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Medifast (NYSE:MED) EVP Jason L. Groves sold 3,250 shares of Medifast stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $31.75, for a total value of $103,187.50. Following the transaction, the executive vice president now directly owns 22,447 shares in the company, valued at approximately $712,692. The sale was disclosed in a document filed with the SEC, which is available at this link.

Several analysts have recently commented on the stock. Analysts at Canaccord Genuity cut their price target on shares of Medifast from $32.00 to $31.00 in a research note on Tuesday, May 6th. Separately, 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. Finally, analysts at Imperial Capital reiterated a “buy” rating on shares of Medifast in a research note on Thursday, March 13th. One investment analyst has rated the stock with a hold rating and two have issued a buy rating to the company. Medifast currently has an average rating of “Buy” and a consensus target price of $31.80.

Medifast (NYSE:MED) traded down 1.59% on Tuesday, hitting $31.54. 198,197 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 $30.81 and a 200-day moving average of $28.08. The company has a market cap of $414.2 million and a price-to-earnings ratio of 18.31.

Medifast (NYSE:MED) last announced its earnings results on Monday, May 5th. The company reported $0.45 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.37 by $0.08. 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 prior year, the company posted $0.43 earnings per share. The company’s quarterly revenue was down 9.9% on a year-over-year basis. On average, analysts predict that Medifast will post $1.83 earnings per share for the current fiscal year.

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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