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Medifast (NYSE:MED) EVP Jeannette M. Mills sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $28.03, for a total value of $84,090.00. Following the completion of the sale, the executive vice president now directly owns 20,116 shares in the company, valued at approximately $563,851. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

MED has been the subject of a number of recent research reports. Analysts at Zacks downgraded shares of Medifast from a “neutral” rating to an “underperform” rating in a research note on Tuesday, August 12th. They now have a $25.50 price target on the stock. Separately, analysts at Canaccord Genuity cut their price target on shares of Medifast from $32.00 to $29.00 in a research note on Friday, August 8th. Finally, analysts at Wedbush cut their price target on shares of Medifast from $37.00 to $32.00 in a research note on Friday, August 8th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $29.10.

Medifast (NYSE:MED) opened at 28.81 on Friday. 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 $28.95 and a 200-day moving average of $29.47. The company has a market cap of $367.0 million and a price-to-earnings ratio of 16.81.

Medifast (NYSE:MED) last released its earnings data on Thursday, August 7th. The company reported $0.44 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.51 earnings per share. Medifast’s revenue was down 16.7% compared to the same quarter last year. 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.

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