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

Medifast (NYSE:MED) had its price objective reduced by DA Davidson from $17.00 to $16.50 in a research note released on Wednesday morning,Benzinga reports. DA Davidson currently has a neutral rating on the specialty retailer’s stock.

Medifast Price Performance

Shares of MED opened at $14.35 on Wednesday. Medifast has a 1-year low of $14.16 and a 1-year high of $49.90. The stock 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 simple moving average of $16.49 and a two-hundred day simple moving average of $18.02. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.11 and a quick ratio of 2.55.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Exchange Traded Concepts LLC grew its holdings in shares of Medifast by 4.1% in the fourth quarter. Exchange Traded Concepts LLC now owns 17,106 shares of the specialty retailer’s stock valued at $301,000 after purchasing an additional 674 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Medifast by 0.9% in the fourth quarter. Northern Trust Corp now owns 101,775 shares of the specialty retailer’s stock valued at $1,793,000 after purchasing an additional 871 shares in the last quarter. Centiva Capital LP grew its holdings in shares of Medifast by 6.3% in the third quarter. Centiva Capital LP now owns 15,238 shares of the specialty retailer’s stock valued at $292,000 after purchasing an additional 898 shares in the last quarter. Wells Fargo & Company MN lifted its stake in Medifast by 23.5% in the fourth quarter. Wells Fargo & Company MN now owns 6,459 shares of the specialty retailer’s stock worth $114,000 after acquiring an additional 1,227 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Medifast by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 245,929 shares of the specialty retailer’s stock worth $4,335,000 after acquiring an additional 1,447 shares during the last quarter. Institutional investors and hedge funds own 95.51% of the company’s stock.

Medifast Company Profile

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.