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Medifast (NYSE:MED) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a report issued on Tuesday. They currently have a $25.50 price objective on the stock. Zacks‘s price target would indicate a potential downside of 5.13% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Analysts at Canaccord Genuity cut their price target on shares of Medifast from $32.00 to $29.00 in a research note on Friday. Separately, analysts at Wedbush cut their price target on shares of Medifast from $37.00 to $32.00 in a research note on Friday. Finally, 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. One research analyst has rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company’s stock. Medifast has an average rating of “Hold” and an average target price of $29.10.

Medifast (NYSE:MED) traded down 1.92% during mid-day trading on Tuesday, hitting $26.365. 122,078 shares of the company’s stock traded hands. Medifast has a one year low of $23.02 and a one year high of $34.40. The stock has a 50-day moving average of $29.77 and a 200-day moving average of $29.45. The company has a market cap of $335.3 million and a price-to-earnings ratio of 15.93.

Medifast (NYSE:MED) last issued its quarterly earnings data 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 $1.75 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.

To view Zacks’ full report, visit Zacks’ official website.

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