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

Medifast (NYSE:MED) had its target price trimmed by DA Davidson from $40.00 to $25.00 in a research note published on Tuesday morning, Benzinga reports. The firm currently has 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 Medifast from a c rating to a d+ rating in a research note on Wednesday, February 21st.

Medifast Stock Performance

Shares of Medifast stock traded up $0.76 on Tuesday, hitting $26.69. The company had a trading volume of 459,282 shares, compared to its average volume of 408,552. The stock has a 50 day moving average of $35.24 and a 200-day moving average of $53.74. Medifast has a 1 year low of $25.36 and a 1 year high of $109.52. The stock has a market capitalization of $291.99 million, a price-to-earnings ratio of 4.30 and a beta of 1.19.

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

Insider Activity at Medifast

In other Medifast news, Director Scott Schlackman sold 4,053 shares of the business’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 sale, the director now directly owns 7,785 shares in the company, valued at $307,040.40. The sale was disclosed in a filing with the SEC, which is accessible through this link. 2.06% of the stock is owned by company insiders.

Hedge Funds Weigh In On Medifast

A number of large investors have recently made changes to their positions in MED. Prairiewood Capital LLC boosted its stake in Medifast by 26.7% in the 1st quarter. Prairiewood Capital LLC now owns 7,215 shares of the specialty retailer’s stock worth $276,000 after purchasing an additional 1,520 shares during the period. Denali Advisors LLC lifted its holdings in shares of Medifast by 21.1% in the first quarter. Denali Advisors LLC now owns 26,413 shares of the specialty retailer’s stock worth $1,012,000 after buying an additional 4,600 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Medifast by 249.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 42,893 shares of the specialty retailer’s stock valued at $1,644,000 after acquiring an additional 30,610 shares during the period. Aviance Capital Partners LLC grew its stake in Medifast by 21.0% during the first quarter. Aviance Capital Partners LLC now owns 8,676 shares of the specialty retailer’s stock valued at $332,000 after acquiring an additional 1,506 shares in the last quarter. Finally, DGS Capital Management LLC bought a new stake in Medifast during the 1st quarter worth approximately $401,000. 95.51% of the stock is owned by institutional investors.

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.