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

Medifast (NYSE:MED - Get Free Report) had its price target lowered by analysts at DA Davidson from $40.00 to $25.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a "neutral" rating on the specialty retailer's stock. DA Davidson's target price indicates a potential downside of 9.26% from the company's current price.

Separately, TheStreet lowered Medifast from a "c" rating to a "d+" rating in a research note on Wednesday, February 21st.

Medifast Stock Performance

NYSE:MED traded down $7.96 during mid-day trading on Tuesday, hitting $27.55. 1,870,956 shares of the stock were exchanged, compared to its average volume of 398,100. The stock has a market capitalization of $300.30 million, a price-to-earnings ratio of 3.03 and a beta of 1.14. The firm's 50-day simple moving average is $36.23 and its 200 day simple moving average is $54.44. Medifast has a fifty-two week low of $26.02 and a fifty-two week high of $109.52.

Medifast (NYSE:MED - Get Free Report) last released its quarterly earnings results on Monday, April 29th. The specialty retailer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.12). The firm had revenue of $174.74 million for the quarter, compared to analyst estimates of $168.90 million. Medifast had a return on equity of 56.06% and a net margin of 9.27%. The business's revenue for the quarter was down 49.9% on a year-over-year basis. During the same period in the previous year, the business posted $3.67 earnings per share. On average, analysts predict that Medifast will post 1.91 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Scott Schlackman sold 4,053 shares of the business's stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $39.44, for a total value of $159,850.32. Following the transaction, the director now directly owns 7,785 shares of the company's stock, valued at approximately $307,040.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.06% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in MED. CWM LLC raised its stake in Medifast by 223.8% during the 3rd quarter. CWM LLC now owns 531 shares of the specialty retailer's stock worth $40,000 after buying an additional 367 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Medifast by 53.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,628 shares of the specialty retailer's stock worth $177,000 after purchasing an additional 911 shares in the last quarter. Olympiad Research LP bought a new stake in Medifast during the 3rd quarter worth approximately $208,000. Triumph Capital Management bought a new stake in Medifast during the 4th quarter worth approximately $213,000. Finally, Vest Financial LLC bought a new stake in Medifast during the 4th quarter worth approximately $232,000. 95.51% of the stock is owned by institutional investors and hedge funds.

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.