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Medifast (NYSE:MED) announced its earnings results on Monday. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.08, American Banking News reports. The company had revenue of $86.50 million for the quarter, compared to the consensus estimate of $87.60 million. During the same quarter in the previous year, the company posted $0.43 earnings per share. The company’s revenue for the quarter was down 9.9% on a year-over-year basis. Medifast updated its Q2 guidance to $0.37-0.40 EPS and its FY14 guidance to $1.80-1.90 EPS.

A number of analysts have recently weighed in on MED shares. Analysts at Imperial Capital raised their price target on shares of Medifast from $30.00 to $36.00 in a research note on Wednesday, April 23rd. They now have an “outperform” rating on the stock. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $31.00.

Shares of Medifast (NYSE:MED) traded down 1.48% on Monday, hitting $31.24. 192,816 shares of the company’s stock traded hands. Medifast has a 1-year low of $23.02 and a 1-year high of $33.23. The stock has a 50-day moving average of $30.33 and a 200-day moving average of $27.08. The company has a market cap of $409.7 million and a P/E ratio of 18.33.

Medifast, Inc (NYSE:MED) is engaged in the production, distribution, and sale of weight management and disease management products and other consumable health and diet products.

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