Medifast (NYSE:MED) Price Target Lowered to $25.00 at DA Davidson

Medifast (NYSE:MED) had its target price reduced by DA Davidson from $40.00 to $25.00 in a report published on Tuesday, Benzinga reports. They currently have a neutral rating on the specialty retailer’s stock. DA Davidson also issued estimates for Medifast’s FY2024 earnings at $0.75 EPS and FY2025 earnings at $2.25 EPS.

Separately, TheStreet cut shares of Medifast from a c rating to a d+ rating in a report on Wednesday, February 21st.

Medifast Price Performance

Shares of NYSE MED opened at $26.69 on Tuesday. Medifast has a 1 year low of $25.36 and a 1 year high of $109.52. The firm has a 50-day simple moving average of $35.24 and a two-hundred day simple moving average of $53.74. The company has a market cap of $291.99 million, a P/E ratio of 4.30 and a beta of 1.19.

Medifast (NYSE:MED) last issued its quarterly earnings results on Monday, April 29th. The specialty retailer reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.12). The business had revenue of $174.74 million for the quarter, compared to the consensus estimate of $168.90 million. Medifast had a return on equity of 36.64% and a net margin of 7.55%. Medifast’s revenue was down 49.9% on a year-over-year basis. During the same period in the prior year, the business posted $3.67 earnings per share. As a group, equities research analysts expect that Medifast will post 1.35 EPS for the current year.

Insider Buying and Selling

In other news, Director Scott Schlackman sold 4,053 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $39.44, for a total value of $159,850.32. Following the completion of the sale, the director now owns 7,785 shares of the company’s stock, valued at approximately $307,040.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.06% of the stock is owned by insiders.

Institutional Investors Weigh In On Medifast

Several institutional investors have recently added to or reduced their stakes in the business. Pacer Advisors Inc. increased its stake in Medifast by 62.9% during the 4th quarter. Pacer Advisors Inc. now owns 522,732 shares of the specialty retailer’s stock valued at $35,138,000 after purchasing an additional 201,752 shares in the last quarter. First Trust Advisors LP lifted its holdings in Medifast by 67.3% in the fourth quarter. First Trust Advisors LP now owns 397,443 shares of the specialty retailer’s stock valued at $26,716,000 after acquiring an additional 159,817 shares during the period. Vanguard Group Inc. boosted its holdings in Medifast by 7.2% during the fourth quarter. Vanguard Group Inc. now owns 1,686,957 shares of the specialty retailer’s stock worth $113,397,000 after buying an additional 113,734 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in Medifast by 110.1% during the third quarter. Jacobs Levy Equity Management Inc. now owns 129,650 shares of the specialty retailer’s stock worth $9,704,000 after buying an additional 67,951 shares in the last quarter. Finally, American Century Companies Inc. grew its position in Medifast by 327.3% during the third quarter. American Century Companies Inc. now owns 64,761 shares of the specialty retailer’s stock valued at $4,847,000 after buying an additional 49,605 shares during the period. Institutional investors and hedge funds own 95.51% of the company’s stock.

About Medifast

Medifast, Inc, through its subsidiaries, engages in the manufacture and sale of weight loss, weight management, and healthy living products in the United States and the Asia-Pacific. It offers bars, puffs, cereal, crunchers, drinks, hearty choices, oatmeal, pancakes, pudding, soft serve, shakes, smoothies, soft bakes, and soups under the OPTAVIA, OPTAVIA ACTIVE, and Optimal Health brand names.