Medifast (NYSE:MED) PT Set at $250.00 by DA Davidson

DA Davidson set a $250.00 price target on Medifast (NYSE:MED) in a research report report published on Friday morning, TipRanks reports. The firm currently has a buy rating on the specialty retailer’s stock.

MED has been the subject of several other reports. ValuEngine cut shares of Medifast from a hold rating to a sell rating in a report on Tuesday, July 9th. Zacks Investment Research upgraded shares of Medifast from a hold rating to a buy rating and set a $116.00 target price for the company in a report on Tuesday, August 6th. Finally, Jefferies Financial Group assumed coverage on shares of Medifast in a report on Thursday, July 25th. They issued a buy rating and a $130.00 target price for the company. One research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $178.00.

Shares of MED traded down $0.87 during midday trading on Friday, hitting $105.18. The stock had a trading volume of 247,062 shares, compared to its average volume of 289,752. Medifast has a fifty-two week low of $96.40 and a fifty-two week high of $253.90. The business has a 50-day simple moving average of $104.13 and a two-hundred day simple moving average of $125.99. The firm has a market cap of $1.25 billion, a P/E ratio of 22.77 and a beta of 0.70.



Medifast (NYSE:MED) last announced its earnings results on Thursday, August 1st. The specialty retailer reported $1.75 EPS for the quarter, topping the consensus estimate of $1.71 by $0.04. Medifast had a net margin of 11.22% and a return on equity of 61.06%. The company had revenue of $187.10 million during the quarter, compared to analysts’ expectations of $181.74 million. During the same period last year, the company posted $1.16 earnings per share. The business’s revenue for the quarter was up 59.5% on a year-over-year basis. On average, equities analysts anticipate that Medifast will post 6.86 earnings per share for the current year.

The business also recently declared a — dividend, which will be paid on Thursday, November 7th. Stockholders of record on Friday, September 27th will be given a $0.75 dividend. This represents a dividend yield of 2.8%. The ex-dividend date is Thursday, September 26th. Medifast’s dividend payout ratio (DPR) is 64.94%.

A number of institutional investors and hedge funds have recently modified their holdings of MED. Pictet Asset Management Ltd. bought a new position in Medifast during the first quarter valued at approximately $23,832,000. Nuveen Asset Management LLC raised its position in Medifast by 4,753.4% during the second quarter. Nuveen Asset Management LLC now owns 178,507 shares of the specialty retailer’s stock valued at $22,902,000 after acquiring an additional 174,829 shares in the last quarter. Hoplite Capital Management L.P. raised its position in Medifast by 55.9% during the second quarter. Hoplite Capital Management L.P. now owns 408,828 shares of the specialty retailer’s stock valued at $52,453,000 after acquiring an additional 146,568 shares in the last quarter. Federated Investors Inc. PA raised its position in Medifast by 125.4% during the first quarter. Federated Investors Inc. PA now owns 135,682 shares of the specialty retailer’s stock valued at $17,306,000 after acquiring an additional 75,496 shares in the last quarter. Finally, Elk Creek Partners LLC bought a new position in Medifast during the first quarter valued at approximately $9,294,000. 97.27% of the stock is currently owned by hedge funds and other institutional investors.

About Medifast

Medifast, Inc, through its subsidiaries, manufactures and distributes weight loss, weight management, healthy living products, and other consumable health and nutritional products. It offers bars, bites, pretzels, puffs, oatmeal and cereal crunch products, drinks, hearty choices, pancakes, puddings, soft serves, shakes, smoothies, soft bakes, and soups under the Medifast, OPTAVIA, Thrive by Medifast, Optimal Health by OPTAVIA, Flavors of Home, and Essential 1 brands.

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