Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Medifast Inc shares valued at $159,866 were sold by SCHLACKMAN SCOTT on Mar 08 ’24. At $39.44 per share, SCHLACKMAN SCOTT sold 4,053 shares. The insider’s holdings dropped to 7,785 shares worth approximately $0.15 million following the completion of this transaction.
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Also, BROWN JEFFREY J purchased 58 shares, netting a total of over 4,020 in proceeds. Following the buying of shares at $68.89 each, the insider now holds 5,784 shares.
Before that, SCHLACKMAN SCOTT had added 53 shares to its account. In a trade valued at $3,627, the Director bought Medifast Inc shares for $68.89 each. Upon closing the transaction, the insider’s holdings increased to 53 shares, worth approximately $0.21 million.
As published in a research note from DA Davidson on June 05, 2024, Medifast Inc [MED] has been rated down from a Neutral to an Underperform and the price target has been revised to $17.50 from $25. Analysts at Stephens started covering the stock with ‘”an Equal-weight”‘ outlook in a report released in mid October. As of November 04, 2022, DA Davidson has decreased its “Buy” rating to a “Neutral” for MED. Earlier on August 04, 2022, Jefferies downgraded its rating. Their new recommendation was “a Hold” for MED stock which previously was a “a Buy”.
Analyzing MED Stock Performance
During the last five days, there has been a drop of approximately -8.71%. Over the course of the year, Medifast Inc shares have dropped approximately -70.83%. Shares of the company reached a 52-week high of $70.58 on 01/02/24 and a 52-week low of $19.33 on 06/14/24. A 50-day SMA is recorded $26.60, while a 200-day SMA reached $52.40. Nevertheless, trading volume fell to 0.53 million shares from 0.53 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 19.38, which, if violated, would cause prices to drop to 19.15. In the upper region, resistance lies at 19.97. The next price resistance is at 20.33. RSI (Relative Strength Index) is 28.04 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.29, which suggests the price will decrease in the coming days. Percent R is at 96.11%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
