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

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

Medifast Stock Down 11.1 %

Medifast stock traded down $1.78 during midday trading on Wednesday, hitting $14.35. 682,403 shares of the company’s stock were exchanged, compared to its average volume of 226,522. Medifast has a 12 month low of $14.16 and a 12 month high of $49.90. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.55 and a current ratio of 3.11. The company has a market cap of $156.96 million, a PE ratio of 21.74 and a beta of 1.14. The firm has a 50-day moving average of $16.49 and a two-hundred day moving average of $18.02.

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

Institutional Trading of Medifast

Several hedge funds have recently modified their holdings of MED. SG Americas Securities LLC bought a new position in shares of Medifast during the 3rd quarter worth approximately $206,000. CWM LLC grew its holdings in Medifast by 70.9% in the third quarter. CWM LLC now owns 8,006 shares of the specialty retailer’s stock worth $153,000 after purchasing an additional 3,322 shares during the last quarter. FMR LLC increased its position in shares of Medifast by 44.6% during the third quarter. FMR LLC now owns 30,786 shares of the specialty retailer’s stock worth $589,000 after purchasing an additional 9,499 shares in the last quarter. Benjamin Edwards Inc. purchased a new stake in shares of Medifast during the 3rd quarter valued at $256,000. Finally, Centiva Capital LP boosted its position in shares of Medifast by 6.3% in 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 in the last quarter. 95.51% of the stock is owned by hedge funds and other institutional investors.

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.