Medifast (NYSE:MED) Given Underperform Rating at DA Davidson

DA Davidson reaffirmed their underperform rating on shares of Medifast (NYSE:MED) in a report issued on Monday, Benzinga reports. They currently have a $17.50 price target on the specialty retailer’s stock.

Medifast Trading Up 3.7 %

Medifast stock opened at $19.53 on Monday. The company’s 50-day moving average price is $21.05 and its two-hundred day moving average price is $34.18. The stock has a market cap of $213.66 million, a price-to-earnings ratio of 3.15 and a beta of 1.15. Medifast has a 52 week low of $17.86 and a 52 week high of $109.52.

Medifast (NYSE:MED) last announced its 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). Medifast had a net margin of 7.55% and a return on equity of 36.64%. The firm had revenue of $174.74 million for the quarter, compared to the consensus estimate of $168.90 million. During the same period in the prior year, the business earned $3.67 EPS. The company’s quarterly revenue was down 49.9% compared to the same quarter last year. Research analysts expect that Medifast will post 0.94 earnings per share for the current fiscal year.

Institutional Trading of Medifast

A number of hedge funds have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Medifast by 53.1% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,628 shares of the specialty retailer’s stock valued at $177,000 after acquiring an additional 911 shares during the last quarter. Swedbank AB acquired a new position in Medifast during the first quarter worth $115,000. Triumph Capital Management bought a new position in Medifast during the fourth quarter valued at about $213,000. Aigen Investment Management LP lifted its position in shares of Medifast by 5.7% in the fourth quarter. Aigen Investment Management LP now owns 3,700 shares of the specialty retailer’s stock worth $249,000 after buying an additional 199 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new stake in shares of Medifast during the 4th quarter worth about $295,000. Hedge funds and other institutional investors 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.