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Medifast (NYSE:MED) Rating Lowered to Sell at ValuEngine

Medifast (NYSE:MED) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a report issued on Friday, November 8th, ValuEngine reports.

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Other equities analysts also recently issued reports about the stock. DA Davidson downgraded shares of Medifast from a “buy” rating to a “neutral” rating and decreased their price target for the company from $250.00 to $74.00 in a research note on Friday, November 8th. Dougherty & Co cut shares of Medifast from a “buy” rating to a “neutral” rating in a research report on Friday, November 8th. Jefferies Financial Group started coverage on shares of Medifast in a research report on Thursday, July 25th. They set a “buy” rating and a $130.00 price objective for the company. Finally, Zacks Investment Research cut shares of Medifast from a “buy” rating to a “hold” rating in a research report on Thursday, October 3rd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $134.00.

MED traded up $4.33 during trading on Friday, reaching $87.90. 13,014 shares of the stock were exchanged, compared to its average volume of 694,397. The stock has a market cap of $1.02 billion, a P/E ratio of 18.97 and a beta of 0.71. Medifast has a twelve month low of $66.50 and a twelve month high of $159.41. The stock’s 50 day moving average price is $97.37 and its two-hundred day moving average price is $113.28.

Medifast (NYSE:MED) last released its quarterly earnings data on Thursday, November 7th. The specialty retailer reported $1.32 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.33 by ($0.01). Medifast had a net margin of 10.70% and a return on equity of 62.93%. The company had revenue of $190.10 million during the quarter, compared to analyst estimates of $194.70 million. During the same quarter in the prior year, the firm earned $1.14 earnings per share. Medifast’s revenue for the quarter was up 36.5% on a year-over-year basis. On average, equities analysts anticipate that Medifast will post 5.84 EPS for the current year.

Several hedge funds have recently bought and sold shares of the company. Sandy Spring Bank bought a new position in Medifast in the 2nd quarter valued at approximately $26,000. FinTrust Capital Advisors LLC bought a new position in Medifast in the 3rd quarter valued at approximately $30,000. Financial Gravity Wealth Inc. raised its holdings in Medifast by 853.8% in the 2nd quarter. Financial Gravity Wealth Inc. now owns 248 shares of the specialty retailer’s stock valued at $32,000 after buying an additional 222 shares during the last quarter. Advisors Preferred LLC bought a new position in Medifast in the 2nd quarter valued at approximately $49,000. Finally, Anderson Fisher LLC bought a new position in Medifast in the 2nd quarter valued at approximately $80,000. 98.06% of the stock is owned by hedge funds and other 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.

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

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