The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Medifast Inc. shares valued at $57,767 were purchased by BROWN JEFFREY J on May 05. At $183.25 per share, BROWN JEFFREY J acquired 315 shares. The insider’s holdings grew to 35,539 shares worth approximately $5.26 million following the completion of this transaction.
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Also, Chard Daniel R purchased 431 shares, netting a total of over 78,995 in proceeds. Following the buying of shares at $183.25 each, the insider now holds 108,598 shares.
Before that, Thomas Andrea B had sold 1,150 shares from its account. In a trade valued at $200,456, the Director traded Medifast Inc. shares for $174.31 each. Upon closing the transaction, the insider’s holdings decreased to 1,150 shares, worth approximately $0.24 million.
As published in a research note from Jefferies on August 04, 2022, Medifast Inc. [MED] has been rated down from a Buy to a Hold and the price target has been revised to $150 from $345. This represents a 1.3% premium over Thursday’s closing price. Analysts at Jefferies upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in late January. As of November 05, 2020, DA Davidson has increased its “Neutral” rating to a “Buy” for MED. Earlier on June 25, 2020, B. Riley FBR initiated its rating. Their recommendation was “a Buy” for MED stock.
Analyzing MED’s Price Performance
On Thursday, Medifast Inc. [NYSE: MED] plunged -13.72% to $148.05. The stock’s lowest price that day was $140.01, but it reached a high of $152.53 in the same session. During the last five days, there has been a drop of approximately -13.20%. Over the course of the year, Medifast Inc. shares have dropped approximately -29.31%. Shares of the company reached a 52-week high of $221.99 on 01/07/22 and a 52-week low of $140.01 on 08/04/22. A 50-day SMA is recorded $176.96, while a 200-day SMA reached $189.40. Nevertheless, trading volume fell to 1.08 million shares from 0.19 million shares the previous day.
Support And Resistance Levels for Medifast Inc. (MED)
According to the 24-hour chart, there is a support level at 141.20, which, if violated, would cause prices to drop to 134.34. In the upper region, resistance lies at 153.72. The next price resistance is at 159.38. RSI (Relative Strength Index) is 28.61 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -5.49, which suggests the price will decrease in the coming days. Percent R is at 79.37%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Medifast Inc. subject to short interest?
Stocks of Medifast Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by 44230.0 shares to 0.94 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 0.99 million shares. A decline of -4.68% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 7.5 of the overall float, the days-to-cover ratio (short ratio) decline to 7.5.
Which companies own the most shares of Medifast Inc. (MED)?
According to BlackRock Fund Advisors filings, the company currently owns 1,814,366 shares, which is about 15.76% of the total MED shares outstanding. The investor’s shares have appreciated by 63,362 from its previous 13-F filing of 1751004.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $269,312,797. Renaissance Technologies LLC reduced a -3.30% interest valued at $139.23 million while SSgA Funds Management, Inc. purchased a 4,114 stake. A total of 502 shares of Medifast Inc. were bought by Dimensional Fund Advisors LP during the quarter, and -693 were sold by Rice, Hall, James & Associates LL. In its current portfolio, Principal Global Investors LLC holds 217,845 shares valued at $39.32 million.
In terms of Medifast Inc. share price expectations, FactSet research, analysts set an average price target of $262.33 in the next 12 months, up nearly 66.08% from the previous closing price of $171.60. Analysts anticipate Medifast Inc. stock to reach $352.00 by 2022, with the lowest price target being $150.00. In spite of this, 3 analysts ranked Medifast Inc. stock as an Overweight at the end of 2022. On February 27, 2020, Jefferies assigned a price target of “a Hold” to the stock and downgraded coverage with a $90.