Auriga Reaffirms Buy Rating on Medifast (MED)
Medifast traded up 1.14% on Wednesday, hitting $16.89. Medifast has a 52-week low of $12.97 and a 52-week high of $27.11. The company has a market cap of $262.2 million and a price-to-earnings ratio of 14.45.
Medifast last posted its quarterly earnings results on Tuesday, May 8th. The company reported $0.29 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.38 by $0.09. Medifast’s revenue was up 19.7% compared to the same quarter last year. Analysts expect that Medifast will post $0.37 EPS next quarter.
Other equities research analysts have also recently issued reports about the stock. Analysts at Wedbush cut their price target on shares of Medifast from $23.00 to $22.00 in a research note to investors on Wednesday. Separately, analysts at Sidoti downgraded shares of Medifast from a “buy” rating to a “neutral” rating in a research note to investors on Wednesday, April 11st. Finally, analysts at Canaccord Genuity reiterated a “buy” rating on shares of Medifast in a research note to investors on Tuesday, April 10th.
Medifast, Inc. (Medifast) is engaged in the production, distribution, and sale of weight management and disease management products and other consumable health and diet products.