Jefferies Financial Group Raises Medifast (NYSE:MED) Price Target to $130.00

Medifast (NYSE:MED) had its price target boosted by investment analysts at Jefferies Financial Group from $110.00 to $130.00 in a research report issued to clients and investors on Tuesday, The Fly reports. The brokerage currently has a “buy” rating on the specialty retailer’s stock. Jefferies Financial Group’s target price would indicate a potential upside of 15.42% from the stock’s current price.

Several other analysts also recently commented on MED. Zacks Investment Research raised Medifast from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Dougherty & Co downgraded Medifast from a “buy” rating to a “neutral” rating in a research note on Friday, November 8th. DA Davidson downgraded Medifast from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $250.00 to $74.00 in a research note on Friday, November 8th. Finally, ValuEngine downgraded Medifast from a “hold” rating to a “sell” rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. Medifast currently has an average rating of “Hold” and a consensus target price of $134.00.

Shares of Medifast stock opened at $112.63 on Tuesday. The company has a market capitalization of $1.27 billion, a PE ratio of 24.38 and a beta of 0.73. Medifast has a 12 month low of $66.50 and a 12 month high of $159.41. The stock’s fifty day simple moving average is $99.78 and its 200 day simple moving average is $103.27.

Medifast (NYSE:MED) last issued its quarterly earnings data on Thursday, November 7th. The specialty retailer reported $1.32 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.33 by ($0.01). The business had revenue of $190.10 million for the quarter, compared to analyst estimates of $194.70 million. Medifast had a return on equity of 62.93% and a net margin of 10.70%. The business’s quarterly revenue was up 36.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.14 EPS. Equities research analysts predict that Medifast will post 5.84 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in MED. Amundi Pioneer Asset Management Inc. raised its stake in shares of Medifast by 31.4% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 45,150 shares of the specialty retailer’s stock valued at $5,758,000 after purchasing an additional 10,792 shares during the period. Smith Asset Management Group LP increased its position in shares of Medifast by 102.3% in the second quarter. Smith Asset Management Group LP now owns 9,962 shares of the specialty retailer’s stock valued at $1,278,000 after acquiring an additional 5,038 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Medifast by 11.3% in the second quarter. Charles Schwab Investment Management Inc. now owns 121,247 shares of the specialty retailer’s stock valued at $15,556,000 after acquiring an additional 12,354 shares during the last quarter. Northern Trust Corp increased its position in shares of Medifast by 1.0% in the second quarter. Northern Trust Corp now owns 164,627 shares of the specialty retailer’s stock valued at $21,121,000 after acquiring an additional 1,610 shares during the last quarter. Finally, Parametric Portfolio Associates LLC increased its position in shares of Medifast by 7.2% in the second quarter. Parametric Portfolio Associates LLC now owns 49,394 shares of the specialty retailer’s stock valued at $6,337,000 after acquiring an additional 3,330 shares during the last quarter. 97.23% 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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