Medifast Inc (MED) Raised to “Sell” at BidaskClub

Medifast Inc (NYSE:MED) was upgraded by stock analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a report released on Friday.

Separately, Sidoti downgraded Medifast from a “buy” rating to a “neutral” rating in a report on Tuesday, May 2nd.

Medifast (NYSE MED) traded down 0.54% during midday trading on Friday, hitting $49.48. The stock had a trading volume of 35,597 shares. The firm has a market cap of $590.20 million, a price-to-earnings ratio of 24.86 and a beta of 0.48. The firm has a 50 day moving average of $42.20 and a 200 day moving average of $43.26. Medifast has a 52 week low of $35.38 and a 52 week high of $51.04.

Medifast (NYSE:MED) last released its quarterly earnings data on Tuesday, August 8th. The specialty retailer reported $0.63 EPS for the quarter, beating the consensus estimate of $0.53 by $0.10. Medifast had a return on equity of 24.25% and a net margin of 8.62%. The company had revenue of $75.70 million for the quarter, compared to analysts’ expectations of $71.96 million. During the same period last year, the firm posted $0.63 earnings per share. Medifast’s revenue was up 6.5% compared to the same quarter last year. Equities research analysts predict that Medifast will post $2.12 EPS for the current year.

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Hedge funds and other institutional investors have recently bought and sold shares of the company. Chicago Equity Partners LLC increased its position in Medifast by 0.3% in the first quarter. Chicago Equity Partners LLC now owns 17,370 shares of the specialty retailer’s stock valued at $771,000 after buying an additional 50 shares during the period. Cambridge Investment Research Advisors Inc. increased its position in Medifast by 1.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 5,173 shares of the specialty retailer’s stock valued at $230,000 after buying an additional 91 shares during the period. Arizona State Retirement System increased its position in Medifast by 1.8% in the first quarter. Arizona State Retirement System now owns 5,813 shares of the specialty retailer’s stock valued at $258,000 after buying an additional 100 shares during the period. HL Financial Services LLC increased its position in Medifast by 1.5% in the first quarter. HL Financial Services LLC now owns 8,088 shares of the specialty retailer’s stock valued at $359,000 after buying an additional 119 shares during the period. Finally, Texas Permanent School Fund increased its position in Medifast by 1.5% in the second quarter. Texas Permanent School Fund now owns 8,185 shares of the specialty retailer’s stock valued at $339,000 after buying an additional 122 shares during the period. 91.71% of the stock is currently owned by hedge funds and other institutional investors.

Medifast Company Profile

Medifast, Inc is engaged in the production, distribution and sale of weight loss, weight management and healthy living products, and other consumable health and nutritional products. Medifast product lines include weight loss, weight management, and healthy living meal replacements, snacks, hydration products and vitamins.

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