Medifast (NYSE:MED) Price Target Cut to $16.50 by Analysts at DA Davidson

Medifast (NYSE:MED) had its target price decreased 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 Stock Performance

NYSE:MED opened at $14.35 on Wednesday. The company has a current ratio of 3.11, a quick ratio of 2.55 and a debt-to-equity ratio of 0.06. The company’s 50-day moving average price is $16.49 and its 200-day moving average price is $18.02. Medifast has a twelve month low of $14.16 and a twelve month high of $49.90. The company has a market cap of $156.96 million, a P/E ratio of 21.74 and a beta of 1.14.

Medifast (NYSE:MED) last issued its earnings results on Tuesday, February 18th. The specialty retailer reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.26. Medifast had a net margin of 1.09% and a return on equity of 15.98%. The company had revenue of $119.00 million for the quarter, compared to the consensus estimate of $114.25 million. On average, sell-side analysts forecast that Medifast will post 1.68 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Medifast

Institutional investors have recently bought and sold shares of the company. Wells Fargo & Company MN raised its stake in Medifast by 23.5% during the fourth quarter. Wells Fargo & Company MN now owns 6,459 shares of the specialty retailer’s stock worth $114,000 after purchasing an additional 1,227 shares during the period. Quarry LP raised its stake in Medifast by 148.6% during the third quarter. Quarry LP now owns 6,629 shares of the specialty retailer’s stock worth $127,000 after purchasing an additional 3,962 shares during the period. CWM LLC increased its position in shares of Medifast by 70.9% during the third quarter. CWM LLC now owns 8,006 shares of the specialty retailer’s stock valued at $153,000 after acquiring an additional 3,322 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Medifast by 1,161.8% during the third quarter. Public Employees Retirement System of Ohio now owns 9,766 shares of the specialty retailer’s stock valued at $187,000 after acquiring an additional 8,992 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Medifast during the third quarter valued at about $206,000. 95.51% of the stock is owned by hedge funds and other institutional investors.

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.