The stock of Medifast Inc (NYSE:MED) reached all time high today, Oct, 7 and still has $91.95 target or 136.00% above today’s $38.96 share price. This indicates more upside for the $463.97M company. This technical setup was reported by Barchart.com. If the $91.95 PT is reached, the company will be worth $631.00 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 71,809 shares traded hands. Medifast Inc (NYSE:MED) has risen 28.80% since March 4, 2016 and is uptrending. It has outperformed by 20.76% the S&P500.
Analysts await Medifast Inc (NYSE:MED) to report earnings on November, 3. They expect $0.45 EPS, 0.00% or $0.00 from last year’s $0.45 per share. MED’s profit will be $5.36M for 21.64 P/E if the $0.45 EPS becomes a reality. After $0.63 actual EPS 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 stock has “Buy” rating given by Sidoti on Monday, January 11. The firm earned “Neutral” rating on Monday, November 30 by Sidoti. As per Friday, January 29, the company rating was initiated by Wunderlich. The firm has “Buy” rating by Sidoti given on Monday, October 5. The stock has “Hold” rating given by Zacks on Monday, August 10.
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.
D E Shaw & holds 104,824 shares or 0.01% of its portfolio. Legal & General Group Inc Public Limited Liability holds 0% of its portfolio in Medifast Inc (NYSE:MED) for 2,516 shares. Amer Gru has invested 0% of its portfolio in Medifast Inc (NYSE:MED). C M Bidwell And Assocs Ltd has invested 0.02% of its portfolio in Medifast Inc (NYSE:MED). State Street Corporation accumulated 266,950 shares or 0% of the stock. Dean Mgmt last reported 2,735 shares in the company. Pdt Prns Ltd Limited Liability Company last reported 13,610 shares in the company. The New York-based Citigroup has invested 0% in Medifast Inc (NYSE:MED). Bank Of Montreal Can last reported 778 shares in the company. First Quadrant L P Ca holds 19,500 shares or 0.01% of its portfolio. California State Teachers Retirement Systems holds 0% or 21,920 shares in its portfolio. North Star Inv Management accumulated 0.19% or 30,501 shares. Smith Asset Mgmt Gp Lp holds 2,978 shares or 0% of its portfolio. Springbok Capital Lc reported 8,200 shares or 0.04% of all its holdings. Prudential Fincl has invested 0.01% of its portfolio in Medifast Inc (NYSE:MED).
Insider Transactions: Since May 27, 2016, the stock had 0 insider 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..
More notable recent Medifast Inc (NYSE:MED) news were published by: Prnewswire.com which released: “Medifast, Inc. Announces Quarterly Dividend” on September 08, 2016, also Prnewswire.com with their article: “Medifast, Inc. Announces Second Quarter 2016 Financial Results” published on August 03, 2016, Baltimoresun.com published: “Medifast replaces CEO with industry veteran” on October 04, 2016. More interesting news about Medifast Inc (NYSE:MED) were released by: Baltimoresun.com and their article: “Medifast’s Take Shape for Life launches Optavia branded products” published on July 22, 2016 as well as Quotes.Wsj.com‘s news article titled: “Medifast Inc. MED (US: NYSE)” with publication date: February 12, 2011.
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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