Medifast (MED) Price Target Raised to $108.00

Medifast (NYSE:MED) had its price objective boosted by stock analysts at DA Davidson to $108.00 in a report issued on Thursday, The Fly reports. The brokerage presently has a “buy” rating on the specialty retailer’s stock. DA Davidson’s target price indicates a potential upside of 21.40% from the stock’s previous close. DA Davidson also issued estimates for Medifast’s Q1 2018 earnings at $0.86 EPS, Q2 2018 earnings at $0.92 EPS, Q3 2018 earnings at $0.77 EPS, Q4 2018 earnings at $0.70 EPS, FY2018 earnings at $3.25 EPS and FY2019 earnings at $4.00 EPS.

MED has been the subject of a number of other reports. Zacks Investment Research upgraded Medifast from a “hold” rating to a “buy” rating and set a $79.00 target price for the company in a research note on Friday, November 10th. ValuEngine downgraded Medifast from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, Sidoti upgraded Medifast from a “neutral” rating to a “buy” rating in a research note on Wednesday. One analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $86.67.

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Medifast (NYSE:MED) opened at $88.96 on Thursday. Medifast has a 52 week low of $40.00 and a 52 week high of $92.91. The company has a market capitalization of $1,060.00, a P/E ratio of 43.61, a price-to-earnings-growth ratio of 1.84 and a beta of 0.61.

Medifast (NYSE:MED) last issued its earnings results on Tuesday, March 6th. The specialty retailer reported $0.60 EPS for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.12. Medifast had a return on equity of 26.39% and a net margin of 9.19%. The company had revenue of $78.01 million during the quarter, compared to the consensus estimate of $73.48 million. During the same period in the previous year, the firm posted $0.34 earnings per share. Medifast’s quarterly revenue was up 24.9% compared to the same quarter last year. research analysts forecast that Medifast will post 3.2 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Medifast by 2.2% during the second quarter. Vanguard Group Inc. now owns 657,254 shares of the specialty retailer’s stock worth $27,256,000 after buying an additional 13,982 shares during the period. BNP Paribas Arbitrage SA boosted its position in shares of Medifast by 36.2% during the third quarter. BNP Paribas Arbitrage SA now owns 5,706 shares of the specialty retailer’s stock worth $339,000 after buying an additional 1,517 shares during the period. Cigna Investments Inc. New acquired a new position in shares of Medifast during the fourth quarter worth approximately $207,000. California Public Employees Retirement System boosted its position in shares of Medifast by 3.7% during the third quarter. California Public Employees Retirement System now owns 69,135 shares of the specialty retailer’s stock worth $4,105,000 after buying an additional 2,435 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Medifast by 217.1% during the third quarter. JPMorgan Chase & Co. now owns 158,813 shares of the specialty retailer’s stock worth $9,468,000 after buying an additional 108,736 shares during the period. Institutional investors and hedge funds own 88.14% of the company’s stock.

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Medifast Company Profile

Medifast, Inc produces, distributes and sells weight loss, weight management, and healthy living products, and other consumable health and nutritional products. The Company’s product lines include weight loss, weight management, and healthy living meal replacements, snacks, hydration products, and vitamins.

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