UPDATE: Wedbush Lowers Medifast's PT
According to a research report published this morning, Wedbush has lowered Medifast's (NYSE: MED) PT from $23 to $22.
In the report, Wedbush commented, "Return to double-digit growth in direct-selling business leads to revenue upside. Q1 revenues of $89 million exceeded the consensus estimate of $87 million on 13% growth in Take Shape for Life, the direct-selling arm, to $53 million, due to a 2% increase in active health coaches and 3% increase in productivity."
Wedbush maintains its Outperform rating on Medifast, which is currently trading at $16.57.
Latest Ratings for MED
|Jan 2016||Wunderlich||Initiates Coverage on||Hold|
|Nov 2015||Sidoti & Co.||Downgrades||Buy||Neutral|
|Oct 2015||Sidoti & Co.||Upgrades||Neutral||Buy|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.