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Canaccord Genuity increased their target price on shares of Medifast (NYSE:MED) from $31.00 to $32.00 in a research note issued on Thursday. The firm currently has a “hold” rating on the stock. Canaccord Genuity’s price objective would indicate a potential downside of 0.81% from the company’s current price.

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. Two analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $32.00.

Shares of Medifast (NYSE:MED) traded up 0.25% on Thursday, hitting $32.34. The stock had a trading volume of 16,557 shares. 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 $30.84 and a 200-day moving average of $28.17. The company has a market cap of $424.7 million and a P/E ratio of 18.43.

Medifast (NYSE:MED) last posted its quarterly 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. Analysts expect that Medifast will post $1.83 EPS for the current fiscal year.

In other Medifast news, EVP Jason L. Groves sold 3,250 shares of the company’s stock on the open market in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $31.75, for a total value of $103,187.50. The transaction was disclosed in a document filed with the SEC, which is available at this link.

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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