Medifast Inc (NYSE:MED) – Stock analysts at B. Riley issued their Q2 2020 earnings per share (EPS) estimates for Medifast in a report issued on Wednesday, June 24th. B. Riley analyst K. Anderson anticipates that the specialty retailer will post earnings of $1.81 per share for the quarter. B. Riley currently has a “Buy” rating and a $164.00 price objective on the stock. B. Riley also issued estimates for Medifast’s Q3 2020 earnings at $1.64 EPS, Q4 2020 earnings at $1.70 EPS, FY2020 earnings at $7.08 EPS and FY2021 earnings at $8.03 EPS.
A number of other research analysts have also recently weighed in on the stock. Zacks Investment Research upgraded shares of Medifast from a “hold” rating to a “strong-buy” rating and set a $110.00 price target on the stock in a report on Tuesday, May 12th. DA Davidson upped their price target on shares of Medifast from $83.00 to $86.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $112.50.
MED stock opened at $138.77 on Monday. Medifast has a twelve month low of $49.03 and a twelve month high of $139.72. The stock has a market capitalization of $1.61 billion, a price-to-earnings ratio of 22.06 and a beta of 1.23. The firm’s fifty day simple moving average is $106.27 and its two-hundred day simple moving average is $92.42.
Medifast (NYSE:MED) last released its earnings results on Tuesday, May 5th. The specialty retailer reported $1.93 EPS for the quarter, topping the consensus estimate of $1.33 by $0.60. Medifast had a net margin of 10.41% and a return on equity of 65.66%. The firm had revenue of $178.46 million for the quarter, compared to the consensus estimate of $161.90 million.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Quadrant Capital Group LLC acquired a new position in Medifast in the 4th quarter worth approximately $26,000. Carroll Financial Associates Inc. acquired a new position in Medifast in the 1st quarter worth approximately $38,000. Ladenburg Thalmann Financial Services Inc. increased its holdings in Medifast by 53.9% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 697 shares of the specialty retailer’s stock worth $76,000 after buying an additional 244 shares during the period. Islay Capital Management LLC acquired a new position in Medifast in the 4th quarter worth approximately $79,000. Finally, Verus Capital Partners LLC acquired a new position in Medifast in the 4th quarter worth approximately $112,000.
In other news, Director Scott Schlackman sold 3,119 shares of the company’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $107.55, for a total transaction of $335,448.45. Following the transaction, the director now owns 7,555 shares in the company, valued at $812,540.25. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Michael C. Macdonald sold 5,000 shares of the company’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $90.74, for a total transaction of $453,700.00. Following the transaction, the director now owns 284,456 shares in the company, valued at approximately $25,811,537.44. The disclosure for this sale can be found here. Corporate insiders own 5.50% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 6th. Shareholders of record on Tuesday, June 30th will be given a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a dividend yield of 3.26%. The ex-dividend date of this dividend is Monday, June 29th. Medifast’s payout ratio is 75.84%.
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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