Medifast Price Target Cut to $32.00 by Analysts at Wedbush (MED)
Equities research analysts at Wedbush dropped their price objective on shares of Medifast (NYSE:MED) from $37.00 to $32.00 in a research note issued to investors on Friday. Wedbush’s price objective would indicate a potential upside of 22.37% from the stock’s previous close.
A number of other analysts have also recently weighed in on MED. Analysts at Imperial Capital cut their price target on shares of Medifast from $36.00 to $34.00 in a research note on Friday. They now have an “outperform” rating on the stock. Analysts at Canaccord Genuity raised their price target on shares of Medifast from $31.00 to $32.00 in a research note on Thursday, June 12th. They now have a “hold” rating on the stock.
Medifast (NYSE:MED) traded down 9.83% on Friday, hitting $26.15. The stock had a trading volume of 726,641 shares. Medifast has a 52-week low of $23.02 and a 52-week high of $34.40. The stock has a 50-day moving average of $29.96 and a 200-day moving average of $29.44. The company has a market cap of $343.4 million and a price-to-earnings ratio of 16.57. Medifast also was the target of some unusual options trading on Friday. Investors bought 511 put options on the stock. This is an increase of 245% compared to the typical volume of 148 put options.
Medifast (NYSE:MED) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.44 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.39 by $0.05. The company had revenue of $80.88 million for the quarter, compared to the consensus estimate of $87.30 million. During the same quarter in the prior year, the company posted $0.51 earnings per share. The company’s quarterly revenue was down 16.7% on a year-over-year basis. Analysts expect that Medifast will post $1.83 EPS 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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