Equities research analysts at DA Davidson began coverage on shares of Medifast Inc (NYSE:MED) in a research note issued on Wednesday, The Fly reports. The firm set a “buy” rating on the specialty retailer’s stock.

A number of other brokerages also recently issued reports on MED. BidaskClub raised shares of Medifast from a “strong sell” rating to a “sell” rating in a research report on Friday, August 11th. Sidoti cut shares of Medifast from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 2nd.

Shares of Medifast (NYSE MED) traded down 0.77% during midday trading on Wednesday, reaching $51.63. 113,806 shares of the company’s stock traded hands. The firm has a market cap of $615.95 million, a PE ratio of 25.94 and a beta of 0.48. The stock has a 50-day moving average price of $43.02 and a 200 day moving average price of $43.49. Medifast has a 12 month low of $35.38 and a 12 month high of $52.37.

Medifast (NYSE:MED) last issued its quarterly earnings data on Tuesday, August 8th. The specialty retailer reported $0.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.10. Medifast had a net margin of 8.62% and a return on equity of 24.25%. The business had revenue of $75.70 million during the quarter, compared to the consensus estimate of $71.96 million. During the same period in the prior year, the firm posted $0.63 EPS. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. Equities research analysts predict that Medifast will post $2.12 earnings per share for the current year.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dean Capital Management boosted its position in Medifast by 40.1% in the second quarter. Dean Capital Management now owns 66,350 shares of the specialty retailer’s stock worth $2,751,000 after buying an additional 18,995 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Medifast by 1.5% in the second quarter. The Manufacturers Life Insurance Company now owns 8,352 shares of the specialty retailer’s stock worth $346,000 after buying an additional 123 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Medifast by 0.7% in the second quarter. Arrowstreet Capital Limited Partnership now owns 161,935 shares of the specialty retailer’s stock worth $6,715,000 after buying an additional 1,164 shares during the last quarter. State Street Corp boosted its position in Medifast by 3.5% in the second quarter. State Street Corp now owns 322,325 shares of the specialty retailer’s stock worth $13,367,000 after buying an additional 10,854 shares during the last quarter. Finally, AHL Partners LLP bought a new position in Medifast during the second quarter worth $241,000. Hedge funds and other institutional investors own 92.09% of the company’s stock.

Medifast Company Profile

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.

The Fly

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