Medifast Inc (NYSE:MED) had its price objective hoisted by investment analysts at DA Davidson from $65.00 to $74.00 in a research report issued to clients and investors on Friday, MarketBeat Ratings reports. The brokerage currently has a “buy” rating on the specialty retailer’s stock. DA Davidson’s price objective suggests a potential upside of 31.02% from the stock’s current price.

Separately, BidaskClub upgraded Medifast from a “strong sell” rating to a “sell” rating in a research report on Friday, August 11th.

Medifast (MED) traded up 3.03% during trading on Friday, hitting $56.48. 297,800 shares of the stock traded hands. Medifast has a 52-week low of $36.41 and a 52-week high of $56.73. The stock has a market cap of $673.81 million, a P/E ratio of 28.38 and a beta of 0.43. The stock has a 50 day moving average price of $51.35 and a 200-day moving average price of $45.24.

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

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A number of hedge funds have recently made changes to their positions in MED. Marshall Wace North America L.P. lifted its holdings in Medifast by 356.6% in the 2nd quarter. Marshall Wace North America L.P. now owns 103,812 shares of the specialty retailer’s stock valued at $4,256,000 after purchasing an additional 81,075 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Medifast by 197.0% in the 2nd quarter. Goldman Sachs Group Inc. now owns 89,606 shares of the specialty retailer’s stock valued at $3,716,000 after purchasing an additional 59,437 shares in the last quarter. LSV Asset Management lifted its holdings in Medifast by 235.2% in the 1st quarter. LSV Asset Management now owns 73,066 shares of the specialty retailer’s stock valued at $3,241,000 after purchasing an additional 51,266 shares in the last quarter. Bank of America Corp DE lifted its holdings in Medifast by 501.5% in the 1st quarter. Bank of America Corp DE now owns 51,353 shares of the specialty retailer’s stock valued at $2,278,000 after purchasing an additional 42,815 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in Medifast by 29.6% in the 2nd quarter. American Century Companies Inc. now owns 187,230 shares of the specialty retailer’s stock valued at $7,764,000 after purchasing an additional 42,710 shares in the last quarter. Institutional investors own 89.48% 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.

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