Medifast Inc (MED) was Reiterated by Wunderlich to “Hold” according to the research note released today. The brokerage firm has raised the Price Target to $ 36 from a previous price target of $32 . Wunderlich advised their investors in a research report released on Aug 4, 2016.
On the company’s financial health, Medifast Inc reported $0.63 EPS for the quarter, beating the analyst consensus estimate by $ 0.12 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $0.51. The company had revenue of $71.14 million for the quarter, compared to analysts expectations of $72.01 million. The company’s revenue was down -1.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.53 EPS.
Medifast Inc closed down -0.32 points or -0.91% at $34.97 with 72,656 shares getting traded on Tusday. Post opening the session at $35.38, the shares hit an intraday low of $34.79 and an intraday high of $35.38 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.
In a different news, on Apr 5, 2016, Margaret Sheetz (President & COO) sold 8,333 shares at $30.02 per share price. According to the SEC, on Aug 7, 2015, Glenn W. Welling (director) purchased 1,199 shares at $30.00 per share price. On Jun 15, 2015, Barry B Bondroff (director) sold 1,666 shares at $31.93 per share price, according to the Form-4 filing with the securities and exchange commission.
Medifast Inc. (Medifast) is engaged in the production distribution and sale of weight loss and weight management products and other consumable health and diet products. The Company’s operations are primarily conducted through its wholly owned 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. The Company offers a range of weight loss weight management products and healthy living products under the Medifast Thrive by Medifast Optimal Health by Take Shape For Life and Essential 1 brands and for select private label customers. Its product lines include weight loss and management meal replacement and vitamins. Its distribution channels include Medifast Direct Take Shape For Life Franchise Medifast Weight Control Centers and Medifast Wholesale.