Price Action to Note: Could Medifast Inc Change Direction After Reaching 52-Week High?


Price Action to Note: Could Medifast Inc Change Direction After Reaching 52 Week High?

The stock of Medifast Inc (NYSE:MED) hit a new 52-week high and has $73.80 target or 84.00% above today’s $40.11 share price. The 6 months bullish chart indicates low risk for the $479.33 million company. The 1-year high was reported on Oct, 17 by If the $73.80 price target is reached, the company will be worth $402.64 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 45,431 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 22.28 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 rating was downgraded by Zacks to “Hold” on Monday, August 10. As per Monday, October 5, the company rating was upgraded by Sidoti. The firm earned “Neutral” rating on Monday, November 30 by Sidoti. The firm has “Hold” rating by Wunderlich given on Friday, January 29. The firm earned “Buy” rating on Monday, January 11 by Sidoti.

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 is positive, 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.
Northern Trust holds 0% or 132,136 shares in its portfolio. Hightower Advsr Limited Liability Com accumulated 0% or 6,139 shares. Panagora Asset has 3,358 shares for 0% of their US portfolio. The Illinois-based North Star Management Corporation has invested 0.19% in Medifast Inc (NYSE:MED). Smith Moore holds 0.12% of its portfolio in Medifast Inc (NYSE:MED) for 8,500 shares. Brown Advisory owns 10,115 shares or 0% of their US portfolio. Tfs Limited Liability Corporation has 0.22% invested in the company for 35,328 shares. Blackrock reported 10,132 shares or 0% of all its holdings. The New York-based Jpmorgan Chase And Comm has invested 0% in Medifast Inc (NYSE:MED). Moreover, Ameriprise Fincl has 0% invested in Medifast Inc (NYSE:MED) for 57,889 shares. Matarin Capital Management Ltd Liability Com last reported 111,025 shares in the company. Blackrock Grp Inc owns 20,576 shares or 0% of their US portfolio. Prudential accumulated 0.01% or 104,712 shares. Rhumbline Advisers holds 0% or 13,662 shares in its portfolio. Menta Ltd Liability Corporation reported 60,795 shares or 0.28% of all its holdings.

Insider Transactions: Since May 27, 2016, the stock had 0 insider purchases, and 1 sale for $40.83 million net activity. $40.83 million 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: which released: “Medifast, Inc. to Announce Financial Results for the Third Quarter Ended …” on October 12, 2016, also with their article: “Medifast, Inc. Announces Second Quarter 2016 Financial Results” published on August 03, 2016, 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: and their article: “Medifast, Inc. Announces Fourth Quarter and Full Year 2015 Financial Results” published on March 10, 2016 as well as‘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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