The stock of Medifast Inc (NYSE:MED) reached all time high today, Oct, 17 and still has $84.78 target or 111.00% above today’s $40.18 share price. This indicates more upside for the $480.16 million company. This technical setup was reported by Barchart.com. If the $84.78 PT is reached, the company will be worth $532.98 million more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 54,127 shares traded hands. Medifast Inc (NYSE:MED) has risen 40.73% since March 14, 2016 and is uptrending. It has outperformed by 35.12% the S&P500.
Analysts await Medifast Inc (NYSE:MED) to report earnings on November, 3. They expect $0.45 earnings per share, 0.00% or $0.00 from last year’s $0.45 per share. MED’s profit will be $5.38 million for 22.32 P/E if the $0.45 EPS becomes a reality. After $0.63 actual earnings per share reported by Medifast Inc for the previous quarter, Wall Street now forecasts -28.57% negative EPS growth.
Medifast Inc (NYSE:MED) Ratings Coverage
Out of 2 analysts covering Medifast (NYSE:MED), 1 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. Medifast has been the topic of 5 analyst reports since August 10, 2015 according to StockzIntelligence Inc. The firm has “Hold” rating given on Monday, August 10 by Zacks. Sidoti upgraded the shares of MED in a report on Monday, January 11 to “Buy” rating. The rating was upgraded by Sidoti on Monday, October 5 to “Buy”. The stock has “Neutral” rating given by Sidoti on Monday, November 30. The firm has “Hold” rating given on Friday, January 29 by Wunderlich.
According to Zacks Investment Research, “Medifast Inc has one operating subsidiary, Jason Pharmaceuticals, Inc, its manufacturing arm. They are engaged in the production, distribution, and sale of consumable health and diet products. Their product lines include weight management, meal replacement and sports nutrition products manufactured in a modern facility in Owings Mills, Maryland.”
Insitutional Activity: The institutional sentiment increased to 1.62 in 2016 Q2. Its up 0.05, from 1.57 in 2016Q1. The ratio increased, as 9 funds sold all Medifast Inc shares owned while 38 reduced positions. 28 funds bought stakes while 48 increased positions. They now own 10.00 million shares or 1.60% less from 10.16 million shares in 2016Q1.
Schwab Charles Invest Management Inc has 0% invested in the company for 36,876 shares. Swiss Savings Bank accumulated 0% or 19,400 shares. Product Prtn Limited Liability Corp holds 13,610 shares or 0.04% of its portfolio. Citigroup accumulated 0% or 5,767 shares. The Illinois-based Ubs Asset Mngmt Americas has invested 0% in Medifast Inc (NYSE:MED). Rice Hall James And Associate Lc holds 0.06% or 30,087 shares in its portfolio. Moreover, Tower Cap Limited Co (Trc) has 0% invested in Medifast Inc (NYSE:MED) for 31 shares. Eqis Capital Mgmt Inc has 15,438 shares for 0.04% of their US portfolio. Engaged Cap Ltd Liability Corp reported 737,465 shares or 8.64% of all its holdings. Kennedy Cap Mgmt reported 353,975 shares or 0.24% of all its holdings. New York State Common Retirement Fund has 0% invested in the company for 24,102 shares. Moreover, Secor Capital Advisors Limited Partnership has 0.16% invested in Medifast Inc (NYSE:MED) for 39,168 shares. Moreover, Menta Limited Liability Corporation has 0.28% invested in Medifast Inc (NYSE:MED) for 60,795 shares. Moreover, Loomis Sayles & Ltd Partnership has 0% invested in Medifast Inc (NYSE:MED) for 70 shares. Blackrock last reported 10,132 shares in the company.
Insider Transactions: Since May 27, 2016, the stock had 0 buys, and 1 sale for $40.83 million net activity. $40.83M worth of Medifast Inc (NYSE:MED) was sold by VISIUM BALANCED MASTER FUND – LTD. on Friday, May 27.
More notable recent Medifast Inc (NYSE:MED) news were published by: Prnewswire.com which released: “Medifast, Inc. to Announce Financial Results for the Third Quarter Ended …” on October 12, 2016, also Prnewswire.com with their article: “Medifast, Inc. Announces Second Quarter 2016 Financial Results” published on August 03, 2016, Baltimoresun.com published: “Medifast’s Take Shape for Life launches Optavia branded products” on July 22, 2016. More interesting news about Medifast Inc (NYSE:MED) were released by: Prnewswire.com and their article: “Medifast, Inc. Announces Fourth Quarter and Full Year 2015 Financial Results” published on March 10, 2016 as well as Baltimoresun.com‘s news article titled: “Medifast replaces CEO with industry veteran” with publication date: October 04, 2016.
MED Company Profile
Medifast, Inc. (Medifast), incorporated on May 5, 1989, is engaged in the production, distribution and sale of weight loss, weight management and healthy living products, and other consumable health and diet products. The Firm operates through its subsidiaries, Jason Pharmaceuticals, Inc., Take Shape For Life, Inc., Jason Enterprises, Inc., Medifast Franchise Systems (MFSI), Inc., Jason Properties, LLC, Medifast Nutrition, Inc. and Seven Crondall, LLC. Medifast product lines include weight loss, weight management, and healthy living meal replacements, snacks, hydration products and vitamins.
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