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.
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
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