ClariVest Asset Management LLC grew its position in Medifast (NYSE:MED) by 1.3% during the first quarter, Holdings Channel reports. The firm owned 67,758 shares of the specialty retailer’s stock after buying an additional 900 shares during the period. ClariVest Asset Management LLC’s holdings in Medifast were worth $6,332,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of MED. BlackRock Inc. boosted its stake in Medifast by 6.1% during the fourth quarter. BlackRock Inc. now owns 1,584,296 shares of the specialty retailer’s stock worth $110,597,000 after acquiring an additional 91,658 shares in the last quarter. Acadian Asset Management LLC boosted its stake in Medifast by 1.7% during the fourth quarter. Acadian Asset Management LLC now owns 458,674 shares of the specialty retailer’s stock worth $32,019,000 after acquiring an additional 7,489 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Medifast by 63.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 189,619 shares of the specialty retailer’s stock worth $13,237,000 after acquiring an additional 73,705 shares in the last quarter. Geode Capital Management LLC boosted its stake in Medifast by 36.5% during the fourth quarter. Geode Capital Management LLC now owns 187,558 shares of the specialty retailer’s stock worth $13,092,000 after acquiring an additional 50,130 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in Medifast by 18.0% during the fourth quarter. Millennium Management LLC now owns 171,881 shares of the specialty retailer’s stock worth $11,999,000 after acquiring an additional 26,178 shares in the last quarter. 86.64% of the stock is currently owned by institutional investors.
Several brokerages recently issued reports on MED. DA Davidson increased their target price on shares of Medifast to $135.00 and gave the stock a “buy” rating in a research note on Friday, May 4th. Sidoti reissued a “neutral” rating on shares of Medifast in a research note on Thursday, April 19th. ValuEngine raised shares of Medifast from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 2nd. Finally, Zacks Investment Research raised shares of Medifast from a “hold” rating to a “strong-buy” rating and set a $97.00 target price on the stock in a research note on Saturday, March 10th. Two analysts have rated the stock with a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $95.67.
Medifast stock opened at $132.91 on Friday. Medifast has a 1-year low of $128.31 and a 1-year high of $129.85. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of 58.04, a price-to-earnings-growth ratio of 2.35 and a beta of 0.25.
Medifast (NYSE:MED) last released its quarterly earnings data on Thursday, May 3rd. The specialty retailer reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.15. Medifast had a net margin of 10.26% and a return on equity of 31.11%. The firm had revenue of $98.60 million for the quarter, compared to analyst estimates of $89.23 million. During the same period last year, the firm earned $0.36 earnings per share. The business’s quarterly revenue was up 39.7% compared to the same quarter last year. equities research analysts anticipate that Medifast will post 3.65 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 8th. Shareholders of record on Friday, March 30th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend was Wednesday, March 28th. Medifast’s dividend payout ratio (DPR) is 83.84%.
In other Medifast news, Director Michael C. Macdonald sold 20,000 shares of the firm’s stock in a transaction on Thursday, March 8th. The shares were sold at an average price of $84.45, for a total value of $1,689,000.00. Following the transaction, the director now directly owns 334,188 shares of the company’s stock, valued at $28,222,176.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Charles P. Connolly sold 7,500 shares of the firm’s stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $89.31, for a total transaction of $669,825.00. Following the completion of the transaction, the director now directly owns 40,342 shares in the company, valued at $3,602,944.02. The disclosure for this sale can be found here. Insiders sold 35,500 shares of company stock worth $3,086,425 over the last ninety days. Insiders own 6.47% of the company’s stock.
Medifast, Inc, through its subsidiaries, manufactures and distributes weight loss, weight management, healthy living products, and other consumable health and nutritional products. It offers bars, bites, pretzels, puffs, oatmeal and cereal crunch products, drinks, hearty choices, pancakes, puddings, soft serves, shakes, smoothies, soft bakes, and soups under the Medifast, OPTAVIA, Thrive by Medifast, Optimal Health by OPTAVIA, Flavors of Home, and Essential 1 brands.
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