DA Davidson assumed coverage on shares of Medifast Inc (NYSE:MED) in a report released on Wednesday, Marketbeat.com reports. The brokerage set a “buy” rating on the specialty retailer’s stock.

Several other equities analysts have also weighed in on the stock. Sidoti lowered shares of Medifast from a “buy” rating to a “neutral” rating in a report on Tuesday, May 2nd. BidaskClub upgraded shares of Medifast from a “strong sell” rating to a “sell” rating in a report on Friday, August 11th.

Medifast (MED) traded up 0.07% during mid-day trading on Wednesday, reaching $55.82. 205,766 shares of the company were exchanged. The company has a 50 day moving average of $44.13 and a 200-day moving average of $43.73. Medifast has a 1-year low of $35.38 and a 1-year high of $56.41. The company has a market capitalization of $665.93 million, a price-to-earnings ratio of 28.05 and a beta of 0.48.

Medifast (NYSE:MED) last posted its earnings results on Tuesday, August 8th. The specialty retailer reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.10. The company had revenue of $75.70 million for the quarter, compared to analyst estimates of $71.96 million. Medifast had a net margin of 8.62% and a return on equity of 24.25%. Medifast’s revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.63 EPS. On average, equities research analysts forecast that Medifast will post $2.12 EPS for the current year.

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A number of institutional investors have recently bought and sold shares of the stock. Seizert Capital Partners LLC purchased a new position in Medifast during the first quarter valued at $3,716,000. Marshall Wace North America L.P. raised its position in Medifast by 356.6% in the second quarter. Marshall Wace North America L.P. now owns 103,812 shares of the specialty retailer’s stock valued at $4,256,000 after buying an additional 81,075 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Medifast by 197.0% in the second quarter. Goldman Sachs Group Inc. now owns 89,606 shares of the specialty retailer’s stock valued at $3,716,000 after buying an additional 59,437 shares during the last quarter. LSV Asset Management raised its position in Medifast by 235.2% in the first quarter. LSV Asset Management now owns 73,066 shares of the specialty retailer’s stock valued at $3,241,000 after buying an additional 51,266 shares during the last quarter. Finally, Bank of America Corp DE raised its position in Medifast by 501.5% in the first quarter. Bank of America Corp DE now owns 51,353 shares of the specialty retailer’s stock valued at $2,278,000 after buying an additional 42,815 shares during the last quarter. Institutional investors own 92.09% of the company’s stock.

About Medifast

Medifast, Inc is engaged in the production, distribution and sale of weight loss, weight management and healthy living products, and other consumable health and nutritional products. Medifast product lines include weight loss, weight management, and healthy living meal replacements, snacks, hydration products and vitamins.

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