchasing an additional 5,903 shares in the last quarter. Palouse Capital Management Inc. bought a new position in shares of Medifast during the 3rd quarter worth about $320,000. Finally, MBM Wealth Consultants LLC boosted its position in shares of Medifast by 10.5% during the 3rd quarter. MBM Wealth Consultants LLC now owns 2,675 shares of the specialty retailer’s stock worth $277,000 after purchasing an additional 254 shares in the last quarter. 97.24% of the stock is currently 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.

Further Reading: Float

To view ValuEngine’s full report, visit ValuEngine’s official website.

Receive News & Ratings for Medifast Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Medifast and related companies with MarketBeat.com's FREE daily email newsletter.