Medifast (NYSE:MED) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

Several other research firms have also commented on MED. BidaskClub raised Medifast from a “sell” rating to a “hold” rating in a research report on Saturday, August 19th. DA Davidson started coverage on Medifast in a research report on Wednesday, August 16th. They issued a “buy” rating on the stock. Sidoti reissued a “neutral” rating and issued a $55.00 price objective (up from $49.00) on shares of Medifast in a research report on Thursday, September 21st. Finally, Zacks Investment Research upgraded Medifast from a “hold” rating to a “buy” rating and set a $79.00 target price for the company in a research note on Friday, November 10th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $69.33.

Medifast (NYSE:MED) opened at $66.61 on Friday. Medifast has a 52-week low of $38.53 and a 52-week high of $71.73. The company has a market capitalization of $794.92, a PE ratio of 32.81, a price-to-earnings-growth ratio of 2.05 and a beta of 0.51.

Medifast (NYSE:MED) last released its quarterly earnings data on Tuesday, November 7th. The specialty retailer reported $0.55 EPS for the quarter, beating the consensus estimate of $0.51 by $0.04. Medifast had a return on equity of 24.07% and a net margin of 8.58%. The company had revenue of $77.20 million for the quarter, compared to analyst estimates of $74.94 million. During the same period last year, the company posted $0.51 earnings per share. The firm’s revenue was up 12.5% compared to the same quarter last year. analysts anticipate that Medifast will post 2.17 EPS for the current fiscal year.

In other news, Director Glenn W. Welling sold 250,000 shares of the firm’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $65.00, for a total transaction of $16,250,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 406,500 shares of company stock valued at $16,278,170 over the last 90 days. Insiders own 6.47% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio grew its stake in shares of Medifast by 248.2% during the third quarter. Public Employees Retirement System of Ohio now owns 2,354 shares of the specialty retailer’s stock valued at $140,000 after acquiring an additional 1,678 shares in the last quarter. California Public Employees Retirement System grew its stake in shares of Medifast by 3.7% during the third quarter. California Public Employees Retirement System now owns 69,135 shares of the specialty retailer’s stock valued at $4,105,000 after acquiring an additional 2,435 shares in the last quarter. OxFORD Asset Management LLP grew its stake in shares of Medifast by 16.7% during the third quarter. OxFORD Asset Management LLP now owns 86,314 shares of the specialty retailer’s stock valued at $5,109,000 after acquiring an additional 12,378 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Medifast by 1.5% during the third quarter. Dimensional Fund Advisors LP now owns 669,999 shares of the specialty retailer’s stock valued at $39,778,000 after acquiring an additional 10,103 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its stake in shares of Medifast by 5.3% during the third quarter. Schwab Charles Investment Management Inc. now owns 45,252 shares of the specialty retailer’s stock valued at $2,687,000 after acquiring an additional 2,262 shares in the last quarter. Institutional investors own 86.91% of the company’s stock.

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Medifast Company Profile

Medifast, Inc produces, distributes and sells weight loss, weight management, and healthy living products, and other consumable health and nutritional products. The Company’s product lines include weight loss, weight management, and healthy living meal replacements, snacks, hydration products, and vitamins.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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