Medifast (NYSE:MED – Get Rating) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Friday.
Separately, DA Davidson lifted their price objective on Medifast from $341.00 to $352.00 and gave the company a “buy” rating in a research note on Thursday, June 2nd.
Medifast Stock Down 2.0 %
NYSE MED traded down $3.50 during trading on Friday, hitting $172.53. The stock had a trading volume of 128,432 shares, compared to its average volume of 128,194. The company has a market capitalization of $1.99 billion, a PE ratio of 12.31 and a beta of 1.19. The firm has a 50 day moving average price of $176.93 and a 200 day moving average price of $182.54. Medifast has a twelve month low of $154.67 and a twelve month high of $295.38.
Medifast (NYSE:MED – Get Rating) last released its earnings results on Monday, May 2nd. The specialty retailer reported $3.59 earnings per share for the quarter, beating the consensus estimate of $3.56 by $0.03. The company had revenue of $417.60 million during the quarter, compared to the consensus estimate of $415.20 million. Medifast had a return on equity of 81.42% and a net margin of 10.28%. On average, sell-side analysts anticipate that Medifast will post 15.74 earnings per share for the current year.
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In related news, CEO Daniel R. Chard acquired 431 shares of the firm’s stock in a transaction dated Thursday, May 5th. The stock was acquired at an average price of $183.25 per share, for a total transaction of $78,980.75. Following the purchase, the chief executive officer now owns 108,598 shares of the company’s stock, valued at approximately $19,900,583.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Medifast news, CEO Daniel R. Chard bought 431 shares of the firm’s stock in a transaction that occurred on Thursday, May 5th. The stock was purchased at an average price of $183.25 per share, for a total transaction of $78,980.75. Following the completion of the purchase, the chief executive officer now directly owns 108,598 shares in the company, valued at $19,900,583.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jeffrey J. Brown bought 315 shares of the firm’s stock in a transaction that occurred on Thursday, May 5th. The shares were acquired at an average price of $183.25 per share, with a total value of $57,723.75. Following the purchase, the director now owns 35,539 shares of the company’s stock, valued at $6,512,521.75. The disclosure for this purchase can be found here. Company insiders own 2.40% of the company’s stock.
Institutional Investors Weigh In On Medifast
Several institutional investors have recently added to or reduced their stakes in MED. Gladius Capital Management LP increased its position in Medifast by 18.4% during the first quarter. Gladius Capital Management LP now owns 541 shares of the specialty retailer’s stock worth $93,000 after buying an additional 84 shares during the period. Captrust Financial Advisors increased its position in Medifast by 114.6% during the first quarter. Captrust Financial Advisors now owns 648 shares of the specialty retailer’s stock worth $112,000 after buying an additional 346 shares during the period. Islay Capital Management LLC acquired a new position in Medifast during the fourth quarter worth approximately $133,000. PEAK6 Investments LLC increased its position in Medifast by 111.9% during the fourth quarter. PEAK6 Investments LLC now owns 959 shares of the specialty retailer’s stock worth $201,000 after buying an additional 9,015 shares during the period. Finally, PNC Financial Services Group Inc. increased its position in Medifast by 58.3% during the first quarter. PNC Financial Services Group Inc. now owns 1,271 shares of the specialty retailer’s stock worth $217,000 after buying an additional 468 shares during the period. Hedge funds and other institutional investors own 84.78% of the company’s stock.
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 in the United States and the Asia-Pacific. The company offers bars, bites, pretzels, puffs, cereal crunch, drinks, hearty choices, oatmeal, pancakes, pudding, soft serves, shakes, smoothies, soft bakes, and soups under the OPTAVIA, Optimal Health by Take Shape for Life, and Flavors of Home brands.
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