Medifast (NYSE:MED) had its target price raised by analysts at DA Davidson to $89.00 in a note issued to investors on Friday. The firm currently has a “buy” rating on the specialty retailer’s stock. DA Davidson’s target price indicates a potential upside of 22.12% from the company’s current price. DA Davidson also issued estimates for Medifast’s Q1 2018 earnings at $0.61 EPS, Q3 2018 earnings at $0.67 EPS, FY2018 earnings at $2.60 EPS and FY2019 earnings at $3.26 EPS.

A number of other analysts have also recently commented on MED. BidaskClub upgraded shares of Medifast from a “strong sell” rating to a “sell” rating in a report on Friday, August 11th. ValuEngine cut shares of Medifast from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Sidoti restated a “neutral” rating and set a $55.00 target price (up previously from $49.00) on shares of Medifast in a report on Thursday, September 21st. Finally, Zacks Investment Research upgraded shares of Medifast from a “hold” rating to a “buy” rating and set a $79.00 target price on the stock in a report on Friday, November 10th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $74.33.

Shares of Medifast (MED) opened at $72.88 on Friday. The firm has a market cap of $852.06, a price-to-earnings ratio of 35.17, a P/E/G ratio of 2.19 and a beta of 0.51. Medifast has a fifty-two week low of $39.97 and a fifty-two week high of $73.60.

Medifast (NYSE:MED) last announced its earnings results on Tuesday, November 7th. The specialty retailer reported $0.55 EPS for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.04. Medifast had a net margin of 8.58% and a return on equity of 24.07%. The firm had revenue of $77.20 million for the quarter, compared to analysts’ expectations of $74.94 million. During the same quarter in the previous year, the business posted $0.51 EPS. The company’s quarterly revenue was up 12.5% on a year-over-year basis. equities analysts expect that Medifast will post 2.17 earnings per share for the current fiscal year.

In other news, Director Glenn W. Welling sold 250,000 shares of the business’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $65.00, for a total transaction of $16,250,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Glenn W. Welling sold 275,000 shares of the business’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $64.60, for a total transaction of $17,765,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 550,000 shares of company stock worth $34,019,500. Company insiders own 6.47% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio boosted its stake in Medifast by 248.2% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 2,354 shares of the specialty retailer’s stock worth $140,000 after purchasing an additional 1,678 shares in the last quarter. Acrospire Investment Management LLC bought a new position in Medifast in the 2nd quarter worth about $108,000. Sei Investments Co. boosted its stake in Medifast by 95.9% in the 2nd quarter. Sei Investments Co. now owns 3,922 shares of the specialty retailer’s stock worth $163,000 after purchasing an additional 1,920 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in Medifast by 86.2% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,189 shares of the specialty retailer’s stock worth $174,000 after purchasing an additional 1,939 shares in the last quarter. Finally, Macquarie Group Ltd. bought a new position in Medifast in the 3rd quarter worth about $267,000. Institutional investors own 86.91% of the company’s stock.

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About Medifast

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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