Medifast Inc (NYSE:MED)‘s stock had its “neutral” rating reaffirmed by equities researchers at Sidoti in a report released on Thursday. They presently have a $55.00 price objective on the specialty retailer’s stock, up from their previous price objective of $49.00. Sidoti’s price target would suggest a potential downside of 4.38% from the stock’s current price.

A number of other brokerages also recently issued reports on MED. BidaskClub raised Medifast from a “sell” rating to a “hold” rating in a report on Saturday, August 19th. DA Davidson started coverage on Medifast in a report on Wednesday, August 16th. They issued a “buy” rating for the company.

Shares of Medifast (NYSE MED) traded down 1.78% during trading on Thursday, hitting $56.18. 87,786 shares of the company traded hands. The company has a 50-day moving average of $52.60 and a 200-day moving average of $45.49. Medifast has a 52-week low of $36.70 and a 52-week high of $58.64. The stock has a market capitalization of $670.23 million, a PE ratio of 28.23 and a beta of 0.43.

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

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Hedge funds and other institutional investors have recently modified their holdings of the business. Acrospire Investment Management LLC purchased a new stake in Medifast in the second quarter valued at approximately $108,000. Mason Street Advisors LLC lifted its stake in Medifast by 7.0% in the first quarter. Mason Street Advisors LLC now owns 2,604 shares of the specialty retailer’s stock valued at $116,000 after buying an additional 170 shares during the last quarter. Sei Investments Co. lifted its stake in Medifast by 95.9% in the second quarter. Sei Investments Co. now owns 3,922 shares of the specialty retailer’s stock valued at $163,000 after buying an additional 1,920 shares during the last quarter. BNP Paribas Arbitrage SA lifted its stake in Medifast by 86.2% in the second quarter. BNP Paribas Arbitrage SA now owns 4,189 shares of the specialty retailer’s stock valued at $174,000 after buying an additional 1,939 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new stake in Medifast in the second quarter valued at approximately $203,000. Institutional investors own 89.48% of the company’s stock.

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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