Fintel reports that on November 5, 2024, DA Davidson upgraded their outlook for Medifast (NYSE:MED) from Underperform to Neutral.
Analyst Price Forecast Suggests 13.79% Downside
As of October 22, 2024, the average one-year price target for Medifast is $17.60/share. The forecasts range from a low of $16.66 to a high of $18.90. The average price target represents a decrease of 13.79% from its latest reported closing price of $20.41 / share.
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The projected annual revenue for Medifast is 1,617MM, an increase of 139.74%. The projected annual non-GAAP EPS is 13.39.
What is the Fund Sentiment?
There are 383 funds or institutions reporting positions in Medifast. This is an decrease of 75 owner(s) or 16.38% in the last quarter. Average portfolio weight of all funds dedicated to MED is 0.04%, an increase of 31.67%. Total shares owned by institutions decreased in the last three months by 10.83% to 12,793K shares. 
The put/call ratio of MED is 0.48, indicating a bullish outlook.
What are Other Shareholders Doing?
CALF - Pacer US Small Cap Cash Cows 100 ETF holds 1,333K shares representing 12.51% ownership of the company. In its prior filing, the firm reported owning 611K shares , representing an increase of 54.13%. The firm decreased its portfolio allocation in MED by 10.20% over the last quarter.
Renaissance Technologies holds 959K shares representing 9.00% ownership of the company. In its prior filing, the firm reported owning 797K shares , representing an increase of 16.85%. The firm decreased its portfolio allocation in MED by 26.11% over the last quarter.
IJR - iShares Core S&P Small-Cap ETF holds 729K shares representing 6.85% ownership of the company. In its prior filing, the firm reported owning 731K shares , representing a decrease of 0.33%. The firm decreased its portfolio allocation in MED by 45.58% over the last quarter.
Millennium Management holds 469K shares representing 4.41% ownership of the company. In its prior filing, the firm reported owning 300K shares , representing an increase of 35.96%. The firm decreased its portfolio allocation in MED by 3.61% over the last quarter.
Aqr Capital Management holds 390K shares representing 3.66% ownership of the company. In its prior filing, the firm reported owning 179K shares , representing an increase of 54.02%. The firm increased its portfolio allocation in MED by 11.49% over the last quarter.
Medifast Background Information
(This description is provided by the company.)
Medifast is the global company behind one of the fastest-growing health and wellness communities, OPTAVIA®, which offers scientifically developed products, clinically proven plans and the support of Coaches and a Community to help Clients achieve Lifelong Transformation, One Healthy Habit at a Time®. Based on nearly 40 years of experience, Medifast has redefined direct selling by combining the best aspects of the model. Its community of thousands of independent OPTAVIA Coaches teach Clients how to develop holistic healthy habits through the proprietary Habits of Health® Transformational System. Medifast is ranked second on FORTUNE's 100 Fastest-Growing Companies list in 2020. The company was also named to Forbes' 100 Most Trustworthy Companies in America list in 2017.
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