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Medifast Inc [MED] Insider Activity: An Update for Investors

Medifast Inc’s filing revealed that its Director SCHLACKMAN SCOTT unloaded Company’s shares for reported $0.16 million on Mar 08 ’24. In the deal valued at $39.44 per share,4,053 shares were sold. As a result of this transaction, SCHLACKMAN SCOTT now holds 7,785 shares worth roughly $0.16 million.

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Then, BROWN JEFFREY J bought 58 shares, generating $4,020 in total proceeds. Upon buying the shares at $68.89, the Director now owns 5,784 shares.

Before that, SCHLACKMAN SCOTT bought 53 shares. Medifast Inc shares valued at $3,627 were divested by the Director at a price of $68.89 per share. As a result of the transaction, SCHLACKMAN SCOTT now holds 10,538 shares, worth roughly $0.22 million.

DA Davidson downgraded its Medifast Inc [MED] rating to an Underperform from a a Neutral in a research note published on June 05, 2024; the price target was decreased to $17.50 from $25. A number of analysts have revised their coverage, including Stephens’s analysts, who began to cover the stock in mid October with a ‘”an Equal-weight”‘ rating. DA Davidson also remained covering MED and has decreased its forecast on November 04, 2022 with a “Neutral” recommendation from previously “Buy” rating. Jefferies revised its rating on August 04, 2022. It rated MED as “a Hold” which previously was an “a Buy”.

Price Performance Review of MED

On Tuesday, Medifast Inc [NYSE:MED] saw its stock fall -2.62% to $20.48. Over the last five days, the stock has gained 5.08%. Medifast Inc shares have fallen nearly -69.53% since the year began. Nevertheless, the stocks have fallen -77.78% over the past one year. While a 52-week high of $109.52 was reached on 01/02/24, a 52-week low of $18.81 was recorded on 06/25/24. SMA at 50 days reached $24.49, while 200 days put it at $49.64. A total of 0.36 million shares were traded, compared to the trading of 0.4 million shares in the previous session.

Levels Of Support And Resistance For MED Stock

The 24-hour chart illustrates a support level at 20.02, which if violated will result in even more drops to 19.56. On the upside, there is a resistance level at 20.98. A further resistance level may holdings at 21.48. The Relative Strength Index (RSI) on the 14-day chart is 40.99, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.80, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 52.69%. Stochastics%K at 65.16% indicates the stock is a holding.

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